Bristol-Myers Squibb (NYSE:BMY) Holdings Lowered by Meiji Yasuda Asset Management Co Ltd.

Meiji Yasuda Asset Management Co Ltd. trimmed its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 2.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 34,964 shares of the biopharmaceutical company’s stock after selling 929 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Bristol-Myers Squibb were worth $1,452,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of BMY. Gryphon Financial Partners LLC lifted its holdings in shares of Bristol-Myers Squibb by 23.5% during the fourth quarter. Gryphon Financial Partners LLC now owns 5,235 shares of the biopharmaceutical company’s stock valued at $280,000 after purchasing an additional 995 shares during the last quarter. Clearbridge Investments LLC raised its position in Bristol-Myers Squibb by 12.0% during the fourth quarter. Clearbridge Investments LLC now owns 125,980 shares of the biopharmaceutical company’s stock valued at $6,464,000 after buying an additional 13,534 shares during the period. Assetmark Inc. raised its position in Bristol-Myers Squibb by 10.9% during the fourth quarter. Assetmark Inc. now owns 155,684 shares of the biopharmaceutical company’s stock valued at $7,988,000 after buying an additional 15,329 shares during the period. InterOcean Capital Group LLC raised its position in Bristol-Myers Squibb by 2.1% during the fourth quarter. InterOcean Capital Group LLC now owns 17,096 shares of the biopharmaceutical company’s stock valued at $877,000 after buying an additional 353 shares during the period. Finally, Financial Advisors Network Inc. raised its position in Bristol-Myers Squibb by 5.9% during the fourth quarter. Financial Advisors Network Inc. now owns 4,554 shares of the biopharmaceutical company’s stock valued at $234,000 after buying an additional 254 shares during the period. 76.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on BMY. Barclays upped their price target on Bristol-Myers Squibb from $41.00 to $42.00 and gave the company an “underweight” rating in a research report on Thursday, August 22nd. TD Cowen upped their price target on Bristol-Myers Squibb from $45.00 to $53.00 and gave the company a “hold” rating in a research report on Monday, August 12th. StockNews.com raised Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 29th. Jefferies Financial Group upped their target price 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. Finally, 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 research report on Tuesday, July 23rd. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $55.00.

Bristol-Myers Squibb Price Performance

Shares of NYSE:BMY opened at $49.02 on Friday. Bristol-Myers Squibb has a 1-year low of $39.35 and a 1-year high of $59.46. The firm has a market capitalization of $99.36 billion, a PE ratio of -15.81, a PEG ratio of 12.59 and a beta of 0.46. The business’s 50 day moving average is $47.50 and its 200-day moving average is $46.50. The company has a current ratio of 1.16, a quick ratio of 1.02 and a debt-to-equity ratio of 2.86.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share 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 company had revenue of $12.20 billion for the quarter, compared to analyst estimates of $11.54 billion. During the same quarter last year, the firm earned $1.75 EPS. Bristol-Myers Squibb’s revenue for the quarter was up 8.7% compared to the same quarter last year. Sell-side analysts predict that Bristol-Myers Squibb will post 0.77 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 4th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 4.90%. The ex-dividend date is Friday, October 4th. Bristol-Myers Squibb’s payout ratio is presently -77.42%.

Bristol-Myers Squibb 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.