Texas Permanent School Fund Corp Has $13.97 Million Stake in Bristol-Myers Squibb (NYSE:BMY)

Texas Permanent School Fund Corp trimmed its holdings in Bristol-Myers Squibb (NYSE:BMY) by 20.0% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 336,279 shares of the biopharmaceutical company’s stock after selling 84,324 shares during the period. Texas Permanent School Fund Corp’s holdings in Bristol-Myers Squibb were worth $13,966,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in BMY. ESL Trust Services LLC acquired a new stake in Bristol-Myers Squibb during the 1st quarter worth approximately $27,000. LGT Financial Advisors LLC lifted its holdings in Bristol-Myers Squibb by 42.7% during the 2nd quarter. LGT Financial Advisors LLC now owns 759 shares of the biopharmaceutical company’s stock worth $32,000 after purchasing an additional 227 shares during the last quarter. MFA Wealth Advisors LLC acquired a new stake in Bristol-Myers Squibb during the 2nd quarter worth approximately $39,000. Fairman Group LLC acquired a new stake in Bristol-Myers Squibb during the 4th quarter worth approximately $42,000. Finally, Beach Investment Counsel Inc. PA acquired a new stake in Bristol-Myers Squibb during the 2nd quarter worth approximately $42,000. 76.41% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on BMY shares. Cantor Fitzgerald reissued a “neutral” rating and set a $45.00 price target on shares of Bristol-Myers Squibb in a report on Monday, July 22nd. StockNews.com raised Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Monday, July 29th. Deutsche Bank Aktiengesellschaft lowered their price objective on Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating on the stock in a research note on Tuesday, July 23rd. TD Cowen raised their price objective on Bristol-Myers Squibb from $45.00 to $53.00 and gave the stock a “hold” rating in a research note on Monday, August 12th. Finally, Barclays raised their price objective on Bristol-Myers Squibb from $41.00 to $42.00 and gave the stock an “underweight” rating in a research note on Thursday, August 22nd. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $54.67.

Bristol-Myers Squibb Trading Down 0.4 %

Shares of BMY opened at $48.50 on Tuesday. Bristol-Myers Squibb has a 52-week low of $39.35 and a 52-week high of $61.42. The business’s fifty day moving average is $46.09 and its 200-day moving average is $46.53. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.02 and a current ratio of 1.16. The firm has a market cap of $98.33 billion, a price-to-earnings ratio of -15.65, a PEG ratio of 12.62 and a beta of 0.46.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly 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 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 analyst estimates of $11.54 billion. During the same quarter last year, the company posted $1.75 EPS. The company’s revenue for the quarter was up 8.7% compared to the same quarter last year. Equities analysts anticipate that Bristol-Myers Squibb will post 0.77 EPS for the current fiscal 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 given a dividend of $0.60 per share. The ex-dividend date of this dividend was Friday, July 5th. This represents a $2.40 dividend on an annualized basis and a yield of 4.95%. Bristol-Myers Squibb’s dividend payout ratio is currently -77.42%.

Bristol-Myers Squibb Company 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.