Bristol-Myers Squibb (NYSE:BMY) Shares Sold by Park Edge Advisors LLC

Park Edge Advisors LLC cut its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 3.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,777 shares of the biopharmaceutical company’s stock after selling 600 shares during the quarter. Park Edge Advisors LLC’s holdings in Bristol-Myers Squibb were worth $765,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of BMY. Capital International Investors lifted its position in Bristol-Myers Squibb by 14.1% during the first quarter. Capital International Investors now owns 70,203,814 shares of the biopharmaceutical company’s stock valued at $3,807,153,000 after buying an additional 8,675,322 shares in the last quarter. M&G Plc acquired a new position in shares of Bristol-Myers Squibb during the 1st quarter valued at $392,608,000. Pzena Investment Management LLC boosted its position in Bristol-Myers Squibb by 119.8% during 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 during the period. Price T Rowe Associates Inc. MD increased its holdings in Bristol-Myers Squibb by 77.1% in 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 in the last quarter. Finally, Van ECK Associates Corp raised its position in 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 valued at $431,084,000 after purchasing an additional 3,918,234 shares during the period. 76.41% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently weighed in on BMY. BMO Capital Markets reaffirmed a “market perform” rating and issued a $48.00 target price on shares of Bristol-Myers Squibb in a research report on Monday, September 23rd. Barclays increased their price objective on shares of Bristol-Myers Squibb from $42.00 to $43.00 and gave the company an “underweight” rating in a research report on Monday, October 7th. Sanford C. Bernstein assumed coverage on shares of Bristol-Myers Squibb in a research report on Thursday, October 17th. They set a “market perform” rating and a $56.00 target price on the stock. TD Cowen lifted their price target on shares of Bristol-Myers Squibb from $53.00 to $59.00 and gave the stock a “hold” rating in a research note on Monday, October 7th. 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 equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $53.31.

Bristol-Myers Squibb Stock Performance

Shares of NYSE BMY traded down $1.00 during midday trading on Friday, hitting $51.92. The company’s stock had a trading volume of 7,127,425 shares, compared to its average volume of 14,553,149. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.02 and a current ratio of 1.16. Bristol-Myers Squibb has a 1-year low of $39.35 and a 1-year high of $55.29. The firm’s fifty day moving average price is $50.75 and its 200-day moving average price is $46.41. The firm has a market cap of $105.25 billion, a P/E ratio of -16.75, a P/E/G ratio of 13.75 and a beta of 0.46.

Bristol-Myers Squibb (NYSE:BMY) last issued its 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 company had revenue of $12.20 billion during the quarter, compared to the consensus estimate of $11.54 billion. Bristol-Myers Squibb had a positive return on equity of 12.51% and a negative net margin of 14.06%. Bristol-Myers Squibb’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.75 earnings per share. On average, sell-side analysts forecast that Bristol-Myers Squibb will post 0.77 EPS for the current fiscal 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 given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 4.62%. The ex-dividend date is Friday, October 4th. Bristol-Myers Squibb’s dividend payout ratio 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.