Bristol-Myers Squibb (NYSE:BMY) Shares Sold by Heritage Investors Management Corp

Heritage Investors Management Corp cut its holdings in Bristol-Myers Squibb (NYSE:BMY) by 0.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 163,144 shares of the biopharmaceutical company’s stock after selling 498 shares during the period. Heritage Investors Management Corp’s holdings in Bristol-Myers Squibb were worth $8,440,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Patriot Financial Group Insurance Agency LLC boosted its stake in shares of Bristol-Myers Squibb by 3.8% during the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 5,595 shares of the biopharmaceutical company’s stock worth $289,000 after acquiring an additional 206 shares in the last quarter. Legacy Wealth Asset Management LLC grew its holdings in shares of Bristol-Myers Squibb by 2.1% in the 3rd quarter. Legacy Wealth Asset Management LLC now owns 10,288 shares of the biopharmaceutical company’s stock valued at $532,000 after acquiring an additional 215 shares in the last quarter. Paragon Capital Management LLC boosted its holdings in shares of Bristol-Myers Squibb by 1.1% during the first quarter. Paragon Capital Management LLC now owns 20,500 shares of the biopharmaceutical company’s stock worth $1,112,000 after acquiring an additional 222 shares during the period. OmniStar Financial Group Inc. boosted its stake in Bristol-Myers Squibb by 1.7% in the second quarter. OmniStar Financial Group Inc. now owns 13,316 shares of the biopharmaceutical company’s stock valued at $553,000 after buying an additional 224 shares in the last quarter. Finally, LGT Financial Advisors LLC lifted its stake in shares of Bristol-Myers Squibb by 42.7% in the second quarter. LGT Financial Advisors LLC now owns 759 shares of the biopharmaceutical company’s stock worth $32,000 after acquiring an additional 227 shares during the period. Institutional investors and hedge funds own 76.41% of the company’s stock.

Bristol-Myers Squibb Stock Down 0.7 %

NYSE BMY traded down $0.37 on Tuesday, reaching $55.08. The stock had a trading volume of 463,520 shares, compared to its average volume of 14,401,733. The business’s 50-day moving average price is $51.41 and its 200 day moving average price is $46.61. Bristol-Myers Squibb has a 12-month low of $39.35 and a 12-month high of $56.20. The company has a debt-to-equity ratio of 2.83, a current ratio of 1.24 and a quick ratio of 1.09.

Bristol-Myers Squibb (NYSE:BMY) last issued its earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share for the quarter, topping analysts’ consensus estimates of $1.49 by $0.31. Bristol-Myers Squibb had a negative net margin of 15.30% and a positive return on equity of 11.94%. The company had revenue of $11.89 billion for the quarter, compared to analysts’ expectations of $11.26 billion. During the same period in the prior year, the company earned $2.00 earnings per share. The firm’s revenue was up 8.4% compared to the same quarter last year. Equities research analysts forecast that Bristol-Myers Squibb will post 0.83 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 Friday, November 1st. Shareholders of record on Friday, October 4th were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 4.36%. The ex-dividend date of this dividend was Friday, October 4th. Bristol-Myers Squibb’s dividend payout ratio is -66.85%.

Analyst Ratings Changes

BMY has been the subject of a number of research analyst reports. BMO Capital Markets lifted their price target on Bristol-Myers Squibb from $53.00 to $57.00 and gave the company a “market perform” rating in a research report on Friday. TD Cowen lifted their price objective on Bristol-Myers Squibb from $53.00 to $59.00 and gave the stock a “hold” rating in a research note on Monday, October 7th. Sanford C. Bernstein began coverage on Bristol-Myers Squibb in a research note on Thursday, October 17th. They set a “market perform” rating and a $56.00 price objective for the company. Cantor Fitzgerald reiterated a “neutral” rating and set a $50.00 target price on shares of Bristol-Myers Squibb in a research report on Friday, October 18th. Finally, Jefferies Financial Group increased their target price on Bristol-Myers Squibb from $49.00 to $51.00 and gave the stock a “hold” rating in a research note on Wednesday, August 28th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $53.00.

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.