Boston Financial Mangement LLC Sells 2,725 Shares of Bristol-Myers Squibb (NYSE:BMY)

Boston Financial Mangement LLC trimmed its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 22.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,309 shares of the biopharmaceutical company’s stock after selling 2,725 shares during the period. Boston Financial Mangement LLC’s holdings in Bristol-Myers Squibb were worth $387,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Northwest Financial Advisors purchased a new position in Bristol-Myers Squibb during the fourth quarter valued at $27,000. ESL Trust Services LLC purchased a new position in Bristol-Myers Squibb during the first quarter valued at $27,000. Pacific Capital Wealth Advisors Inc. purchased a new position in Bristol-Myers Squibb during the fourth quarter valued at $34,000. MFA Wealth Advisors LLC purchased a new position in shares of Bristol-Myers Squibb in the 2nd quarter worth $39,000. Finally, Fairman Group LLC purchased a new position in shares of Bristol-Myers Squibb in the 4th quarter worth $42,000. 76.41% of the stock is currently owned by institutional investors.

Bristol-Myers Squibb Stock Up 0.5 %

BMY stock opened at $49.95 on Friday. The firm’s fifty day simple moving average is $45.01 and its 200-day simple moving average is $46.59. The company has a market capitalization of $101.25 billion, a P/E ratio of -16.11, a price-to-earnings-growth ratio of 12.51 and a beta of 0.44. 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 12 month low of $39.35 and a 12 month high of $63.03.

Bristol-Myers Squibb (NYSE:BMY) last posted its earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $11.54 billion. During the same period in the previous year, the business posted $1.75 EPS. The business’s revenue was up 8.7% compared to the same quarter last year. As a group, equities research analysts forecast that Bristol-Myers Squibb will post 0.77 earnings per share for the current year.

Bristol-Myers Squibb Announces Dividend

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 $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.80%. The ex-dividend date of this dividend was Friday, July 5th. Bristol-Myers Squibb’s dividend payout ratio is currently -77.42%.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating for the company in a research note on Tuesday, July 23rd. Jefferies Financial Group lifted their price objective 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. TD Cowen lifted their price objective on shares of Bristol-Myers Squibb from $45.00 to $53.00 and gave the stock a “hold” rating in a research note on Monday, August 12th. Barclays lifted their price target on shares of Bristol-Myers Squibb from $41.00 to $42.00 and gave the stock an “underweight” rating in a research note on Thursday, August 22nd. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $45.00 price target on shares of Bristol-Myers Squibb in a research note on Monday, July 22nd. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $54.67.

Bristol-Myers Squibb 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.