Bristol-Myers Squibb (NYSE:BMY) Shares Sold by Carnegie Investment Counsel

Carnegie Investment Counsel lowered its position in Bristol-Myers Squibb (NYSE:BMY) by 36.1% in the second quarter, HoldingsChannel reports. The fund owned 33,539 shares of the biopharmaceutical company’s stock after selling 18,907 shares during the quarter. Carnegie Investment Counsel’s holdings in Bristol-Myers Squibb were worth $1,393,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. ESL Trust Services LLC acquired a new position in shares of Bristol-Myers Squibb in the first quarter worth about $27,000. Northwest Financial Advisors acquired a new position in shares of Bristol-Myers Squibb during the 4th quarter worth about $27,000. Accordant Advisory Group Inc acquired a new position in shares of Bristol-Myers Squibb during the 1st quarter worth about $31,000. Pacific Capital Wealth Advisors Inc. acquired a new position in shares of Bristol-Myers Squibb during the 4th quarter worth about $34,000. Finally, Wetzel Investment Advisors Inc. acquired a new position in shares of Bristol-Myers Squibb during the 4th quarter worth about $40,000. Institutional investors and hedge funds own 76.41% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on BMY. Cantor Fitzgerald restated a “neutral” rating and set a $45.00 price target on shares of Bristol-Myers Squibb in a research report on Monday, July 22nd. Barclays downgraded shares of Bristol-Myers Squibb from an “overweight” rating to an “equal weight” rating and set a $41.00 price target for the company. in a research report on Monday, July 29th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating for the company in a report on Tuesday, July 23rd. StockNews.com upgraded shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Monday, July 29th. Finally, BMO Capital Markets dropped their price target on shares of 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. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $54.86.

Bristol-Myers Squibb Trading Down 0.2 %

Shares of NYSE:BMY traded down $0.11 during mid-day trading on Wednesday, reaching $48.87. 941,687 shares of the company were exchanged, compared to its average volume of 15,724,434. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.16 and a quick ratio of 0.99. The firm has a market cap of $99.06 billion, a price-to-earnings ratio of -15.78, a P/E/G ratio of 12.51 and a beta of 0.44. The firm’s 50-day simple moving average is $43.99 and its 200 day simple moving average is $46.57. Bristol-Myers Squibb has a 1 year low of $39.35 and a 1 year high of $63.41.

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

Bristol-Myers Squibb Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Friday, July 5th were issued a dividend of $0.60 per share. The ex-dividend date was Friday, July 5th. This represents a $2.40 dividend on an annualized basis and a yield of 4.91%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -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.