Valley National Advisers Inc. Lowers Position in Bristol-Myers Squibb (NYSE:BMY)

Valley National Advisers Inc. reduced its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 29.9% in the 3rd quarter, HoldingsChannel reports. The firm owned 5,362 shares of the biopharmaceutical company’s stock after selling 2,292 shares during the period. Valley National Advisers Inc.’s holdings in Bristol-Myers Squibb were worth $277,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Vicus Capital acquired a new stake in shares of Bristol-Myers Squibb in the 1st quarter valued at approximately $210,000. Founders Financial Securities LLC acquired a new stake in Bristol-Myers Squibb in the first quarter valued at $672,000. BKM Wealth Management LLC boosted its position in shares of Bristol-Myers Squibb by 151.1% during the 1st quarter. BKM Wealth Management LLC now owns 4,924 shares of the biopharmaceutical company’s stock worth $267,000 after purchasing an additional 2,963 shares in the last quarter. Park Place Capital Corp grew its stake in shares of Bristol-Myers Squibb by 139.0% during the 1st quarter. Park Place Capital Corp now owns 8,739 shares of the biopharmaceutical company’s stock worth $474,000 after purchasing an additional 5,083 shares during the period. Finally, Westhampton Capital LLC increased its holdings in shares of Bristol-Myers Squibb by 63.2% in the 1st quarter. Westhampton Capital LLC now owns 9,667 shares of the biopharmaceutical company’s stock valued at $541,000 after purchasing an additional 3,745 shares in the last quarter. Institutional investors and hedge funds own 76.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on BMY. UBS Group boosted their price objective on shares of Bristol-Myers Squibb from $50.00 to $54.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Citigroup cut Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $75.00 to $55.00 in a report on Friday. Deutsche Bank Aktiengesellschaft reduced their price objective on Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating for the company in a report on Tuesday, July 23rd. Cantor Fitzgerald reissued a “neutral” rating and issued a $50.00 target price on shares of Bristol-Myers Squibb in a report on Friday, October 18th. Finally, 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 research report on Wednesday, August 28th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $53.57.

Bristol-Myers Squibb Stock Performance

Shares of NYSE BMY opened at $51.92 on Monday. The company has a 50-day simple moving average of $50.75 and a 200-day simple moving average of $46.38. 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 company has a market cap of $105.25 billion, a PE ratio of -16.75, a price-to-earnings-growth 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 $55.29.

Bristol-Myers Squibb (NYSE:BMY) last released its earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 EPS for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $11.54 billion. During the same period in the previous year, the company earned $1.75 EPS. Bristol-Myers Squibb’s revenue for the quarter was up 8.7% on a year-over-year basis. On average, equities analysts anticipate that Bristol-Myers Squibb will post 0.77 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

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

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.