Delta Financial Advisors LLC Lowers Position in Bristol-Myers Squibb (NYSE:BMY)

Delta Financial Advisors LLC decreased its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 5.5% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 16,357 shares of the biopharmaceutical company’s stock after selling 960 shares during the quarter. Delta Financial Advisors LLC’s holdings in Bristol-Myers Squibb were worth $679,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BMY. Northwest Financial Advisors purchased a new stake in Bristol-Myers Squibb in the 4th quarter worth $27,000. ESL Trust Services LLC purchased a new position in Bristol-Myers Squibb in the 1st quarter worth about $27,000. LGT Financial Advisors LLC raised its stake in shares of Bristol-Myers Squibb by 42.7% during the second quarter. LGT Financial Advisors LLC now owns 759 shares of the biopharmaceutical company’s stock valued at $32,000 after acquiring an additional 227 shares in the last quarter. MFA Wealth Advisors LLC purchased a new stake in shares of Bristol-Myers Squibb in the 2nd quarter worth $39,000. Finally, Fairman Group LLC bought a new position in Bristol-Myers Squibb during the 4th quarter worth about $42,000. Institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Stock Performance

NYSE:BMY opened at $48.70 on Friday. Bristol-Myers Squibb has a twelve month low of $39.35 and a twelve month high of $61.42. The company has a market cap of $98.72 billion, a P/E ratio of -15.71, a P/E/G ratio of 12.92 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. The company’s 50-day moving average price is $45.95 and its 200-day moving average price is $46.58.

Bristol-Myers Squibb (NYSE:BMY) last issued its earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share for the quarter, topping the consensus estimate 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 analysts’ expectations of $11.54 billion. During the same period in the previous year, the firm posted $1.75 EPS. The business’s revenue for the quarter was up 8.7% compared to the same quarter last year. On average, sell-side analysts forecast that Bristol-Myers Squibb will post 0.77 earnings per share for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Friday, July 5th were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.93%. The ex-dividend date of this dividend was Friday, July 5th. Bristol-Myers Squibb’s dividend payout ratio is currently -77.42%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on BMY shares. TD Cowen lifted their price target on Bristol-Myers Squibb from $45.00 to $53.00 and gave the company a “hold” rating in a report on Monday, August 12th. Barclays upped their price target on shares of Bristol-Myers Squibb from $41.00 to $42.00 and gave the company an “underweight” rating in a research note on Thursday, August 22nd. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $45.00 target price on shares of Bristol-Myers Squibb in a report on Monday, July 22nd. StockNews.com upgraded shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 29th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target 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. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $54.67.

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.