Public Employees Retirement Association of Colorado Reduces Stock Position in Bristol-Myers Squibb (NYSE:BMY)

Public Employees Retirement Association of Colorado cut its stake in Bristol-Myers Squibb (NYSE:BMY) by 2.6% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 279,883 shares of the biopharmaceutical company’s stock after selling 7,548 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Bristol-Myers Squibb were worth $11,624,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Global Assets Advisory LLC purchased a new position in Bristol-Myers Squibb during the 1st quarter valued at about $5,161,000. Lincoln National Corp grew its stake in Bristol-Myers Squibb by 7.7% during the first quarter. Lincoln National Corp now owns 42,894 shares of the biopharmaceutical company’s stock valued at $2,326,000 after acquiring an additional 3,052 shares in the last quarter. Chapin Davis Inc. lifted its stake in Bristol-Myers Squibb by 22.6% in the 1st quarter. Chapin Davis Inc. now owns 22,544 shares of the biopharmaceutical company’s stock worth $1,223,000 after purchasing an additional 4,159 shares in the last quarter. Sierra Summit Advisors LLC bought a new position in Bristol-Myers Squibb in the 4th quarter valued at $755,000. Finally, Scotia Capital Inc. grew its position in shares of Bristol-Myers Squibb by 48.6% during the 4th quarter. Scotia Capital Inc. now owns 236,724 shares of the biopharmaceutical company’s stock valued at $12,146,000 after purchasing an additional 77,471 shares in the last quarter. 76.41% of the stock is currently owned by institutional investors.

Bristol-Myers Squibb Price Performance

Shares of Bristol-Myers Squibb stock opened at $49.41 on Friday. The company’s fifty day simple moving average is $47.68 and its two-hundred day simple moving average is $46.45. Bristol-Myers Squibb has a 12-month low of $39.35 and a 12-month high of $59.46. The firm has a market cap of $100.16 billion, a PE ratio of -15.94, a price-to-earnings-growth ratio of 12.59 and a beta of 0.46. The company has a quick ratio of 1.02, a current ratio of 1.16 and a debt-to-equity ratio of 2.86.

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, beating analysts’ consensus estimates of $1.64 by $0.43. The business had revenue of $12.20 billion during the quarter, compared to analyst estimates of $11.54 billion. Bristol-Myers Squibb had a positive return on equity of 12.51% and a negative net margin of 14.06%. Bristol-Myers Squibb’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.75 EPS. As a group, equities analysts expect that Bristol-Myers Squibb will post 0.77 EPS for the current year.

Bristol-Myers Squibb Announces Dividend

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 given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 4.86%. The ex-dividend date of this dividend is Friday, October 4th. Bristol-Myers Squibb’s dividend payout ratio is currently -77.42%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. 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 report on Tuesday, July 23rd. StockNews.com upgraded shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 29th. Cantor Fitzgerald restated a “neutral” rating and set a $50.00 price objective on shares of Bristol-Myers Squibb in a research report on Monday, September 16th. Jefferies Financial Group upped their target price on shares of 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, Barclays lifted their price target on Bristol-Myers Squibb from $41.00 to $42.00 and gave the stock an “underweight” rating in a research note on Thursday, August 22nd. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $55.00.

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.