Axa S.A. Sells 1,239,833 Shares of Bristol-Myers Squibb (NYSE:BMY)

Axa S.A. lessened its holdings in Bristol-Myers Squibb (NYSE:BMY) by 49.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,276,604 shares of the biopharmaceutical company’s stock after selling 1,239,833 shares during the period. Axa S.A. owned about 0.06% of Bristol-Myers Squibb worth $53,017,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of BMY. ESL Trust Services LLC acquired a new position in Bristol-Myers Squibb during the 1st quarter worth approximately $27,000. LGT Financial Advisors LLC increased its holdings in shares of Bristol-Myers Squibb by 42.7% during the second quarter. LGT Financial Advisors LLC now owns 759 shares of the biopharmaceutical company’s stock worth $32,000 after buying an additional 227 shares in the last quarter. MFA Wealth Advisors LLC bought a new position in shares of Bristol-Myers Squibb in the 2nd quarter valued at $39,000. Fairman Group LLC acquired a new stake in shares of Bristol-Myers Squibb during the 4th quarter valued at $42,000. Finally, Beach Investment Counsel Inc. PA bought a new stake in Bristol-Myers Squibb during the 2nd quarter worth $42,000. Institutional investors and hedge funds own 76.41% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on BMY. Jefferies Financial Group increased their target price on Bristol-Myers Squibb from $49.00 to $51.00 and gave the company a “hold” rating in a research report on Wednesday, August 28th. BMO Capital Markets reiterated a “market perform” rating and set a $48.00 target price on shares of Bristol-Myers Squibb in a research report on Monday. TD Cowen upped their price target on shares of Bristol-Myers Squibb from $45.00 to $53.00 and gave the company a “hold” rating in a research report on Monday, August 12th. Barclays lifted their price target 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. Finally, Cantor Fitzgerald restated a “neutral” rating and issued a $50.00 price objective on shares of Bristol-Myers Squibb in a report on Monday, September 16th. Two equities research 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’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $55.00.

Bristol-Myers Squibb Stock Performance

NYSE:BMY opened at $49.95 on Thursday. 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 has a twelve month low of $39.35 and a twelve month high of $59.25. The company has a fifty day moving average of $48.07 and a 200-day moving average of $46.36. The firm has a market capitalization of $101.25 billion, a P/E ratio of -16.11, a P/E/G ratio of 12.96 and a beta of 0.46.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share for the quarter, beating the consensus estimate of $1.64 by $0.43. The firm had revenue of $12.20 billion during the quarter, compared to the consensus estimate 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 business’s revenue was up 8.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.75 earnings per share. As a group, sell-side analysts anticipate that Bristol-Myers Squibb will post 0.77 EPS for the current year.

Bristol-Myers Squibb Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders 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 annualized dividend and a yield of 4.80%. Bristol-Myers Squibb’s payout ratio is currently -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.