Donaldson Capital Management LLC Sells 3,655 Shares of Bristol-Myers Squibb (NYSE:BMY)

Donaldson Capital Management LLC lowered its stake in Bristol-Myers Squibb (NYSE:BMY) by 9.0% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 36,742 shares of the biopharmaceutical company’s stock after selling 3,655 shares during the quarter. Donaldson Capital Management LLC’s holdings in Bristol-Myers Squibb were worth $1,901,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Reston Wealth Management LLC bought a new position in Bristol-Myers Squibb during the third quarter valued at $25,000. ESL Trust Services LLC purchased a new position in Bristol-Myers Squibb in the first quarter worth about $27,000. Valued Wealth Advisors LLC raised its position in Bristol-Myers Squibb by 1,168.1% during the third quarter. Valued Wealth Advisors LLC now owns 596 shares of the biopharmaceutical company’s stock valued at $31,000 after purchasing an additional 549 shares during the period. ORG Wealth Partners LLC purchased a new stake in shares of Bristol-Myers Squibb in the third quarter valued at $34,000. Finally, LGT Financial Advisors LLC boosted its stake in shares of Bristol-Myers Squibb by 42.7% during the 2nd quarter. LGT Financial Advisors LLC now owns 759 shares of the biopharmaceutical company’s stock worth $32,000 after purchasing an additional 227 shares during the period. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on BMY shares. UBS Group boosted their price objective on Bristol-Myers Squibb from $50.00 to $54.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. StockNews.com raised shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 29th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating on the stock in a research report on Tuesday, July 23rd. Cantor Fitzgerald reissued a “neutral” rating and issued a $50.00 price objective on shares of Bristol-Myers Squibb in a research note on Friday, October 18th. Finally, Jefferies Financial Group upped their target price on Bristol-Myers Squibb from $49.00 to $51.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Bristol-Myers Squibb presently has a consensus rating of “Hold” and an average price target of $53.00.

Bristol-Myers Squibb Stock Down 2.6 %

Shares of BMY stock opened at $54.32 on Monday. The stock’s fifty day moving average price is $51.26 and its 200 day moving average price is $46.56. Bristol-Myers Squibb has a 1-year low of $39.35 and a 1-year high of $56.20. The company has a market cap of $110.13 billion, a price-to-earnings ratio of -15.13, a price-to-earnings-growth ratio of 15.49 and a beta of 0.44. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.16 and a quick ratio of 1.02.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share for the quarter, topping analysts’ consensus estimates of $1.49 by $0.31. The business had revenue of $11.89 billion for the quarter, compared to analyst estimates of $11.26 billion. Bristol-Myers Squibb had a positive return on equity of 11.40% and a negative net margin of 15.30%. The company’s revenue was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.00 earnings per share. On average, research analysts expect that Bristol-Myers Squibb will post 0.72 earnings per share for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 4th were issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.42%. The ex-dividend date of this dividend was Friday, October 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -66.85%.

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.