Verus Capital Partners LLC Sells 1,147 Shares of Bristol-Myers Squibb (NYSE:BMY)

Verus Capital Partners LLC cut its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 15.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,445 shares of the biopharmaceutical company’s stock after selling 1,147 shares during the quarter. Verus Capital Partners LLC’s holdings in Bristol-Myers Squibb were worth $268,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Northwest Financial Advisors bought a new position in shares of Bristol-Myers Squibb during the 4th quarter valued at about $27,000. ESL Trust Services LLC bought a new position in Bristol-Myers Squibb during the 1st quarter worth approximately $27,000. Pacific Capital Wealth Advisors Inc. bought a new position in Bristol-Myers Squibb during the 4th quarter worth approximately $34,000. MFA Wealth Advisors LLC bought a new position in Bristol-Myers Squibb during the 2nd quarter worth approximately $39,000. Finally, Fairman Group LLC bought a new position in Bristol-Myers Squibb during the 4th quarter worth approximately $42,000. 76.41% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on BMY. Jefferies Financial Group raised their price target on Bristol-Myers Squibb from $49.00 to $51.00 and gave the stock a “hold” rating in a research report on Wednesday, August 28th. TD Cowen raised their price target on Bristol-Myers Squibb from $45.00 to $53.00 and gave the stock a “hold” rating in a research report on Monday, August 12th. Deutsche Bank Aktiengesellschaft dropped their price objective 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. Cantor Fitzgerald reiterated a “neutral” rating and issued a $45.00 price objective on shares of Bristol-Myers Squibb in a report on Monday, July 22nd. Finally, Barclays increased their price objective on Bristol-Myers Squibb from $41.00 to $42.00 and gave the stock an “underweight” rating in a report on Thursday, August 22nd. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $54.67.

Bristol-Myers Squibb Trading Up 1.2 %

BMY opened at $50.54 on Wednesday. The stock has a market cap of $102.45 billion, a PE ratio of -16.30, a PEG ratio of 12.92 and a beta of 0.44. 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 business has a 50 day moving average of $45.49 and a 200-day moving average of $46.56. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $62.00.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.64 by $0.43. The business had revenue of $12.20 billion during the quarter, compared to analysts’ expectations 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 firm’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.75 earnings per share. Equities research analysts predict that Bristol-Myers Squibb will post 0.77 earnings per share for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Friday, July 5th were paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 4.75%. The ex-dividend date of this dividend was Friday, July 5th. Bristol-Myers Squibb’s payout ratio is -77.42%.

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.