Courier Capital LLC Lowers Stock Holdings in Bristol-Myers Squibb (NYSE:BMY)

Courier Capital LLC lessened its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 2.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 43,046 shares of the biopharmaceutical company’s stock after selling 974 shares during the quarter. Courier Capital LLC’s holdings in Bristol-Myers Squibb were worth $2,227,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Sunbelt Securities Inc. grew its stake in shares of Bristol-Myers Squibb by 19.1% in the first quarter. Sunbelt Securities Inc. now owns 10,080 shares of the biopharmaceutical company’s stock worth $547,000 after acquiring an additional 1,614 shares in the last quarter. Brookstone Capital Management increased its holdings in Bristol-Myers Squibb by 36.4% during the 1st quarter. Brookstone Capital Management now owns 150,037 shares of the biopharmaceutical company’s stock worth $8,137,000 after purchasing an additional 40,018 shares during the period. Future Financial Wealth Managment LLC acquired a new stake in Bristol-Myers Squibb in the 1st quarter valued at about $83,000. Aspiriant LLC boosted its stake in shares of Bristol-Myers Squibb by 8.3% in the 1st quarter. Aspiriant LLC now owns 9,118 shares of the biopharmaceutical company’s stock valued at $495,000 after buying an additional 702 shares during the period. Finally, Signet Financial Management LLC purchased a new stake in shares of Bristol-Myers Squibb during the first quarter worth approximately $1,070,000. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Stock Performance

NYSE BMY opened at $53.06 on Thursday. The business’s 50-day moving average price is $50.63 and its 200 day moving average price is $46.39. 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 firm has a market cap of $107.56 billion, a P/E ratio of -17.12, a P/E/G ratio of 13.75 and a beta of 0.46. Bristol-Myers Squibb has a 52-week low of $39.35 and a 52-week high of $56.77.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 EPS for the quarter, topping 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 business had revenue of $12.20 billion during the quarter, compared to analysts’ expectations of $11.54 billion. During the same quarter in the prior year, the business earned $1.75 earnings per share. The company’s quarterly revenue was up 8.7% compared to the same quarter last year. On average, equities research analysts expect that Bristol-Myers Squibb will post 0.77 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders 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 dividend on an annualized basis and a dividend yield of 4.52%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is -77.42%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on BMY. Barclays lifted their price target on shares of Bristol-Myers Squibb from $42.00 to $43.00 and gave the stock an “underweight” rating in a research note on Monday, October 7th. Deutsche Bank Aktiengesellschaft dropped their target price on Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating on the stock in a report on Tuesday, July 23rd. Sanford C. Bernstein began coverage on Bristol-Myers Squibb in a report on Thursday, October 17th. They set a “market perform” rating and a $56.00 price target for the company. Cantor Fitzgerald reiterated a “neutral” rating and issued a $50.00 price objective on shares of Bristol-Myers Squibb in a report on Friday, October 18th. Finally, TD Cowen boosted their target price 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. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Bristol-Myers Squibb presently has an average rating of “Hold” and an average target price of $53.20.

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.