Mather Group LLC. Has $655,000 Stock Position in Bristol-Myers Squibb (NYSE:BMY)

Mather Group LLC. cut its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 38.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,763 shares of the biopharmaceutical company’s stock after selling 9,899 shares during the quarter. Mather Group LLC.’s holdings in Bristol-Myers Squibb were worth $655,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Norges Bank acquired a new stake in Bristol-Myers Squibb in the 4th quarter worth $1,560,524,000. Capital International Investors increased its stake 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 acquiring an additional 8,675,322 shares during the period. M&G Plc bought a new position in Bristol-Myers Squibb during the first quarter valued at about $392,608,000. Pzena Investment Management LLC lifted its position in shares of 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 acquiring an additional 6,701,097 shares during the period. Finally, Price T Rowe Associates Inc. MD grew 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 worth $680,469,000 after purchasing an additional 5,461,767 shares in the last quarter. 76.41% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on BMY. StockNews.com upgraded Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 29th. Wells Fargo & Company raised their price objective on shares of Bristol-Myers Squibb from $51.00 to $52.00 and gave the stock an “equal weight” rating in a report on Thursday, April 18th. Cantor Fitzgerald reiterated a “neutral” rating and set a $45.00 target price on shares of Bristol-Myers Squibb in a research report on Monday, July 22nd. Barclays lowered shares of Bristol-Myers Squibb from an “overweight” rating to an “equal weight” rating and set a $41.00 price target for the company. in a research report on Monday, July 29th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating on the stock in a report on Tuesday, July 23rd. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Bristol-Myers Squibb has an average rating of “Hold” and an average target price of $55.79.

Bristol-Myers Squibb Price Performance

NYSE:BMY traded down $0.28 during mid-day trading on Tuesday, reaching $47.31. 15,640,456 shares of the company were exchanged, compared to its average volume of 15,979,146. Bristol-Myers Squibb has a 12 month low of $39.35 and a 12 month high of $63.41. The stock has a market cap of $95.90 billion, a PE ratio of -15.26, a PEG ratio of 12.51 and a beta of 0.44. The company has a quick ratio of 0.99, a current ratio of 1.16 and a debt-to-equity ratio of 2.86. The company has a fifty day moving average of $42.52 and a 200 day moving average of $46.69.

Bristol-Myers Squibb (NYSE:BMY) last issued 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. The business had revenue of $12.20 billion during the quarter, compared to analyst estimates of $11.54 billion. Bristol-Myers Squibb had a negative net margin of 14.06% and a positive return on equity of 12.51%. Bristol-Myers Squibb’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.75 earnings per share. On average, research analysts anticipate that Bristol-Myers Squibb will post 0.77 EPS for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Friday, July 5th were given a dividend of $0.60 per share. The ex-dividend date was Friday, July 5th. This represents a $2.40 dividend on an annualized basis and a yield of 5.07%. Bristol-Myers Squibb’s 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.