Valley Wealth Managers Inc. Decreases Position in Bristol-Myers Squibb (NYSE:BMY)

Valley Wealth Managers Inc. trimmed its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 3.0% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 70,165 shares of the biopharmaceutical company’s stock after selling 2,176 shares during the period. Valley Wealth Managers Inc.’s holdings in Bristol-Myers Squibb were worth $2,914,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in BMY. Gryphon Financial Partners LLC grew its holdings in shares of Bristol-Myers Squibb by 23.5% during the fourth quarter. Gryphon Financial Partners LLC now owns 5,235 shares of the biopharmaceutical company’s stock valued at $280,000 after buying an additional 995 shares during the last quarter. Foundations Investment Advisors LLC grew its stake in Bristol-Myers Squibb by 10.0% during the 4th quarter. Foundations Investment Advisors LLC now owns 58,514 shares of the biopharmaceutical company’s stock valued at $2,848,000 after purchasing an additional 5,315 shares during the last quarter. Haverford Trust Co grew its stake in Bristol-Myers Squibb by 2.0% during the 4th quarter. Haverford Trust Co now owns 78,241 shares of the biopharmaceutical company’s stock valued at $4,015,000 after purchasing an additional 1,518 shares during the last quarter. Fiera Capital Corp purchased a new position in shares of Bristol-Myers Squibb in the fourth quarter worth about $508,000. Finally, Atlantic Edge Private Wealth Management LLC purchased a new position in shares of Bristol-Myers Squibb in the fourth quarter worth about $67,000. 76.41% of the stock is owned by institutional investors and hedge funds.

Bristol-Myers Squibb Trading Down 0.7 %

Shares of NYSE:BMY opened at $48.25 on Friday. The business’s 50 day moving average price is $46.60 and its 200-day moving average price is $46.54. Bristol-Myers Squibb has a 1 year low of $39.35 and a 1 year high of $60.58. The company has a current ratio of 1.16, a quick ratio of 1.02 and a debt-to-equity ratio of 2.86.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings data on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.64 by $0.43. The business had revenue of $12.20 billion for the quarter, compared to the consensus estimate of $11.54 billion. Bristol-Myers Squibb had a negative net margin of 14.06% and a positive return on equity of 12.51%. The company’s revenue was up 8.7% compared to the same quarter last year. During the same period last year, the firm posted $1.75 earnings per share. Research analysts anticipate that Bristol-Myers Squibb will post 0.77 earnings per share for the current year.

Bristol-Myers Squibb Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 4th will be paid a dividend of $0.60 per share. The ex-dividend date is Friday, October 4th. This represents a $2.40 annualized dividend and a yield of 4.97%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently -77.42%.

Analyst Upgrades and Downgrades

BMY has been the topic of several research reports. Barclays increased their price target on shares of Bristol-Myers Squibb from $41.00 to $42.00 and gave the stock an “underweight” rating in a report on Thursday, August 22nd. StockNews.com raised shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Monday, July 29th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $45.00 price target on shares of Bristol-Myers Squibb in a report on Monday, July 22nd. TD Cowen lifted their price objective on Bristol-Myers Squibb from $45.00 to $53.00 and gave the company a “hold” rating in a research note on Monday, August 12th. 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 research note on Wednesday, August 28th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $54.67.

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.