Bristol-Myers Squibb (NYSE:BMY) Shares Sold by HBK Sorce Advisory LLC

HBK Sorce Advisory LLC trimmed its holdings in Bristol-Myers Squibb (NYSE:BMY) by 3.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 31,544 shares of the biopharmaceutical company’s stock after selling 1,034 shares during the period. HBK Sorce Advisory LLC’s holdings in Bristol-Myers Squibb were worth $1,310,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Traynor Capital Management Inc. grew its holdings in shares of Bristol-Myers Squibb by 2.8% during the first quarter. Traynor Capital Management Inc. now owns 7,672 shares of the biopharmaceutical company’s stock worth $416,000 after purchasing an additional 207 shares during the last quarter. Newbridge Financial Services Group Inc. increased its position in shares of Bristol-Myers Squibb by 12.8% in the 1st quarter. Newbridge Financial Services Group Inc. now owns 1,910 shares of the biopharmaceutical company’s stock valued at $104,000 after buying an additional 216 shares in the last quarter. Paragon Capital Management LLC boosted 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 buying an additional 222 shares during the period. OmniStar Financial Group Inc. raised its holdings in shares of Bristol-Myers Squibb by 1.7% during the second quarter. OmniStar Financial Group Inc. now owns 13,316 shares of the biopharmaceutical company’s stock worth $553,000 after acquiring an additional 224 shares during the period. Finally, LGT Financial Advisors LLC raised its holdings in shares of Bristol-Myers Squibb by 42.7% in the second quarter. LGT Financial Advisors LLC now owns 759 shares of the biopharmaceutical company’s stock valued at $32,000 after purchasing an additional 227 shares during the last quarter. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

BMY has been the topic of a number of analyst reports. Jefferies Financial Group upped 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. Cantor Fitzgerald reiterated a “neutral” rating and set a $45.00 price target on shares of Bristol-Myers Squibb in a report on Monday, July 22nd. Barclays lifted their price objective on Bristol-Myers Squibb from $41.00 to $42.00 and gave the stock an “underweight” rating in a research note on Thursday, August 22nd. Deutsche Bank Aktiengesellschaft cut their price target on Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating on the stock in a report on Tuesday, July 23rd. Finally, 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. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $54.67.

Bristol-Myers Squibb Stock Performance

NYSE BMY opened at $49.13 on Friday. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.02 and a current ratio of 1.16. The company has a market capitalization of $99.61 billion, a PE ratio of -15.85, a price-to-earnings-growth ratio of 12.59 and a beta of 0.46. Bristol-Myers Squibb has a 52-week low of $39.35 and a 52-week high of $60.55. The company has a 50-day simple moving average of $46.79 and a 200 day simple moving average of $46.53.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 EPS for the quarter, beating analysts’ consensus estimates of $1.64 by $0.43. The firm had revenue of $12.20 billion for 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 business’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.75 EPS. On average, research analysts predict that Bristol-Myers Squibb will post 0.77 EPS for the current year.

Bristol-Myers Squibb Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 4th will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 4.88%. The ex-dividend date of this dividend is Friday, October 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -77.42%.

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.