BTR Capital Management Inc. Trims Stake in Bristol-Myers Squibb (NYSE:BMY)

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BTR Capital Management Inc. lessened its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 6.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,265 shares of the biopharmaceutical company’s stock after selling 300 shares during the quarter. BTR Capital Management Inc.’s holdings in Bristol-Myers Squibb were worth $257,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of Bristol-Myers Squibb by 2.5% during the 2nd quarter. Vanguard Group Inc. now owns 203,888,386 shares of the biopharmaceutical company’s stock worth $11,988,638,000 after purchasing an additional 4,984,471 shares during the period. Nordea Investment Management AB increased its holdings in shares of Bristol-Myers Squibb by 97.0% during the 2nd quarter. Nordea Investment Management AB now owns 19,622,338 shares of the biopharmaceutical company’s stock worth $1,131,816,000 after buying an additional 9,660,989 shares during the last quarter. Capital World Investors increased its holdings in shares of Bristol-Myers Squibb by 4.7% during the 1st quarter. Capital World Investors now owns 13,307,482 shares of the biopharmaceutical company’s stock worth $741,759,000 after buying an additional 601,947 shares during the last quarter. Independent Franchise Partners LLP increased its holdings in shares of Bristol-Myers Squibb by 21.9% during the 2nd quarter. Independent Franchise Partners LLP now owns 10,851,078 shares of the biopharmaceutical company’s stock worth $638,043,000 after buying an additional 1,948,073 shares during the last quarter. Finally, Prudential Financial Inc. increased its holdings in shares of Bristol-Myers Squibb by 0.6% during the 2nd quarter. Prudential Financial Inc. now owns 5,428,746 shares of the biopharmaceutical company’s stock worth $319,210,000 after buying an additional 31,859 shares during the last quarter. 72.61% of the stock is currently owned by institutional investors.

NYSE:BMY traded up $0.82 on Friday, reaching $61.24. The stock had a trading volume of 9,385,613 shares, compared to its average volume of 13,948,471. The company has a current ratio of 1.47, a quick ratio of 1.36 and a debt-to-equity ratio of 0.85. The company has a 50-day moving average of $60.00 and a 200 day moving average of $59.86. The stock has a market cap of $138.57 billion, a P/E ratio of -612.34, a price-to-earnings-growth ratio of 1.15 and a beta of 0.71. Bristol-Myers Squibb has a 12-month low of $45.76 and a 12-month high of $68.34.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings data on Thursday, August 6th. The biopharmaceutical company reported $1.63 earnings per share for the quarter, beating analysts’ consensus estimates of $1.48 by $0.15. The company had revenue of $10.13 billion during the quarter, compared to analysts’ expectations of $10.04 billion. Bristol-Myers Squibb had a negative net margin of 1.61% and a positive return on equity of 28.47%. The firm’s revenue for the quarter was up 61.5% on a year-over-year basis. During the same period in the prior year, the company posted $1.18 EPS. On average, equities analysts predict that Bristol-Myers Squibb will post 6.24 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 2nd. Shareholders of record on Friday, October 2nd will be given a $0.45 dividend. The ex-dividend date is Thursday, October 1st. This represents a $1.80 dividend on an annualized basis and a yield of 2.94%. Bristol-Myers Squibb’s payout ratio is currently 38.38%.

In other news, EVP Sandra Leung sold 141,420 shares of the stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $63.24, for a total transaction of $8,943,400.80. Following the transaction, the executive vice president now owns 432,744 shares of the company’s stock, valued at $27,366,730.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Joseph Eid sold 5,327 shares of the stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $64.00, for a total transaction of $340,928.00. Following the transaction, the senior vice president now directly owns 2,534 shares in the company, valued at approximately $162,176. The disclosure for this sale can be found here. Insiders have sold 186,587 shares of company stock worth $11,782,297 in the last ninety days. Corporate insiders own 0.14% of the company’s stock.

BMY has been the subject of a number of research analyst reports. JPMorgan Chase & Co. upped their price objective on Bristol-Myers Squibb from $74.00 to $78.00 and gave the stock an “overweight” rating in a report on Friday. Seaport Global Securities initiated coverage on Bristol-Myers Squibb in a report on Tuesday, July 28th. They set an “outperform” rating and a $75.00 price objective for the company. Cfra restated a “buy” rating and set a $70.00 price objective on shares of Bristol-Myers Squibb in a report on Sunday, July 26th. Morgan Stanley upped their price objective on Bristol-Myers Squibb from $64.00 to $66.00 and gave the stock an “overweight” rating in a report on Wednesday, August 12th. Finally, Berenberg Bank initiated coverage on Bristol-Myers Squibb in a report on Tuesday, September 29th. They issued a “buy” rating and a $73.00 price target for the company. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $71.00.

Bristol-Myers Squibb Profile

Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. It offers products in the following therapeutic classes: hematology, oncology, cardiovascular, and immunology. The company's products include Opdivo, a biological product for anti-cancer indications; Eliquis, an oral inhibitor targeted at stroke prevention in adult patients with non-valvular atrial fibrillation, and the prevention and treatment of venous thromboembolic disorders; and Orencia, a biological product for adult patients with active RA and prostate-specific antigen, as well as reducing signs and symptoms in pediatric patients with active polyarticular juvenile idiopathic arthritis.

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Institutional Ownership by Quarter for Bristol-Myers Squibb (NYSE:BMY)

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