Bristol-Myers Squibb (NYSE:BMY) Stake Decreased by Park Edge Advisors LLC

Park Edge Advisors LLC trimmed its holdings in Bristol-Myers Squibb (NYSE:BMY) by 3.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,777 shares of the biopharmaceutical company’s stock after selling 600 shares during the quarter. Park Edge Advisors LLC’s holdings in Bristol-Myers Squibb were worth $765,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. Capital International Investors grew its stake in shares of Bristol-Myers Squibb by 14.1% in the first quarter. Capital International Investors now owns 70,203,814 shares of the biopharmaceutical company’s stock worth $3,807,153,000 after purchasing an additional 8,675,322 shares in the last quarter. M&G Plc acquired a new stake in Bristol-Myers Squibb in the first quarter worth about $392,608,000. Pzena Investment Management LLC grew its position in Bristol-Myers Squibb by 119.8% in the 1st quarter. Pzena Investment Management LLC now owns 12,293,913 shares of the biopharmaceutical company’s stock valued at $666,699,000 after buying an additional 6,701,097 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in Bristol-Myers Squibb by 77.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,547,823 shares of the biopharmaceutical company’s stock valued at $680,469,000 after buying an additional 5,461,767 shares during the period. Finally, Van ECK Associates Corp raised its position in shares of Bristol-Myers Squibb by 97.2% during the 1st quarter. Van ECK Associates Corp now owns 7,949,173 shares of the biopharmaceutical company’s stock worth $431,084,000 after buying an additional 3,918,234 shares in the last quarter. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Bristol-Myers Squibb Stock Down 1.9 %

Bristol-Myers Squibb stock traded down $1.00 during mid-day trading on Friday, hitting $51.92. The company’s stock had a trading volume of 7,127,425 shares, compared to its average volume of 14,553,149. Bristol-Myers Squibb has a 52-week low of $39.35 and a 52-week high of $55.29. The company has a market cap of $105.25 billion, a PE ratio of -16.75, a price-to-earnings-growth ratio of 13.75 and a beta of 0.46. 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 firm’s 50 day moving average is $50.75 and its 200 day moving average is $46.41.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly 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. 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 analyst estimates of $11.54 billion. During the same period in the prior year, the firm earned $1.75 earnings per share. The firm’s revenue was up 8.7% compared to the same quarter last year. On average, analysts anticipate that Bristol-Myers Squibb will post 0.77 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 4th will be given a $0.60 dividend. The ex-dividend date is Friday, October 4th. This represents a $2.40 dividend on an annualized basis and a yield of 4.62%. Bristol-Myers Squibb’s payout ratio is -77.42%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on BMY shares. TD Cowen raised their price objective on shares of Bristol-Myers Squibb from $53.00 to $59.00 and gave the company a “hold” rating in a research note on Monday, October 7th. Jefferies Financial Group boosted their price objective 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 restated a “market perform” rating and issued a $48.00 price objective on shares of Bristol-Myers Squibb in a report on Monday, September 23rd. UBS Group lifted their target price on Bristol-Myers Squibb from $50.00 to $54.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Finally, Deutsche Bank Aktiengesellschaft cut their price target 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. Two investment analysts have rated the stock with a sell rating, fifteen have given a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $53.31.

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.