IVC Wealth Advisors LLC Sells 217 Shares of Bristol-Myers Squibb (NYSE:BMY)

IVC Wealth Advisors LLC lessened its holdings in Bristol-Myers Squibb (NYSE:BMY) by 3.9% during the 3rd quarter, Holdings Channel reports. The firm owned 5,363 shares of the biopharmaceutical company’s stock after selling 217 shares during the period. IVC Wealth Advisors LLC’s holdings in Bristol-Myers Squibb were worth $277,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. ESL Trust Services LLC bought a new position in Bristol-Myers Squibb in the first quarter valued at approximately $27,000. ORG Wealth Partners LLC acquired a new stake in shares of Bristol-Myers Squibb during the third quarter worth $34,000. LGT Financial Advisors LLC lifted its stake in Bristol-Myers Squibb by 42.7% in 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 period. Redmont Wealth Advisors LLC bought a new position in Bristol-Myers Squibb during the first quarter worth about $47,000. Finally, MFA Wealth Advisors LLC acquired a new position in shares of Bristol-Myers Squibb during the 2nd quarter worth about $39,000. Institutional investors and hedge funds own 76.41% of the company’s stock.

Bristol-Myers Squibb Stock Down 1.9 %

Bristol-Myers Squibb stock opened at $51.92 on Monday. The company has a fifty day simple moving average of $50.75 and a 200 day simple moving average of $46.38. The company has a current ratio of 1.16, a quick ratio of 1.02 and a debt-to-equity ratio of 2.86. Bristol-Myers Squibb has a 1-year low of $39.35 and a 1-year high of $55.29. The company has a market cap of $105.25 billion, a P/E ratio of -16.75, a price-to-earnings-growth ratio of 13.75 and a beta of 0.46.

Bristol-Myers Squibb (NYSE:BMY) last released its earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.64 by $0.43. 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 $12.20 billion for the quarter, compared to the consensus estimate of $11.54 billion. During the same quarter in the previous year, the business earned $1.75 earnings per share. Bristol-Myers Squibb’s quarterly revenue was up 8.7% on a year-over-year basis. Research analysts anticipate that Bristol-Myers Squibb will post 0.77 earnings per share for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 4th will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.62%. The ex-dividend date is Friday, October 4th. Bristol-Myers Squibb’s dividend payout ratio is currently -77.42%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on BMY. Citigroup downgraded shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and cut their price target for the company from $75.00 to $55.00 in a research report on Friday. Jefferies Financial Group boosted their price target on shares of Bristol-Myers Squibb from $49.00 to $51.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. Barclays lifted their target price on Bristol-Myers Squibb from $42.00 to $43.00 and gave the stock an “underweight” rating in a report on Monday, October 7th. StockNews.com raised Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 29th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $50.00 price objective on shares of Bristol-Myers Squibb in a research report on Friday, October 18th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $53.57.

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.