Bristol-Myers Squibb (NYSE:BMY) Shares Sold by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP lowered its position in Bristol-Myers Squibb (NYSE:BMY) by 15.5% during the second quarter, HoldingsChannel reports. The firm owned 14,064,896 shares of the biopharmaceutical company’s stock after selling 2,586,458 shares during the period. Dimensional Fund Advisors LP’s holdings in Bristol-Myers Squibb were worth $584,124,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Traynor Capital Management Inc. grew its stake in Bristol-Myers Squibb by 2.8% in the first quarter. Traynor Capital Management Inc. now owns 7,672 shares of the biopharmaceutical company’s stock valued at $416,000 after purchasing an additional 207 shares in the last quarter. Newbridge Financial Services Group Inc. boosted its stake in shares of Bristol-Myers Squibb by 12.8% during the 1st quarter. Newbridge Financial Services Group Inc. now owns 1,910 shares of the biopharmaceutical company’s stock worth $104,000 after acquiring an additional 216 shares in the last quarter. Paragon Capital Management LLC raised its stake in shares of Bristol-Myers Squibb by 1.1% in the 1st quarter. Paragon Capital Management LLC now owns 20,500 shares of the biopharmaceutical company’s stock valued at $1,112,000 after acquiring an additional 222 shares in the last quarter. OmniStar Financial Group Inc. grew its holdings in Bristol-Myers Squibb by 1.7% during the second quarter. OmniStar Financial Group Inc. now owns 13,316 shares of the biopharmaceutical company’s stock valued at $553,000 after purchasing an additional 224 shares during the last quarter. Finally, LGT Financial Advisors LLC grew its stake in Bristol-Myers Squibb by 42.7% in the 2nd 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 last quarter. 76.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on BMY. Barclays increased their price objective on Bristol-Myers Squibb from $41.00 to $42.00 and gave the company an “underweight” rating in a research report on Thursday, August 22nd. TD Cowen upped their price objective on shares of Bristol-Myers Squibb from $45.00 to $53.00 and gave the company a “hold” rating in a research report on Monday, August 12th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $45.00 price target on shares of Bristol-Myers Squibb in a report on Monday, July 22nd. Deutsche Bank Aktiengesellschaft decreased their price objective on Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating on the stock in a report on Tuesday, July 23rd. Finally, Jefferies Financial Group upped their target price on Bristol-Myers Squibb from $49.00 to $51.00 and gave the company a “hold” rating in a research note on Wednesday, August 28th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $54.67.

Bristol-Myers Squibb Price Performance

BMY opened at $49.13 on Monday. 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’s 50 day simple moving average is $46.79 and its 200-day simple moving average is $46.47. Bristol-Myers Squibb has a one year low of $39.35 and a one year high of $60.55. The stock has a market capitalization of $99.59 billion, a P/E ratio of -15.85, a price-to-earnings-growth ratio of 12.59 and a beta of 0.46.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share for the quarter, topping analysts’ consensus estimates 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 business had revenue of $12.20 billion during the quarter, compared to the consensus estimate of $11.54 billion. During the same period in the previous year, the firm posted $1.75 earnings per share. Bristol-Myers Squibb’s revenue for the quarter was up 8.7% compared to the same quarter last year. Sell-side analysts anticipate that Bristol-Myers Squibb will post 0.77 earnings per share for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

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 given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 4.88%. The ex-dividend date is Friday, October 4th. Bristol-Myers Squibb’s dividend payout ratio is -77.42%.

Bristol-Myers Squibb Company 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.