Gladstone Institutional Advisory LLC Trims Stake in Bristol-Myers Squibb (NYSE:BMY)

Gladstone Institutional Advisory LLC reduced its position in Bristol-Myers Squibb (NYSE:BMY) by 33.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 71,006 shares of the biopharmaceutical company’s stock after selling 36,225 shares during the quarter. Gladstone Institutional Advisory LLC’s holdings in Bristol-Myers Squibb were worth $3,674,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of BMY. Reston Wealth Management LLC purchased a new stake in shares of Bristol-Myers Squibb during the third quarter worth approximately $25,000. ESL Trust Services LLC purchased a new stake in shares of Bristol-Myers Squibb during the first quarter worth approximately $27,000. Valued Wealth Advisors LLC raised its stake in shares of Bristol-Myers Squibb by 1,168.1% during the third quarter. Valued Wealth Advisors LLC now owns 596 shares of the biopharmaceutical company’s stock worth $31,000 after purchasing an additional 549 shares during the last quarter. LGT Financial Advisors LLC raised its stake 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 worth $32,000 after purchasing an additional 227 shares during the last quarter. Finally, ORG Wealth Partners LLC purchased a new stake in shares of Bristol-Myers Squibb during the third quarter worth approximately $34,000. 76.41% of the stock is owned by institutional investors and hedge funds.

Bristol-Myers Squibb Stock Down 2.6 %

BMY opened at $54.34 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.16 and a debt-to-equity ratio of 2.86. The firm has a market cap of $110.17 billion, a P/E ratio of -16.67, a PEG ratio of 14.62 and a beta of 0.46. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $56.20. The business’s fifty day simple moving average is $51.26 and its 200 day simple moving average is $46.58.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported $1.80 EPS for the quarter, beating analysts’ consensus estimates of $1.49 by $0.31. Bristol-Myers Squibb had a positive return on equity of 12.51% and a negative net margin of 14.06%. The business had revenue of $11.89 billion for the quarter, compared to analyst estimates of $11.26 billion. During the same quarter last year, the company earned $2.00 earnings per share. The business’s revenue for the quarter was up 8.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Bristol-Myers Squibb will post 0.72 EPS for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 4th were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 4.42%. The ex-dividend date was Friday, October 4th. Bristol-Myers Squibb’s payout ratio is -73.62%.

Analysts Set New Price Targets

Several research firms have recently commented on BMY. Deutsche Bank Aktiengesellschaft cut their price target on Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating for the company in a research note on Tuesday, July 23rd. BMO Capital Markets increased their price objective on Bristol-Myers Squibb from $53.00 to $57.00 and gave the stock a “market perform” rating in a research report on Friday. Barclays increased their price objective on Bristol-Myers Squibb from $42.00 to $43.00 and gave the stock an “underweight” rating in a research report on Monday, October 7th. Sanford C. Bernstein began coverage on Bristol-Myers Squibb in a research report on Thursday, October 17th. They issued a “market perform” rating and a $56.00 price objective for the company. Finally, Jefferies Financial Group increased their price objective on Bristol-Myers Squibb from $49.00 to $51.00 and gave the stock a “hold” rating in a research report on Wednesday, August 28th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $53.08.

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.