Penn Davis Mcfarland Inc. Trims Holdings in Bristol-Myers Squibb (NYSE:BMY)

Penn Davis Mcfarland Inc. reduced its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 0.3% during the 3rd quarter, HoldingsChannel reports. The firm owned 357,822 shares of the biopharmaceutical company’s stock after selling 964 shares during the period. Bristol-Myers Squibb accounts for approximately 2.1% of Penn Davis Mcfarland Inc.’s investment portfolio, making the stock its 20th biggest holding. Penn Davis Mcfarland Inc.’s holdings in Bristol-Myers Squibb were worth $18,514,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. ESL Trust Services LLC purchased a new position in shares of Bristol-Myers Squibb during the first quarter worth about $27,000. LGT Financial Advisors LLC raised its stake in Bristol-Myers Squibb by 42.7% during the 2nd quarter. LGT Financial Advisors LLC now owns 759 shares of the biopharmaceutical company’s stock valued at $32,000 after acquiring an additional 227 shares during the last quarter. ORG Wealth Partners LLC purchased a new stake in Bristol-Myers Squibb during the 3rd quarter valued at approximately $34,000. MFA Wealth Advisors LLC purchased a new stake in Bristol-Myers Squibb during the 2nd quarter valued at approximately $39,000. Finally, Beach Investment Counsel Inc. PA purchased a new stake in Bristol-Myers Squibb during the 2nd quarter valued at approximately $42,000. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Sanford C. Bernstein assumed coverage on Bristol-Myers Squibb in a research note on Thursday. They set a “market perform” rating and a $56.00 price objective for the company. StockNews.com raised Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 29th. Jefferies Financial Group increased their target price on Bristol-Myers Squibb from $49.00 to $51.00 and gave the stock a “hold” rating in a research note on Wednesday, August 28th. TD Cowen increased their target price on Bristol-Myers Squibb from $53.00 to $59.00 and gave the stock a “hold” rating in a research note on Monday, October 7th. Finally, BMO Capital Markets reissued a “market perform” rating and set a $48.00 target price on shares of Bristol-Myers Squibb in a research note on Monday, September 23rd. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Bristol-Myers Squibb presently has an average rating of “Hold” and an average target price of $53.20.

Bristol-Myers Squibb Price Performance

Bristol-Myers Squibb stock opened at $53.22 on Monday. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $57.09. 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 firm’s 50-day simple moving average is $50.36 and its 200 day simple moving average is $46.33. The firm has a market capitalization of $107.88 billion, a PE ratio of -17.17, a P/E/G ratio of 13.75 and a beta of 0.46.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings data on Friday, July 26th. The biopharmaceutical company reported $2.07 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 business had revenue of $12.20 billion for the quarter, compared to analyst estimates of $11.54 billion. During the same period in the previous year, the firm earned $1.75 EPS. The business’s revenue for the quarter was up 8.7% compared to the same quarter last year. On average, equities research analysts predict that Bristol-Myers Squibb will post 0.77 EPS for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 4th will be given a $0.60 dividend. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.40 annualized dividend and a dividend yield of 4.51%. Bristol-Myers Squibb’s dividend payout ratio 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.