Insight Inv LLC Sells 2,100 Shares of Bristol-Myers Squibb (NYSE:BMY)

Insight Inv LLC trimmed its position in Bristol-Myers Squibb (NYSE:BMY) by 8.5% during the second quarter, HoldingsChannel.com reports. The fund owned 22,671 shares of the biopharmaceutical company’s stock after selling 2,100 shares during the quarter. Insight Inv LLC’s holdings in Bristol-Myers Squibb were worth $942,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Global Assets Advisory LLC acquired a new position in shares of Bristol-Myers Squibb during the 1st quarter worth $5,161,000. Lincoln National Corp grew its position in Bristol-Myers Squibb by 7.7% in the first quarter. Lincoln National Corp now owns 42,894 shares of the biopharmaceutical company’s stock valued at $2,326,000 after acquiring an additional 3,052 shares during the last quarter. Chapin Davis Inc. raised its stake in Bristol-Myers Squibb by 22.6% during the first quarter. Chapin Davis Inc. now owns 22,544 shares of the biopharmaceutical company’s stock worth $1,223,000 after acquiring an additional 4,159 shares in the last quarter. Sierra Summit Advisors LLC bought a new position in shares of Bristol-Myers Squibb in the fourth quarter worth about $755,000. Finally, Scotia Capital Inc. boosted its stake in shares of Bristol-Myers Squibb by 48.6% in the 4th quarter. Scotia Capital Inc. now owns 236,724 shares of the biopharmaceutical company’s stock valued at $12,146,000 after purchasing an additional 77,471 shares in the last quarter. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Bristol-Myers Squibb Trading Down 0.4 %

NYSE:BMY opened at $48.50 on Tuesday. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $61.42. The firm’s fifty day moving average is $46.09 and its 200-day moving average is $46.53. The firm 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 debt-to-equity ratio of 2.86, a quick ratio of 1.02 and a current ratio of 1.16.

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, beating analysts’ consensus estimates 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 company had revenue of $12.20 billion for the quarter, compared to the consensus estimate of $11.54 billion. During the same period in the previous year, the business earned $1.75 EPS. The firm’s revenue was up 8.7% compared to the same quarter last year. Equities analysts expect that Bristol-Myers Squibb will post 0.77 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

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

Analyst Upgrades and Downgrades

BMY has been the subject of a number of research analyst reports. Barclays upped their price objective on shares of Bristol-Myers Squibb from $41.00 to $42.00 and gave the stock an “underweight” rating in a research report on Thursday, August 22nd. TD Cowen increased their price target on Bristol-Myers Squibb from $45.00 to $53.00 and gave the company a “hold” rating in a research note on Monday, August 12th. StockNews.com upgraded Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 29th. Jefferies Financial Group increased their target price on Bristol-Myers Squibb from $49.00 to $51.00 and gave the company a “hold” rating in a research report on Wednesday, August 28th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target 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. Two 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 company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price 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.