IFM Investors Pty Ltd Decreases Stake in Bristol-Myers Squibb (NYSE:BMY)

IFM Investors Pty Ltd lowered its holdings in Bristol-Myers Squibb (NYSE:BMY) by 1.3% in the 3rd quarter, Holdings Channel reports. The firm owned 435,849 shares of the biopharmaceutical company’s stock after selling 5,728 shares during the period. IFM Investors Pty Ltd’s holdings in Bristol-Myers Squibb were worth $22,551,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of BMY. Paragon Capital Management LLC lifted its position in Bristol-Myers Squibb by 1.1% in the first quarter. Paragon Capital Management LLC now owns 20,500 shares of the biopharmaceutical company’s stock worth $1,112,000 after purchasing an additional 222 shares during the period. OmniStar Financial Group Inc. increased its position in Bristol-Myers Squibb by 1.7% in the second quarter. OmniStar Financial Group Inc. now owns 13,316 shares of the biopharmaceutical company’s stock worth $553,000 after purchasing an additional 224 shares during the period. LGT Financial Advisors LLC boosted its holdings in 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 buying an additional 227 shares during the last quarter. Cassia Capital Partners LLC boosted its holdings in Bristol-Myers Squibb by 2.9% during the third quarter. Cassia Capital Partners LLC now owns 8,222 shares of the biopharmaceutical company’s stock worth $425,000 after buying an additional 235 shares during the last quarter. Finally, Tempus Wealth Planning LLC lifted its holdings in shares of Bristol-Myers Squibb by 1.5% during the 3rd quarter. Tempus Wealth Planning LLC now owns 15,648 shares of the biopharmaceutical company’s stock valued at $810,000 after purchasing an additional 235 shares in the last quarter. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on BMY shares. UBS Group boosted their target price on Bristol-Myers Squibb from $50.00 to $54.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $48.00 price objective on shares of Bristol-Myers Squibb in a report on Monday, September 23rd. TD Cowen upped their target price on Bristol-Myers Squibb from $53.00 to $59.00 and gave the company a “hold” rating in a research report on Monday, October 7th. Barclays upped 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. Finally, Jefferies Financial Group upped 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. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $53.20.

Bristol-Myers Squibb Trading Down 0.5 %

NYSE BMY traded down $0.27 during trading on Thursday, hitting $52.79. 1,648,041 shares of the company’s stock traded hands, compared to its average volume of 14,562,734. The firm has a market cap of $107.01 billion, a P/E ratio of -17.08, a PEG ratio of 13.75 and a beta of 0.46. Bristol-Myers Squibb has a 12-month low of $39.35 and a 12-month high of $56.77. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.16 and a quick ratio of 1.02. The stock has a fifty day moving average of $50.63 and a two-hundred day moving average of $46.39.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.64 by $0.43. The company had revenue of $12.20 billion during the quarter, compared to the consensus estimate of $11.54 billion. Bristol-Myers Squibb had a negative net margin of 14.06% and a positive return on equity of 12.51%. Bristol-Myers Squibb’s revenue was up 8.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.75 earnings per share. As a group, sell-side analysts expect 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 will be paid on Friday, November 1st. Shareholders of record on Friday, October 4th will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.55%. The ex-dividend date is Friday, October 4th. Bristol-Myers Squibb’s payout ratio is -77.42%.

Bristol-Myers Squibb Company 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.