Sax Wealth Advisors LLC Decreases Stock Holdings in Bristol-Myers Squibb (NYSE:BMY)

Sax Wealth Advisors LLC decreased its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 44.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,611 shares of the biopharmaceutical company’s stock after selling 6,089 shares during the period. Sax Wealth Advisors LLC’s holdings in Bristol-Myers Squibb were worth $316,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in BMY. Northwest Financial Advisors purchased a new position in Bristol-Myers Squibb in the 4th quarter valued at $27,000. ESL Trust Services LLC purchased a new position in Bristol-Myers Squibb in the 1st quarter valued at $27,000. Accordant Advisory Group Inc purchased a new position in Bristol-Myers Squibb in the 1st quarter valued at $31,000. Pacific Capital Wealth Advisors Inc. purchased a new position in Bristol-Myers Squibb in the 4th quarter valued at $34,000. Finally, Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Bristol-Myers Squibb in the 4th quarter worth $40,000. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Stock Down 0.3 %

Shares of BMY traded down $0.13 during midday trading on Friday, reaching $46.72. The stock had a trading volume of 14,083,504 shares, compared to its average volume of 15,967,806. Bristol-Myers Squibb has a 1-year low of $39.35 and a 1-year high of $63.41. The company’s fifty day simple moving average is $43.02 and its two-hundred day simple moving average is $46.62. The company has a market cap of $94.71 billion, a price-to-earnings ratio of -15.07, a PEG ratio of 12.51 and a beta of 0.44. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.16 and a quick ratio of 0.99.

Bristol-Myers Squibb (NYSE:BMY) last posted its earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 EPS for the quarter, beating analysts’ consensus estimates of $1.64 by $0.43. The firm had revenue of $12.20 billion for 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%. The company’s revenue was up 8.7% on a year-over-year basis. During the same period last year, the firm posted $1.75 EPS. Equities research analysts expect that Bristol-Myers Squibb will post 0.77 earnings per share for the current year.

Bristol-Myers Squibb Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Friday, July 5th were given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 5.14%. The ex-dividend date of this dividend was Friday, July 5th. Bristol-Myers Squibb’s payout ratio is currently -77.42%.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. StockNews.com raised Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 29th. BMO Capital Markets cut their target price on Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating for the company in a research note on Friday, April 26th. Cantor Fitzgerald reissued a “neutral” rating and set a $45.00 price objective on shares of Bristol-Myers Squibb in a research report on Monday, July 22nd. Wells Fargo & Company raised their price objective on Bristol-Myers Squibb from $51.00 to $52.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 18th. Finally, Barclays downgraded Bristol-Myers Squibb from an “overweight” rating to an “equal weight” rating and set a $41.00 price objective for the company. in a research report on Monday, July 29th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $55.79.

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.