CGN Advisors LLC Reduces Stock Holdings in Bristol-Myers Squibb (NYSE:BMY)

CGN Advisors LLC lessened its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 74.9% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 10,200 shares of the biopharmaceutical company’s stock after selling 30,495 shares during the quarter. CGN Advisors LLC’s holdings in Bristol-Myers Squibb were worth $424,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Foundation Resource Management Inc. purchased a new stake in Bristol-Myers Squibb in the second quarter valued at $6,528,000. First Affirmative Financial Network increased its position in shares of Bristol-Myers Squibb by 17.6% during the second quarter. First Affirmative Financial Network now owns 5,548 shares of the biopharmaceutical company’s stock worth $230,000 after purchasing an additional 830 shares in the last quarter. Keystone Financial Planning Inc. lifted its holdings in shares of Bristol-Myers Squibb by 1.4% in the 2nd quarter. Keystone Financial Planning Inc. now owns 135,826 shares of the biopharmaceutical company’s stock valued at $5,641,000 after purchasing an additional 1,899 shares during the last quarter. CWM LLC boosted its position in shares of Bristol-Myers Squibb by 4.5% in the 2nd quarter. CWM LLC now owns 542,687 shares of the biopharmaceutical company’s stock valued at $22,538,000 after purchasing an additional 23,224 shares during the period. Finally, CVA Family Office LLC grew its stake in Bristol-Myers Squibb by 18.2% during the 2nd quarter. CVA Family Office LLC now owns 7,993 shares of the biopharmaceutical company’s stock worth $332,000 after buying an additional 1,229 shares during the last quarter. Institutional investors and hedge funds own 76.41% of the company’s stock.

Bristol-Myers Squibb Price Performance

Shares of NYSE BMY traded up $0.35 during trading on Thursday, hitting $46.85. 15,212,928 shares of the company were exchanged, compared to its average volume of 15,980,182. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.16 and a quick ratio of 0.99. Bristol-Myers Squibb has a 1 year low of $39.35 and a 1 year high of $63.41. The company has a market cap of $94.97 billion, a price-to-earnings ratio of -15.09, a PEG ratio of 12.51 and a beta of 0.44. The firm’s fifty day moving average price is $42.78 and its 200 day moving average price is $46.67.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings data on Friday, July 26th. The biopharmaceutical company reported $2.07 EPS for the quarter, topping 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 the consensus estimate of $11.54 billion. During the same quarter in the previous year, the firm earned $1.75 earnings per share. The firm’s revenue was up 8.7% on a year-over-year basis. On average, 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 disclosed a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Friday, July 5th were issued a dividend of $0.60 per share. The ex-dividend date of this dividend was Friday, July 5th. This represents a $2.40 annualized dividend and a yield of 5.12%. Bristol-Myers Squibb’s dividend payout ratio is presently -77.42%.

Analysts Set New Price Targets

Several research firms have recently weighed in on BMY. Cantor Fitzgerald reissued a “neutral” rating and issued a $45.00 price objective on shares of Bristol-Myers Squibb in a report on Monday, July 22nd. BMO Capital Markets lowered their price objective on shares of Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating on the stock in a research report on Friday, April 26th. Barclays cut shares of Bristol-Myers Squibb from an “overweight” rating to an “equal weight” rating and set a $41.00 target price for the company. in a report on Monday, July 29th. Wells Fargo & Company raised their price target on Bristol-Myers Squibb from $51.00 to $52.00 and gave the stock an “equal weight” rating in a report on Thursday, April 18th. Finally, StockNews.com raised Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $55.79.

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.