Ballentine Partners LLC Has $2.02 Million Stock Position in Bristol-Myers Squibb (NYSE:BMY)

Ballentine Partners LLC lifted its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 9.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 39,045 shares of the biopharmaceutical company’s stock after purchasing an additional 3,399 shares during the quarter. Ballentine Partners LLC’s holdings in Bristol-Myers Squibb were worth $2,020,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. ESL Trust Services LLC bought a new stake in Bristol-Myers Squibb in the 1st quarter valued at $27,000. LGT Financial Advisors LLC increased its stake in 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 acquiring an additional 227 shares during the period. ORG Wealth Partners LLC acquired a new position in Bristol-Myers Squibb in the third quarter worth about $34,000. MFA Wealth Advisors LLC bought a new position in Bristol-Myers Squibb during the second quarter worth about $39,000. Finally, Beach Investment Counsel Inc. PA acquired a new stake in Bristol-Myers Squibb during the second quarter valued at approximately $42,000. 76.41% of the stock is currently owned by institutional investors.

Bristol-Myers Squibb Trading Down 1.9 %

BMY opened at $51.92 on Friday. The firm has a 50 day simple moving average of $50.70 and a 200 day simple moving average of $46.44. Bristol-Myers Squibb has a fifty-two week low of $39.35 and a fifty-two week high of $55.29. The company has a market cap of $105.24 billion, a price-to-earnings ratio of -16.75, a price-to-earnings-growth ratio of 13.75 and a beta of 0.46. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.16 and a quick ratio of 1.02.

Bristol-Myers Squibb (NYSE:BMY) last posted 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 positive return on equity of 12.51% and a negative net margin of 14.06%. The company had revenue of $12.20 billion for the quarter, compared to the consensus estimate of $11.54 billion. During the same quarter in the prior year, the business posted $1.75 EPS. The firm’s quarterly revenue was up 8.7% on a year-over-year basis. On average, sell-side analysts anticipate that Bristol-Myers Squibb will post 0.77 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 4th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 4.62%. The ex-dividend date of this dividend is Friday, October 4th. Bristol-Myers Squibb’s payout ratio is -77.42%.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Jefferies Financial Group raised their target price on Bristol-Myers Squibb from $49.00 to $51.00 and gave the stock a “hold” rating in a research report on Wednesday, August 28th. UBS Group upped their target price on shares of Bristol-Myers Squibb from $50.00 to $54.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. TD Cowen increased their target price on shares of Bristol-Myers Squibb from $53.00 to $59.00 and gave the stock a “hold” rating in a research report on Monday, October 7th. Barclays upped their price objective on shares of Bristol-Myers Squibb from $42.00 to $43.00 and gave the stock an “underweight” rating in a research note on Monday, October 7th. Finally, Sanford C. Bernstein began coverage on Bristol-Myers Squibb in a report on Thursday, October 17th. They issued a “market perform” rating and a $56.00 target price on the stock. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $53.31.

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.