Dimensional Fund Advisors LP Lowers Stake in Bristol-Myers Squibb (NYSE:BMY)

Dimensional Fund Advisors LP lessened its holdings in Bristol-Myers Squibb (NYSE:BMY) by 15.5% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 14,064,896 shares of the biopharmaceutical company’s stock after selling 2,586,458 shares during the period. Dimensional Fund Advisors LP owned 0.69% of Bristol-Myers Squibb worth $584,124,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Capital International Investors lifted its holdings in Bristol-Myers Squibb by 14.1% in the 1st quarter. Capital International Investors now owns 70,203,814 shares of the biopharmaceutical company’s stock worth $3,807,153,000 after purchasing an additional 8,675,322 shares in the last quarter. M&G Plc bought a new position in shares of Bristol-Myers Squibb during the first quarter worth $392,608,000. Pzena Investment Management LLC lifted its stake in Bristol-Myers Squibb by 119.8% in the 1st quarter. Pzena Investment Management LLC now owns 12,293,913 shares of the biopharmaceutical company’s stock worth $666,699,000 after purchasing an additional 6,701,097 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Bristol-Myers Squibb by 77.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,547,823 shares of the biopharmaceutical company’s stock valued at $680,469,000 after purchasing an additional 5,461,767 shares during the last quarter. Finally, Van ECK Associates Corp increased its holdings in shares of Bristol-Myers Squibb by 97.2% in the first quarter. Van ECK Associates Corp now owns 7,949,173 shares of the biopharmaceutical company’s stock worth $431,084,000 after purchasing an additional 3,918,234 shares during the last quarter. 76.41% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on BMY shares. Jefferies Financial Group lifted 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. TD Cowen raised 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. StockNews.com raised Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 29th. Barclays lifted their price objective on shares of Bristol-Myers Squibb from $41.00 to $42.00 and gave the stock an “underweight” rating in a research note on Thursday, August 22nd. Finally, Cantor Fitzgerald reissued a “neutral” rating and issued a $45.00 target price on shares of Bristol-Myers Squibb in a research note on Monday, July 22nd. Two research 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. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $54.67.

Bristol-Myers Squibb Stock Up 1.8 %

Bristol-Myers Squibb stock opened at $49.13 on Monday. Bristol-Myers Squibb has a fifty-two week low of $39.35 and a fifty-two week high of $60.55. 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 cap of $99.59 billion, a PE ratio of -15.85, a PEG ratio of 12.59 and a beta of 0.46. The business’s 50-day simple moving average is $46.79 and its two-hundred day simple moving average is $46.47.

Bristol-Myers Squibb (NYSE:BMY) last issued 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 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 for the quarter was up 8.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.75 EPS. Equities analysts anticipate that Bristol-Myers Squibb will post 0.77 EPS for the current year.

Bristol-Myers Squibb Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 4th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.40 dividend on an annualized basis and a yield of 4.88%. Bristol-Myers Squibb’s dividend payout ratio is currently -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.