Baxter Bros Inc. Decreases Position in Bristol-Myers Squibb (NYSE:BMY)

Baxter Bros Inc. decreased its stake in Bristol-Myers Squibb (NYSE:BMY) by 13.9% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 13,950 shares of the biopharmaceutical company’s stock after selling 2,254 shares during the quarter. Baxter Bros Inc.’s holdings in Bristol-Myers Squibb were worth $722,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of BMY. Norden Group LLC boosted its position in shares of Bristol-Myers Squibb by 30.2% in the first quarter. Norden Group LLC now owns 13,846 shares of the biopharmaceutical company’s stock worth $751,000 after buying an additional 3,213 shares during the period. Tokio Marine Asset Management Co. Ltd. boosted its holdings in Bristol-Myers Squibb by 5.0% in the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 47,197 shares of the biopharmaceutical company’s stock valued at $2,559,000 after purchasing an additional 2,232 shares during the last quarter. BNP Paribas purchased a new position in Bristol-Myers Squibb in the first quarter valued at about $1,481,000. Fidelis Capital Partners LLC boosted its holdings in Bristol-Myers Squibb by 18.8% in the first quarter. Fidelis Capital Partners LLC now owns 8,102 shares of the biopharmaceutical company’s stock valued at $483,000 after purchasing an additional 1,280 shares during the last quarter. Finally, Lincoln National Corp boosted its holdings in Bristol-Myers Squibb by 7.7% in the first quarter. Lincoln National Corp now owns 42,894 shares of the biopharmaceutical company’s stock valued at $2,326,000 after purchasing an additional 3,052 shares during the last quarter. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Price Performance

Shares of NYSE BMY opened at $54.32 on Friday. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.16 and a quick ratio of 1.02. The firm has a market capitalization of $110.13 billion, a PE ratio of -16.66, a P/E/G ratio of 14.62 and a beta of 0.46. Bristol-Myers Squibb has a 1-year low of $39.35 and a 1-year high of $56.20. The business’s fifty day moving average price is $51.26 and its two-hundred day moving average price is $46.57.

Bristol-Myers Squibb (NYSE:BMY) last posted its earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.49 by $0.31. The company had revenue of $11.89 billion for the quarter, compared to analysts’ expectations of $11.26 billion. Bristol-Myers Squibb had a positive return on equity of 12.51% and a negative net margin of 14.06%. The firm’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same period last year, the business posted $2.00 earnings per share. On average, research analysts expect that Bristol-Myers Squibb will post 0.72 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 4th were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 4.42%. The ex-dividend date was Friday, October 4th. Bristol-Myers Squibb’s payout ratio is -73.62%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Citigroup downgraded Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and reduced their price target for the company from $75.00 to $55.00 in a report on Friday, October 25th. Deutsche Bank Aktiengesellschaft reduced their price target on Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating for the company in a report on Tuesday, July 23rd. BMO Capital Markets increased their price target on Bristol-Myers Squibb from $53.00 to $57.00 and gave the company a “market perform” rating in a report on Friday. UBS Group increased their price target on Bristol-Myers Squibb from $50.00 to $54.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Finally, Sanford C. Bernstein assumed 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 on the stock. One equities research 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 stock. According to data from MarketBeat, the stock 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.