HCR Wealth Advisors Reduces Holdings in Bristol-Myers Squibb (NYSE:BMY)

by · The Markets Daily

HCR Wealth Advisors cut its stake in Bristol-Myers Squibb (NYSE:BMY – Free Report) by 5.0% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,472 shares of the biopharmaceutical company’s stock after selling 603 shares during the period. HCR Wealth Advisors’ holdings in Bristol-Myers Squibb were worth $594,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Capital International Investors increased its holdings in Bristol-Myers Squibb by 14.1% in the 1st quarter. Capital International Investors now owns 70,203,814 shares of the biopharmaceutical company’s stock worth $3,807,153,000 after buying an additional 8,675,322 shares during the period. M&G Plc acquired a new position in Bristol-Myers Squibb in the first quarter valued at approximately $392,608,000. Pzena Investment Management LLC boosted its position in Bristol-Myers Squibb by 119.8% in the 1st quarter. Pzena Investment Management LLC now owns 12,293,913 shares of the biopharmaceutical company’s stock worth $666,699,000 after purchasing an additional 6,701,097 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Bristol-Myers Squibb by 77.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,547,823 shares of the biopharmaceutical company’s stock valued at $680,469,000 after purchasing an additional 5,461,767 shares in the last quarter. Finally, Van ECK Associates Corp lifted its stake in shares of Bristol-Myers Squibb by 97.2% in the 1st quarter. Van ECK Associates Corp now owns 7,949,173 shares of the biopharmaceutical company’s stock valued at $431,084,000 after purchasing an additional 3,918,234 shares during the period. Institutional investors and hedge funds own 76.41% of the company’s stock.

Analyst Upgrades and Downgrades

BMY has been the subject of a number of recent analyst reports. Barclays lifted their price objective on shares of Bristol-Myers Squibb from $42.00 to $43.00 and gave the company an “underweight” rating in a report on Monday, October 7th. TD Cowen increased their price target on Bristol-Myers Squibb from $53.00 to $59.00 and gave the stock a “hold” rating in a research report on Monday, October 7th. StockNews.com upgraded Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 29th. BMO Capital Markets reissued a “market perform” rating and issued a $48.00 price target on shares of Bristol-Myers Squibb in a report on Monday, September 23rd. Finally, Jefferies Financial Group lifted their target price on shares of Bristol-Myers Squibb from $49.00 to $51.00 and gave the company a “hold” rating in a research report on Wednesday, August 28th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Bristol-Myers Squibb currently has an average rating of “Hold” and a consensus target price of $53.00.

Read Our Latest Stock Analysis on BMY

Bristol-Myers Squibb Trading Down 0.4 %

Shares of Bristol-Myers Squibb stock traded down $0.20 during mid-day trading on Friday, hitting $52.20. The stock had a trading volume of 6,041,711 shares, compared to its average volume of 14,922,521. The firm has a 50-day moving average of $49.75 and a two-hundred day moving average of $46.43. The firm has a market cap of $105.81 billion, a P/E ratio of -16.84, a price-to-earnings-growth ratio of 13.75 and a beta of 0.46. The company has a quick ratio of 1.02, a current ratio of 1.16 and a debt-to-equity ratio of 2.86. Bristol-Myers Squibb has a 12-month low of $39.35 and a 12-month high of $57.65.

Bristol-Myers Squibb (NYSE:BMY – Get Free Report) last posted its earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 EPS for the quarter, beating analysts’ consensus estimates of $1.64 by $0.43. The company 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 company’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.75 earnings per share. Sell-side analysts forecast that Bristol-Myers Squibb will post 0.77 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 4th will be given a dividend of $0.60 per share. The ex-dividend date is Friday, October 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.60%. Bristol-Myers Squibb’s payout ratio is currently -77.42%.

Bristol-Myers Squibb Profile

(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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