Intech Investment Management LLC Sells 220,228 Shares of Bristol-Myers Squibb (NYSE:BMY)

Intech Investment Management LLC trimmed its stake in Bristol-Myers Squibb (NYSE:BMY) by 31.3% in the second quarter, HoldingsChannel.com reports. The firm owned 484,379 shares of the biopharmaceutical company’s stock after selling 220,228 shares during the period. Intech Investment Management LLC’s holdings in Bristol-Myers Squibb were worth $20,116,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Cowa LLC increased its holdings in Bristol-Myers Squibb by 5.9% in the second quarter. Cowa LLC now owns 9,905 shares of the biopharmaceutical company’s stock valued at $411,000 after purchasing an additional 550 shares during the period. MQS Management LLC acquired a new stake in Bristol-Myers Squibb in the second quarter valued at $408,000. XTX Topco Ltd increased its holdings in Bristol-Myers Squibb by 400.3% in the second quarter. XTX Topco Ltd now owns 91,465 shares of the biopharmaceutical company’s stock valued at $3,799,000 after purchasing an additional 73,183 shares during the period. Miramar Capital LLC grew its holdings in Bristol-Myers Squibb by 41.4% during the 2nd quarter. Miramar Capital LLC now owns 8,876 shares of the biopharmaceutical company’s stock worth $369,000 after acquiring an additional 2,600 shares during the period. Finally, Altrius Capital Management Inc grew its holdings in Bristol-Myers Squibb by 26.1% during the 2nd quarter. Altrius Capital Management Inc now owns 97,042 shares of the biopharmaceutical company’s stock worth $4,030,000 after acquiring an additional 20,100 shares during the period. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BMY has been the subject of a number of recent analyst reports. StockNews.com upgraded Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Monday, July 29th. Cantor Fitzgerald restated a “neutral” rating and issued a $50.00 target price on shares of Bristol-Myers Squibb in a research note on Monday. Barclays raised their target price on Bristol-Myers Squibb from $41.00 to $42.00 and gave the company an “underweight” rating in a research note on Thursday, August 22nd. Jefferies Financial Group raised their target price on Bristol-Myers Squibb from $49.00 to $51.00 and gave the company a “hold” rating in a research note on Wednesday, August 28th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating for the company in a research note on Tuesday, July 23rd. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $55.00.

Bristol-Myers Squibb Price Performance

Bristol-Myers Squibb stock opened at $49.02 on Friday. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $59.46. The company’s 50 day moving average price is $47.50 and its two-hundred day moving average price is $46.50. 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 stock has a market cap of $99.36 billion, a P/E ratio of -15.81, a P/E/G ratio of 12.59 and a beta of 0.46.

Bristol-Myers Squibb (NYSE:BMY) last posted its 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. The firm had revenue of $12.20 billion for the quarter, compared to analysts’ expectations of $11.54 billion. Bristol-Myers Squibb had a negative net margin of 14.06% and a positive return on equity of 12.51%. The company’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter last year, the firm earned $1.75 EPS. On average, equities analysts predict that Bristol-Myers Squibb will post 0.77 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 4th will be issued a $0.60 dividend. The ex-dividend date is Friday, October 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.90%. Bristol-Myers Squibb’s dividend payout ratio (DPR) 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.