Court Place Advisors LLC Reduces Holdings in Bristol-Myers Squibb (NYSE:BMY)

by · The Markets Daily

Court Place Advisors LLC reduced its position in Bristol-Myers Squibb (NYSE:BMY – Free Report) by 4.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,303 shares of the biopharmaceutical company’s stock after selling 600 shares during the quarter. Court Place Advisors LLC’s holdings in Bristol-Myers Squibb were worth $688,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. ESL Trust Services LLC purchased a new position in Bristol-Myers Squibb during the 1st quarter worth $27,000. LGT Financial Advisors LLC grew its holdings in shares of Bristol-Myers Squibb by 42.7% during the second quarter. LGT Financial Advisors LLC now owns 759 shares of the biopharmaceutical company’s stock worth $32,000 after buying an additional 227 shares during the last quarter. ORG Wealth Partners LLC acquired a new position in Bristol-Myers Squibb in the 3rd quarter valued at about $34,000. MFA Wealth Advisors LLC acquired a new stake in Bristol-Myers Squibb during the 2nd quarter worth approximately $39,000. Finally, Beach Investment Counsel Inc. PA purchased a new position in shares of Bristol-Myers Squibb in the 2nd quarter valued at approximately $42,000. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Bristol-Myers Squibb Price Performance

Shares of BMY traded down $0.29 during mid-day trading on Friday, reaching $52.63. 829,185 shares of the company’s stock were exchanged, compared to its average volume of 14,522,741. Bristol-Myers Squibb has a 52-week low of $39.35 and a 52-week high of $55.29. The company has a quick ratio of 1.02, a current ratio of 1.16 and a debt-to-equity ratio of 2.86. The company has a 50-day simple moving average of $50.63 and a two-hundred day simple moving average of $46.39. The company has a market cap of $106.69 billion, a price-to-earnings ratio of -17.07, a PEG ratio of 13.75 and a beta of 0.46.

Bristol-Myers Squibb (NYSE:BMY – Get Free Report) last issued its quarterly earnings data 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. The business had revenue of $12.20 billion for the quarter, compared to the consensus estimate of $11.54 billion. Bristol-Myers Squibb had a positive return on equity of 12.51% and a negative net margin of 14.06%. The business’s revenue was up 8.7% on a year-over-year basis. During the same period in the prior year, the business earned $1.75 earnings per share. On average, sell-side analysts predict that Bristol-Myers Squibb will post 0.77 EPS for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 4th will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.40 annualized dividend and a dividend yield of 4.56%. Bristol-Myers Squibb’s dividend payout ratio is currently -77.42%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Citigroup downgraded Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $75.00 to $55.00 in a report on Friday. UBS Group boosted their price target on shares of Bristol-Myers Squibb from $50.00 to $54.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. BMO Capital Markets restated a “market perform” rating and issued a $48.00 price objective on shares of Bristol-Myers Squibb in a research report on Monday, September 23rd. StockNews.com upgraded Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 29th. Finally, Jefferies Financial Group lifted their price target on Bristol-Myers Squibb from $49.00 to $51.00 and gave the company a “hold” rating in a research note on Wednesday, August 28th. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $53.31.

Get Our Latest Stock Analysis on BMY

About Bristol-Myers Squibb

(Free Report)

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.

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