Lazari Capital Management Inc. Decreases Stake in Bristol-Myers Squibb (NYSE:BMY)

Lazari Capital Management Inc. reduced its position in Bristol-Myers Squibb (NYSE:BMY) by 6.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 23,163 shares of the biopharmaceutical company’s stock after selling 1,535 shares during the period. Lazari Capital Management Inc.’s holdings in Bristol-Myers Squibb were worth $962,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BMY. ESL Trust Services LLC purchased a new position in Bristol-Myers Squibb in the 1st quarter valued at about $27,000. LGT Financial Advisors LLC lifted its position 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 purchasing an additional 227 shares during the last quarter. MFA Wealth Advisors LLC bought a new position in shares of Bristol-Myers Squibb during the second quarter worth about $39,000. Fairman Group LLC bought a new position in shares of Bristol-Myers Squibb during the fourth quarter worth about $42,000. Finally, Beach Investment Counsel Inc. PA bought a new position in shares of Bristol-Myers Squibb during the second quarter worth about $42,000. 76.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

BMY has been the topic of several research reports. Deutsche Bank Aktiengesellschaft dropped 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 research note on Tuesday, July 23rd. Barclays increased their price objective on shares of Bristol-Myers Squibb from $41.00 to $42.00 and gave the stock an “underweight” rating in a research note on Thursday, August 22nd. BMO Capital Markets reiterated a “market perform” rating and set a $48.00 price objective on shares of Bristol-Myers Squibb in a research note on Monday, September 23rd. Jefferies Financial Group increased their price objective on shares of Bristol-Myers Squibb from $49.00 to $51.00 and gave the stock a “hold” rating in a research note on Wednesday, August 28th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $50.00 price objective on shares of Bristol-Myers Squibb in a research note on Monday, September 16th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $55.00.

Bristol-Myers Squibb Stock Up 2.3 %

BMY stock opened at $52.91 on Wednesday. Bristol-Myers Squibb has a 12-month low of $39.35 and a 12-month high of $58.06. 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 company has a market cap of $107.25 billion, a price-to-earnings ratio of -17.07, a PEG ratio of 12.96 and a beta of 0.46. The company has a 50 day moving average of $48.91 and a two-hundred day moving average of $46.28.

Bristol-Myers Squibb (NYSE:BMY) last released its earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $11.54 billion. During the same quarter in the prior year, the firm earned $1.75 EPS. The company’s revenue was up 8.7% compared to the same quarter last year. On average, equities analysts anticipate that Bristol-Myers Squibb will post 0.77 earnings per share for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 4th will be given a $0.60 dividend. The ex-dividend date is Friday, October 4th. This represents a $2.40 dividend on an annualized basis and a yield of 4.54%. Bristol-Myers Squibb’s payout ratio is -77.42%.

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.