Polaris Greystone Financial Group LLC trimmed its stake in shares of Bristol-Myers Squibb Co (NYSE:BMY) by 98.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,789 shares of the biopharmaceutical company’s stock after selling 337,984 shares during the period. Polaris Greystone Financial Group LLC’s holdings in Bristol-Myers Squibb were worth $235,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of BMY. CSat Investment Advisory L.P. acquired a new stake in shares of Bristol-Myers Squibb in the second quarter valued at about $113,000. Landaas & Co. WI ADV acquired a new stake in shares of Bristol-Myers Squibb in the second quarter valued at about $131,000. Mount Yale Investment Advisors LLC acquired a new stake in shares of Bristol-Myers Squibb in the first quarter valued at about $179,000. Selective Wealth Management acquired a new stake in shares of Bristol-Myers Squibb in the third quarter valued at about $184,000. Finally, LFA Lugano Financial Advisors SA raised its position in shares of Bristol-Myers Squibb by 85.8% in the third quarter. LFA Lugano Financial Advisors SA now owns 3,207 shares of the biopharmaceutical company’s stock valued at $199,000 after buying an additional 1,481 shares during the last quarter. Institutional investors and hedge funds own 72.32% of the company’s stock.
A number of brokerages have recently commented on BMY. ValuEngine upgraded shares of Bristol-Myers Squibb from a “sell” rating to a “hold” rating in a research report on Saturday, July 14th. Credit Suisse Group raised their price objective on shares of Bristol-Myers Squibb from $58.00 to $61.00 and gave the stock a “neutral” rating in a research report on Friday, July 27th. Barclays raised their price objective on shares of Bristol-Myers Squibb from $55.00 to $58.00 and gave the stock an “equal weight” rating in a research report on Friday, October 12th. Zacks Investment Research upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and set a $70.00 price objective for the company in a research report on Friday, October 5th. Finally, BMO Capital Markets restated a “hold” rating on shares of Bristol-Myers Squibb in a research report on Sunday, July 22nd. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $63.13.
Bristol-Myers Squibb stock opened at $54.30 on Friday. Bristol-Myers Squibb Co has a 12-month low of $49.96 and a 12-month high of $70.05. The stock has a market cap of $88.76 billion, a P/E ratio of 18.04, a PEG ratio of 1.45 and a beta of 0.98. The company has a quick ratio of 1.28, a current ratio of 1.40 and a debt-to-equity ratio of 0.46.
Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings results on Thursday, July 26th. The biopharmaceutical company reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.14. Bristol-Myers Squibb had a net margin of 1.74% and a return on equity of 42.58%. The business had revenue of $5.70 billion during the quarter, compared to analysts’ expectations of $5.48 billion. During the same period last year, the business earned $0.74 earnings per share. The business’s revenue for the quarter was up 10.9% on a year-over-year basis. As a group, equities research analysts predict that Bristol-Myers Squibb Co will post 3.64 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, November 1st. Shareholders of record on Friday, October 5th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.95%. The ex-dividend date of this dividend is Thursday, October 4th. Bristol-Myers Squibb’s dividend payout ratio is presently 53.16%.
Bristol-Myers Squibb Company Profile
Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, and distributes biopharmaceutical products worldwide. The company offers drugs in various therapeutic classes, such as oncology; cardiovascular; immunoscience; and virology, including human immunodeficiency virus (HIV) infection.
Featured Story: Cash Flow Analysis in Stock Selection
Receive News & Ratings for Bristol-Myers Squibb Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bristol-Myers Squibb and related companies with MarketBeat.com's FREE daily email newsletter.