Bristol-Myers Squibb (NYSE:BMY) Shares Sold by Lynch & Associates IN

Lynch & Associates IN decreased its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 4.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,709 shares of the biopharmaceutical company’s stock after selling 344 shares during the period. Lynch & Associates IN’s holdings in Bristol-Myers Squibb were worth $320,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Global Assets Advisory LLC acquired a new stake in Bristol-Myers Squibb in the first quarter valued at $5,161,000. Principal Securities Inc. acquired a new stake in shares of Bristol-Myers Squibb in the fourth quarter valued at about $1,139,000. Lincoln National Corp boosted its holdings in Bristol-Myers Squibb by 7.7% during the first quarter. Lincoln National Corp now owns 42,894 shares of the biopharmaceutical company’s stock worth $2,326,000 after buying an additional 3,052 shares in the last quarter. Chapin Davis Inc. grew its position in Bristol-Myers Squibb by 22.6% during the first quarter. Chapin Davis Inc. now owns 22,544 shares of the biopharmaceutical company’s stock worth $1,223,000 after buying an additional 4,159 shares during the period. Finally, Sierra Summit Advisors LLC acquired a new stake in shares of Bristol-Myers Squibb during the 4th quarter valued at approximately $755,000. 76.41% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently weighed in on BMY. Deutsche Bank Aktiengesellschaft lowered their price target on Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating on the stock in a report on Tuesday, July 23rd. Cantor Fitzgerald reissued a “neutral” rating and issued a $45.00 target price on shares of Bristol-Myers Squibb in a report on Monday, July 22nd. Jefferies Financial Group lifted their price target on Bristol-Myers Squibb from $49.00 to $51.00 and gave the stock a “hold” rating in a research note on Wednesday, August 28th. 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 research note on Monday, August 12th. Finally, StockNews.com upgraded shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 29th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Bristol-Myers Squibb currently has a consensus rating of “Hold” and an average price target of $54.67.

Bristol-Myers Squibb Price Performance

Shares of NYSE:BMY opened at $48.70 on Friday. 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 business has a fifty day simple moving average of $45.95 and a 200-day simple moving average of $46.58. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $61.42. The company has a quick ratio of 1.02, a current ratio of 1.16 and a debt-to-equity ratio of 2.86.

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

Bristol-Myers Squibb Dividend Announcement

The business also recently declared 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. This represents a $2.40 dividend on an annualized basis and a yield of 4.93%. The ex-dividend date of this dividend was Friday, July 5th. Bristol-Myers Squibb’s dividend payout ratio is currently -77.42%.

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.