Bristol-Myers Squibb (NYSE:BMY) Holdings Cut by Garrison Point Advisors LLC

Garrison Point Advisors LLC reduced its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 3.2% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 16,331 shares of the biopharmaceutical company’s stock after selling 535 shares during the period. Garrison Point Advisors LLC’s holdings in Bristol-Myers Squibb were worth $845,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of BMY. Paragon Capital Management LLC boosted its position in shares of Bristol-Myers Squibb by 1.1% in the first quarter. Paragon Capital Management LLC now owns 20,500 shares of the biopharmaceutical company’s stock valued at $1,112,000 after acquiring an additional 222 shares during the period. OmniStar Financial Group Inc. boosted its holdings in Bristol-Myers Squibb by 1.7% in the 2nd quarter. OmniStar Financial Group Inc. now owns 13,316 shares of the biopharmaceutical company’s stock valued at $553,000 after purchasing an additional 224 shares during the period. LGT Financial Advisors LLC grew its position in shares of Bristol-Myers Squibb by 42.7% during the 2nd quarter. LGT Financial Advisors LLC now owns 759 shares of the biopharmaceutical company’s stock worth $32,000 after purchasing an additional 227 shares in the last quarter. Cassia Capital Partners LLC increased its holdings in shares of Bristol-Myers Squibb by 2.9% during the third quarter. Cassia Capital Partners LLC now owns 8,222 shares of the biopharmaceutical company’s stock worth $425,000 after purchasing an additional 235 shares during the period. Finally, Tempus Wealth Planning LLC raised its position in shares of Bristol-Myers Squibb by 1.5% in the third quarter. Tempus Wealth Planning LLC now owns 15,648 shares of the biopharmaceutical company’s stock valued at $810,000 after buying an additional 235 shares in the last quarter. 76.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BMY has been the subject of several analyst reports. StockNews.com raised Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Monday, July 29th. Jefferies Financial Group increased their price target on shares of Bristol-Myers Squibb from $49.00 to $51.00 and gave the stock a “hold” rating in a research report on Wednesday, August 28th. BMO Capital Markets restated a “market perform” rating and set a $48.00 price objective on shares of Bristol-Myers Squibb in a research report on Monday, September 23rd. Cantor Fitzgerald reiterated a “neutral” rating and issued a $50.00 price target on shares of Bristol-Myers Squibb in a research note on Friday, October 18th. Finally, Citigroup lowered Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $75.00 to $55.00 in a research note on Friday. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Bristol-Myers Squibb currently has an average rating of “Hold” and an average target price of $53.31.

Bristol-Myers Squibb Trading Down 0.3 %

BMY opened at $52.92 on Friday. The stock has a market cap of $107.27 billion, a PE ratio of -17.07, a price-to-earnings-growth ratio of 13.75 and a beta of 0.46. 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 $56.77. The company has a fifty day moving average of $50.63 and a 200-day moving average of $46.39.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share for the quarter, topping analysts’ consensus estimates of $1.64 by $0.43. Bristol-Myers Squibb had a positive return on equity of 12.51% and a negative net margin of 14.06%. The firm had revenue of $12.20 billion during the quarter, compared to the consensus estimate of $11.54 billion. During the same period last year, the business posted $1.75 EPS. The business’s revenue was up 8.7% compared to the same quarter last year. On average, sell-side analysts predict that Bristol-Myers Squibb will post 0.77 EPS for the current year.

Bristol-Myers Squibb Announces Dividend

The firm also recently announced 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 of this dividend 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 currently -77.42%.

Bristol-Myers Squibb Company 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.