Bristol-Myers Squibb (NYSE:BMY) Position Lessened by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC reduced its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 9.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,637,073 shares of the biopharmaceutical company’s stock after selling 174,212 shares during the quarter. Los Angeles Capital Management LLC owned about 0.08% of Bristol-Myers Squibb worth $67,988,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in BMY. ESL Trust Services LLC acquired a new stake in shares of Bristol-Myers Squibb in the 1st quarter worth about $27,000. Northwest Financial Advisors acquired a new stake in shares of Bristol-Myers Squibb in the fourth quarter valued at approximately $27,000. LGT Financial Advisors LLC raised its holdings in shares of Bristol-Myers Squibb by 42.7% during the second quarter. LGT Financial Advisors LLC now owns 759 shares of the biopharmaceutical company’s stock valued at $32,000 after buying an additional 227 shares during the last quarter. Fairman Group LLC acquired a new position in shares of Bristol-Myers Squibb during the fourth quarter worth approximately $42,000. Finally, Redmont Wealth Advisors LLC acquired a new stake in Bristol-Myers Squibb in the 1st quarter valued at approximately $47,000. 76.41% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on BMY. Deutsche Bank Aktiengesellschaft reduced their price target on Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating for the company in a research report on Tuesday, July 23rd. Cantor Fitzgerald restated a “neutral” rating and set a $45.00 price target on shares of Bristol-Myers Squibb in a research report on Monday, July 22nd. TD Cowen increased their price objective on shares of Bristol-Myers Squibb from $45.00 to $53.00 and gave the company a “hold” rating in a report on Monday, August 12th. Barclays boosted their target price on Bristol-Myers Squibb from $41.00 to $42.00 and gave the stock an “underweight” rating in a report on Thursday, August 22nd. Finally, StockNews.com raised Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 29th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $54.67.

Bristol-Myers Squibb Trading Down 2.2 %

Shares of BMY traded down $1.10 during midday trading on Friday, hitting $48.70. The stock had a trading volume of 11,146,390 shares, compared to its average volume of 15,309,394. Bristol-Myers Squibb has a fifty-two week low of $39.35 and a fifty-two week high of $61.42. The business has a 50-day simple moving average of $45.95 and a two-hundred day simple moving average of $46.60. The company has a current ratio of 1.16, a quick ratio of 1.02 and a debt-to-equity ratio of 2.86. The firm has a market cap of $98.72 billion, a P/E ratio of -15.71, a price-to-earnings-growth ratio of 12.92 and a beta of 0.46.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings data on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share for the quarter, topping the consensus estimate of $1.64 by $0.43. The firm had revenue of $12.20 billion for the quarter, compared to analysts’ expectations of $11.54 billion. Bristol-Myers Squibb had a negative net margin of 14.06% and a positive return on equity of 12.51%. The company’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.75 EPS. As a group, equities analysts forecast that Bristol-Myers Squibb will post 0.77 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Friday, July 5th were paid a dividend of $0.60 per share. The ex-dividend date of this dividend was Friday, July 5th. This represents a $2.40 annualized dividend and a yield of 4.93%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -77.42%.

About Bristol-Myers Squibb

Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. It offers products for hematology, oncology, cardiovascular, immunology, fibrotic, and neuroscience diseases. The company's products include Eliquis for reduction in risk of stroke/systemic embolism in non-valvular atrial fibrillation, and for the treatment of DVT/PE; Opdivo for various anti-cancer indications, including bladder, blood, CRC, head and neck, RCC, HCC, lung, melanoma, MPM, stomach and esophageal cancer; Pomalyst/Imnovid for multiple myeloma; Orencia for active rheumatoid arthritis and psoriatic arthritis; and Sprycel for the treatment of Philadelphia chromosome-positive chronic myeloid leukemia.