Bristol-Myers Squibb (NYSE:BMY) Position Lowered by Keating Investment Counselors Inc.

Keating Investment Counselors Inc. lessened its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 10.8% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,357 shares of the biopharmaceutical company’s stock after selling 1,255 shares during the period. Keating Investment Counselors Inc.’s holdings in Bristol-Myers Squibb were worth $430,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Norges Bank bought a new stake in shares of Bristol-Myers Squibb during the 4th quarter valued at about $1,560,524,000. Capital International Investors grew its holdings in shares of Bristol-Myers Squibb by 14.1% during the first quarter. Capital International Investors now owns 70,203,814 shares of the biopharmaceutical company’s stock valued at $3,807,153,000 after purchasing an additional 8,675,322 shares during the last quarter. M&G Plc acquired a new stake in shares of Bristol-Myers Squibb during the 1st quarter worth approximately $392,608,000. Pzena Investment Management LLC raised its position in shares of Bristol-Myers Squibb by 119.8% during the 1st quarter. Pzena Investment Management LLC now owns 12,293,913 shares of the biopharmaceutical company’s stock worth $666,699,000 after purchasing an additional 6,701,097 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its position in Bristol-Myers Squibb by 77.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,547,823 shares of the biopharmaceutical company’s stock valued at $680,469,000 after purchasing an additional 5,461,767 shares during the period. Institutional investors and hedge funds own 76.41% of the company’s stock.

Bristol-Myers Squibb Stock Down 2.2 %

Shares of Bristol-Myers Squibb stock opened at $48.70 on Friday. Bristol-Myers Squibb has a 1 year low of $39.35 and a 1 year high of $61.42. The company has a market cap of $98.72 billion, a P/E ratio of -15.71, a P/E/G ratio of 12.92 and a beta of 0.46. 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 stock has a 50-day moving average price of $45.95 and a 200 day moving average price of $46.58.

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

Bristol-Myers Squibb Announces Dividend

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

Analyst Ratings Changes

Several research analysts have commented on BMY shares. Cantor Fitzgerald restated a “neutral” rating and issued a $45.00 target price on shares of Bristol-Myers Squibb in a research report on Monday, July 22nd. TD Cowen increased their price objective on Bristol-Myers Squibb from $45.00 to $53.00 and gave the stock a “hold” rating in a report on Monday, August 12th. Barclays raised their target price on Bristol-Myers Squibb from $41.00 to $42.00 and gave the company an “underweight” rating in a research report on Thursday, August 22nd. Jefferies Financial Group raised their price target on Bristol-Myers Squibb from $49.00 to $51.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on shares of 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. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $54.67.

Bristol-Myers Squibb Profile

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.