Brown Brothers Harriman & Co. Sells 2,011 Shares of Bristol-Myers Squibb (NYSE:BMY)

Brown Brothers Harriman & Co. trimmed its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 2.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 93,540 shares of the biopharmaceutical company’s stock after selling 2,011 shares during the period. Brown Brothers Harriman & Co.’s holdings in Bristol-Myers Squibb were worth $3,885,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of BMY. ESL Trust Services LLC bought a new stake in Bristol-Myers Squibb during the first quarter valued at 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 purchasing an additional 227 shares during the period. MFA Wealth Advisors LLC purchased a new position in Bristol-Myers Squibb in the 2nd quarter worth approximately $39,000. Fairman Group LLC bought a new position in Bristol-Myers Squibb in the 4th quarter worth approximately $42,000. Finally, Beach Investment Counsel Inc. PA purchased a new stake in Bristol-Myers Squibb during the 2nd quarter valued at approximately $42,000. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Stock Performance

BMY stock opened at $50.00 on Tuesday. Bristol-Myers Squibb has a twelve month low of $39.35 and a twelve month high of $59.46. The firm has a market cap of $101.36 billion, a price-to-earnings ratio of -16.13, a PEG ratio of 12.59 and a beta of 0.46. The business’s fifty day simple moving average is $46.99 and its two-hundred day simple moving average is $46.47. 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 posted its quarterly earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 EPS for the quarter, topping the consensus estimate of $1.64 by $0.43. The company had revenue of $12.20 billion for the quarter, compared to the consensus estimate of $11.54 billion. Bristol-Myers Squibb had a negative net margin of 14.06% and a positive return on equity of 12.51%. The firm’s revenue was up 8.7% compared to the same quarter last year. During the same quarter last year, the firm posted $1.75 EPS. Analysts predict that Bristol-Myers Squibb will post 0.77 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

The company also recently disclosed 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 of this dividend is Friday, October 4th. This represents a $2.40 annualized dividend and a dividend yield of 4.80%. Bristol-Myers Squibb’s payout ratio is currently -77.42%.

Analysts Set New Price Targets

BMY has been the topic of several research analyst reports. Barclays boosted their target price on shares of Bristol-Myers Squibb from $41.00 to $42.00 and gave the stock an “underweight” rating in a report on Thursday, August 22nd. Jefferies Financial Group boosted 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 note on Wednesday, August 28th. Cantor Fitzgerald restated a “neutral” rating and set a $50.00 price objective on shares of Bristol-Myers Squibb in a research report on Monday. StockNews.com upgraded Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 29th. Finally, TD Cowen raised their price target on Bristol-Myers Squibb from $45.00 to $53.00 and gave the company a “hold” rating in a report on Monday, August 12th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned 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 has a consensus rating of “Hold” and an average target price of $55.00.

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.