Bristol-Myers Squibb (NYSE:BMY) Stock Position Lessened by LGT Group Foundation

LGT Group Foundation decreased its holdings in Bristol-Myers Squibb (NYSE:BMY) by 52.5% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 55,008 shares of the biopharmaceutical company’s stock after selling 60,907 shares during the quarter. LGT Group Foundation’s holdings in Bristol-Myers Squibb were worth $2,284,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. ESL Trust Services LLC bought a new position in shares of Bristol-Myers Squibb in the first quarter worth $27,000. LGT Financial Advisors LLC lifted its holdings in shares of 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. MFA Wealth Advisors LLC acquired a new stake in shares of Bristol-Myers Squibb in the second quarter valued at $39,000. Fairman Group LLC acquired a new stake in shares of Bristol-Myers Squibb in the fourth quarter valued at $42,000. Finally, Beach Investment Counsel Inc. PA acquired a new stake in shares of Bristol-Myers Squibb in the second quarter valued at $42,000. Institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Stock Down 0.4 %

Shares of Bristol-Myers Squibb stock opened at $48.50 on Tuesday. The stock has a 50-day moving average price of $46.09 and a 200 day moving average price of $46.53. The company has a market cap of $98.33 billion, a P/E ratio of -15.65, a P/E/G ratio of 12.62 and a beta of 0.46. 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 $61.42.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.64 by $0.43. The firm had revenue of $12.20 billion during the quarter, compared to the consensus estimate of $11.54 billion. Bristol-Myers Squibb had a positive return on equity of 12.51% and a negative net margin of 14.06%. The business’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same period in the prior year, the business earned $1.75 EPS. As a group, analysts expect that Bristol-Myers Squibb will post 0.77 EPS for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Friday, July 5th were given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 4.95%. The ex-dividend date of this dividend was Friday, July 5th. Bristol-Myers Squibb’s payout ratio is currently -77.42%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Cantor Fitzgerald restated a “neutral” rating and issued a $45.00 price objective on shares of Bristol-Myers Squibb in a report on Monday, July 22nd. StockNews.com upgraded Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Monday, July 29th. TD Cowen upped their price objective on Bristol-Myers Squibb from $45.00 to $53.00 and gave the company a “hold” rating in a report on Monday, August 12th. Deutsche Bank Aktiengesellschaft reduced their target price 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. Finally, Barclays upped their target price on Bristol-Myers Squibb from $41.00 to $42.00 and gave the company an “underweight” rating in a report on Thursday, August 22nd. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned 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, Bristol-Myers Squibb has a consensus rating of “Hold” and an average price target of $54.67.

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.