Profund Advisors LLC Reduces Holdings in Bristol-Myers Squibb (NYSE:BMY)

Profund Advisors LLC decreased its position in Bristol-Myers Squibb (NYSE:BMY) by 1.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 41,794 shares of the biopharmaceutical company’s stock after selling 648 shares during the period. Profund Advisors LLC’s holdings in Bristol-Myers Squibb were worth $1,736,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

BMY has been the topic of several recent analyst reports. TD Cowen upped their price objective on shares of Bristol-Myers Squibb from $45.00 to $53.00 and gave the stock a “hold” rating in a report on Monday, August 12th. Barclays increased their target price on shares of Bristol-Myers Squibb from $41.00 to $42.00 and gave the stock an “underweight” rating in a report on Thursday, August 22nd. Cantor Fitzgerald reiterated a “neutral” rating and set a $50.00 target price on shares of Bristol-Myers Squibb in a report on Monday, September 16th. Jefferies Financial Group increased their target price on shares of Bristol-Myers Squibb from $49.00 to $51.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating on the stock in a report on Tuesday, July 23rd. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $55.00.

Bristol-Myers Squibb Trading Up 0.8 %

Shares of Bristol-Myers Squibb stock opened at $49.41 on Monday. Bristol-Myers Squibb has a 1 year low of $39.35 and a 1 year high of $59.46. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.02 and a current ratio of 1.16. The company has a market capitalization of $100.16 billion, a P/E ratio of -15.94, a PEG ratio of 12.59 and a beta of 0.46. The company’s fifty day moving average is $47.68 and its two-hundred day moving average is $46.40.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings data on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.64 by $0.43. Bristol-Myers Squibb had a negative net margin of 14.06% and a positive return on equity of 12.51%. The company had revenue of $12.20 billion for the quarter, compared to the consensus estimate of $11.54 billion. During the same period last year, the firm posted $1.75 EPS. Bristol-Myers Squibb’s revenue for the quarter was up 8.7% on a year-over-year basis. Analysts forecast that Bristol-Myers Squibb will post 0.77 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 4th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 4.86%. The ex-dividend date is Friday, October 4th. 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.