Cullinan Associates Inc. Lowers Stock Holdings in Bristol-Myers Squibb (NYSE:BMY)

Cullinan Associates Inc. lessened its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 12.6% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 92,232 shares of the biopharmaceutical company’s stock after selling 13,324 shares during the period. Cullinan Associates Inc.’s holdings in Bristol-Myers Squibb were worth $4,818,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BMY. Paragon Capital Management LLC increased its holdings in shares of Bristol-Myers Squibb by 1.1% in the first quarter. Paragon Capital Management LLC now owns 20,500 shares of the biopharmaceutical company’s stock valued at $1,112,000 after purchasing an additional 222 shares during the period. OmniStar Financial Group Inc. boosted its position in Bristol-Myers Squibb by 1.7% in the second quarter. OmniStar Financial Group Inc. now owns 13,316 shares of the biopharmaceutical company’s stock valued at $553,000 after buying an additional 224 shares during the last quarter. LGT Financial Advisors LLC increased its holdings in Bristol-Myers Squibb by 42.7% in the 2nd quarter. LGT Financial Advisors LLC now owns 759 shares of the biopharmaceutical company’s stock worth $32,000 after buying an additional 227 shares during the period. Cassia Capital Partners LLC raised its position in Bristol-Myers Squibb by 2.9% during the 3rd quarter. Cassia Capital Partners LLC now owns 8,222 shares of the biopharmaceutical company’s stock worth $425,000 after buying an additional 235 shares during the last quarter. Finally, Tempus Wealth Planning LLC lifted its stake in Bristol-Myers Squibb by 1.5% during the 3rd quarter. Tempus Wealth Planning LLC now owns 15,648 shares of the biopharmaceutical company’s stock valued at $810,000 after acquiring an additional 235 shares during the period. Institutional investors own 76.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Citigroup lowered shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and lowered their price target for the company from $75.00 to $55.00 in a report on Friday. BMO Capital Markets reaffirmed a “market perform” rating and set a $48.00 target price on shares of Bristol-Myers Squibb in a report on Monday, September 23rd. UBS Group lifted their price target on Bristol-Myers Squibb from $50.00 to $54.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. Jefferies Financial Group raised their price objective on shares of Bristol-Myers Squibb from $49.00 to $51.00 and gave the stock a “hold” rating in a research note on Wednesday, August 28th. Finally, Sanford C. Bernstein initiated coverage on shares of Bristol-Myers Squibb in a report on Thursday, October 17th. They set a “market perform” rating and a $56.00 target price for the company. Two 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 stock. Based on data from MarketBeat.com, Bristol-Myers Squibb has a consensus rating of “Hold” and an average price target of $53.31.

Bristol-Myers Squibb Trading Down 1.0 %

NYSE:BMY traded down $0.55 on Friday, hitting $52.37. The stock had a trading volume of 484,515 shares, compared to its average volume of 14,521,076. The company has a fifty day moving average price of $50.63 and a two-hundred day moving average price of $46.39. The stock has a market cap of $106.16 billion, a price-to-earnings ratio of -17.07, a PEG ratio of 13.75 and a beta of 0.46. 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 has a 1-year low of $39.35 and a 1-year high of $55.29.

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

Bristol-Myers Squibb Dividend Announcement

The business also recently announced 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 annualized dividend and a yield of 4.58%. 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.