Court Place Advisors LLC Cuts Stake in Bristol-Myers Squibb (NYSE:BMY)

Court Place Advisors LLC decreased its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 4.3% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 13,303 shares of the biopharmaceutical company’s stock after selling 600 shares during the quarter. Court Place Advisors LLC’s holdings in Bristol-Myers Squibb were worth $688,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Capital International Investors lifted its position in Bristol-Myers Squibb by 14.1% during the 1st quarter. Capital International Investors now owns 70,203,814 shares of the biopharmaceutical company’s stock worth $3,807,153,000 after acquiring an additional 8,675,322 shares in the last quarter. Primecap Management Co. CA lifted its position in shares of Bristol-Myers Squibb by 1.0% during the second quarter. Primecap Management Co. CA now owns 23,498,604 shares of the biopharmaceutical company’s stock worth $975,897,000 after purchasing an additional 225,197 shares in the last quarter. Legal & General Group Plc boosted its stake in shares of Bristol-Myers Squibb by 3.8% in the second quarter. Legal & General Group Plc now owns 20,225,040 shares of the biopharmaceutical company’s stock valued at $839,946,000 after purchasing an additional 735,613 shares during the period. Independent Franchise Partners LLP increased its stake in Bristol-Myers Squibb by 4.0% during the 2nd quarter. Independent Franchise Partners LLP now owns 14,600,621 shares of the biopharmaceutical company’s stock worth $606,364,000 after buying an additional 556,295 shares during the period. Finally, Pzena Investment Management LLC lifted its holdings in Bristol-Myers Squibb by 15.0% in the 2nd quarter. Pzena Investment Management LLC now owns 14,134,337 shares of the biopharmaceutical company’s stock worth $586,999,000 after buying an additional 1,840,424 shares in the last quarter. Institutional investors and hedge funds own 76.41% of the company’s stock.

Bristol-Myers Squibb Stock Performance

BMY stock traded down $0.29 during midday trading on Friday, reaching $52.63. The company had a trading volume of 829,185 shares, compared to its average volume of 14,522,741. The firm has a market capitalization of $106.69 billion, a PE ratio of -17.07, a P/E/G ratio of 13.75 and a beta of 0.46. The stock has a 50 day moving average price of $50.63 and a 200 day moving average price of $46.39. Bristol-Myers Squibb has a fifty-two week low of $39.35 and a fifty-two week high of $55.29. The company has a quick ratio of 1.02, a current ratio of 1.16 and a debt-to-equity ratio of 2.86.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings data on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.64 by $0.43. The business had revenue of $12.20 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.75 EPS. Analysts anticipate that Bristol-Myers Squibb will post 0.77 earnings per share for the current year.

Bristol-Myers Squibb Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 4th will be issued a $0.60 dividend. The ex-dividend date is Friday, October 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.56%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -77.42%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on BMY. Jefferies Financial Group boosted their price target on Bristol-Myers Squibb from $49.00 to $51.00 and gave the stock a “hold” rating in a research note on Wednesday, August 28th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $48.00 target price on shares of Bristol-Myers Squibb in a research report on Monday, September 23rd. Citigroup cut Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and reduced their target price for the company from $75.00 to $55.00 in a research note on Friday. Barclays lifted their price target on shares of Bristol-Myers Squibb from $42.00 to $43.00 and gave the stock an “underweight” rating in a research note on Monday, October 7th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $50.00 price objective on shares of Bristol-Myers Squibb in a research note on Friday, October 18th. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $53.31.

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.