Trust Co. of Vermont Sells 2,654 Shares of Bristol-Myers Squibb (NYSE:BMY)

Trust Co. of Vermont lowered its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 6.3% during the third quarter, Holdings Channel reports. The fund owned 39,456 shares of the biopharmaceutical company’s stock after selling 2,654 shares during the period. Trust Co. of Vermont’s holdings in Bristol-Myers Squibb were worth $2,041,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BMY. Cardinal Capital Management bought a new stake in shares of Bristol-Myers Squibb during the third quarter valued at approximately $4,899,000. Secure Asset Management LLC acquired a new position in Bristol-Myers Squibb during the 3rd quarter worth $370,000. Riversedge Advisors LLC bought a new position in Bristol-Myers Squibb in the 3rd quarter valued at $261,000. Good Life Advisors LLC increased its stake in shares of Bristol-Myers Squibb by 107.2% in the 3rd quarter. Good Life Advisors LLC now owns 32,262 shares of the biopharmaceutical company’s stock valued at $1,669,000 after buying an additional 16,689 shares during the period. Finally, Avaii Wealth Management LLC raised its position in shares of Bristol-Myers Squibb by 18.6% during the third quarter. Avaii Wealth Management LLC now owns 12,120 shares of the biopharmaceutical company’s stock worth $627,000 after acquiring an additional 1,899 shares during the last quarter. Institutional investors and hedge funds own 76.41% of the company’s stock.

Analyst Upgrades and Downgrades

BMY has been the topic of several recent research reports. Sanford C. Bernstein started coverage on Bristol-Myers Squibb in a report on Thursday. They issued a “market perform” rating and a $56.00 price target on the stock. StockNews.com raised shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 29th. Jefferies Financial Group boosted their price target on shares of 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 lifted their target price on shares of Bristol-Myers Squibb from $53.00 to $59.00 and gave the stock a “hold” rating in a report on Monday, October 7th. Finally, Barclays increased their price target on Bristol-Myers Squibb from $42.00 to $43.00 and gave the company an “underweight” rating in a research note on Monday, October 7th. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Bristol-Myers Squibb currently has a consensus rating of “Hold” and an average target price of $53.20.

Bristol-Myers Squibb Trading Up 0.1 %

NYSE:BMY opened at $53.23 on Friday. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.16 and a quick ratio of 1.02. The business’s 50-day simple moving average is $50.36 and its 200-day simple moving average is $46.42. Bristol-Myers Squibb has a fifty-two week low of $39.35 and a fifty-two week high of $57.09. The stock has a market capitalization of $107.90 billion, a PE ratio of -17.17, a price-to-earnings-growth ratio of 13.75 and a beta of 0.46.

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

Bristol-Myers Squibb Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 4th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 4.51%. The ex-dividend date is Friday, October 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -77.42%.

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.