Ironwood Wealth Management LLC. Lowers Stock Position in Bristol-Myers Squibb (NYSE:BMY)

Ironwood Wealth Management LLC. decreased its holdings in Bristol-Myers Squibb (NYSE:BMY) by 31.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 9,621 shares of the biopharmaceutical company’s stock after selling 4,352 shares during the quarter. Ironwood Wealth Management LLC.’s holdings in Bristol-Myers Squibb were worth $400,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. ESL Trust Services LLC purchased a new position in shares of Bristol-Myers Squibb during the first quarter worth approximately $27,000. Fairman Group LLC acquired a new position in shares of Bristol-Myers Squibb during the 4th quarter worth $42,000. Beach Investment Counsel Inc. PA purchased a new stake in shares of Bristol-Myers Squibb in the 2nd quarter worth about $42,000. Accent Capital Management LLC purchased a new stake in shares of Bristol-Myers Squibb in the 4th quarter worth about $46,000. Finally, Redmont Wealth Advisors LLC purchased a new stake in shares of Bristol-Myers Squibb in the 1st quarter worth about $47,000. Institutional investors and hedge funds own 76.41% of the company’s stock.

Bristol-Myers Squibb Price Performance

NYSE:BMY opened at $52.48 on Wednesday. The business’s 50-day moving average price is $49.43 and its 200 day moving average price is $46.34. The firm has a market cap of $106.38 billion, a P/E ratio of -16.93, a PEG ratio of 12.96 and a beta of 0.46. Bristol-Myers Squibb has a 52-week low of $39.35 and a 52-week high of $57.65. 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 announced its quarterly earnings data on Friday, July 26th. The biopharmaceutical company reported $2.07 EPS for the quarter, topping analysts’ consensus estimates of $1.64 by $0.43. The firm 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%. The business’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same period last year, the company posted $1.75 EPS. As a group, sell-side analysts predict 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. 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 annualized dividend and a yield of 4.57%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently -77.42%.

Analysts Set New Price Targets

A number of research analysts have issued reports on BMY shares. Cantor Fitzgerald restated a “neutral” rating and issued a $50.00 target price on shares of Bristol-Myers Squibb in a report on Monday, September 16th. TD Cowen increased their price objective on shares of Bristol-Myers Squibb from $53.00 to $59.00 and gave the stock a “hold” rating in a report on Monday. Deutsche Bank Aktiengesellschaft dropped their target price on shares of 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 raised shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 29th. Finally, Barclays increased their price objective on shares of Bristol-Myers Squibb from $42.00 to $43.00 and gave the company an “underweight” rating in a research report on Monday. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $53.43.

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.