Mengis Capital Management Inc. Sells 9,535 Shares of Bristol-Myers Squibb (NYSE:BMY)

Mengis Capital Management Inc. cut its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 12.8% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 65,173 shares of the biopharmaceutical company’s stock after selling 9,535 shares during the period. Mengis Capital Management Inc.’s holdings in Bristol-Myers Squibb were worth $3,372,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of BMY. Capital International Investors increased its holdings in Bristol-Myers Squibb by 14.1% in 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. M&G Plc purchased a new stake in shares of Bristol-Myers Squibb in the first quarter worth $392,608,000. Price T Rowe Associates Inc. MD raised its position in shares of 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 purchasing an additional 5,461,767 shares during the period. Federated Hermes Inc. lifted its stake in shares of Bristol-Myers Squibb by 86.3% during the 2nd quarter. Federated Hermes Inc. now owns 7,546,311 shares of the biopharmaceutical company’s stock valued at $313,398,000 after buying an additional 3,495,704 shares in the last quarter. Finally, Swedbank AB purchased a new position in shares of Bristol-Myers Squibb during the 1st quarter valued at $158,223,000. Institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Trading Down 1.3 %

BMY opened at $59.02 on Wednesday. Bristol-Myers Squibb has a 12 month low of $39.35 and a 12 month high of $61.08. The company has a current ratio of 1.24, a quick ratio of 1.09 and a debt-to-equity ratio of 2.83. The stock has a 50-day moving average of $52.24 and a 200 day moving average of $46.99. The firm has a market cap of $119.70 billion, a P/E ratio of -16.44, a P/E/G ratio of 21.63 and a beta of 0.44.

Bristol-Myers Squibb (NYSE:BMY) last announced its earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 EPS for the quarter, topping analysts’ consensus estimates of $1.49 by $0.31. Bristol-Myers Squibb had a positive return on equity of 11.94% and a negative net margin of 15.30%. The firm had revenue of $11.89 billion during the quarter, compared to analysts’ expectations of $11.26 billion. During the same quarter in the previous year, the business earned $2.00 EPS. The company’s quarterly revenue was up 8.4% on a year-over-year basis. As a group, research analysts forecast that Bristol-Myers Squibb will post 0.92 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 4th were issued a $0.60 dividend. The ex-dividend date of this dividend was Friday, October 4th. This represents a $2.40 annualized dividend and a dividend yield of 4.07%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -66.85%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on BMY. StockNews.com raised Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Monday, July 29th. Jefferies Financial Group lifted 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. UBS Group upped their price target on Bristol-Myers Squibb from $50.00 to $54.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Cantor Fitzgerald reiterated a “neutral” rating and set a $50.00 price objective on shares of Bristol-Myers Squibb in a research report on Friday, October 18th. Finally, Barclays upped their target price on shares of Bristol-Myers Squibb from $42.00 to $43.00 and gave the stock an “underweight” rating in a research report on Monday, October 7th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, one has given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $54.07.

Insider Buying and Selling

In other Bristol-Myers Squibb news, SVP Phil M. Holzer sold 700 shares of the firm’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $55.62, for a total value of $38,934.00. Following the completion of the sale, the senior vice president now owns 11,760 shares of the company’s stock, valued at $654,091.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Bristol-Myers Squibb news, EVP Samit Hirawat acquired 1,830 shares of the business’s stock in a transaction on Friday, November 1st. The shares were bought at an average price of $54.67 per share, with a total value of $100,046.10. Following the transaction, the executive vice president now directly owns 62,109 shares of the company’s stock, valued at $3,395,499.03. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Phil M. Holzer sold 700 shares of the stock in a transaction on Monday, November 4th. The stock was sold at an average price of $55.62, for a total value of $38,934.00. Following the completion of the sale, the senior vice president now owns 11,760 shares in the company, valued at approximately $654,091.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.09% of the stock is owned by corporate insiders.

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.