Naviter Wealth LLC Sells 1,598 Shares of Bristol-Myers Squibb (NYSE:BMY)

Naviter Wealth LLC trimmed its stake in Bristol-Myers Squibb (NYSE:BMY) by 6.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 22,121 shares of the biopharmaceutical company’s stock after selling 1,598 shares during the quarter. Naviter Wealth LLC’s holdings in Bristol-Myers Squibb were worth $919,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of BMY. Traynor Capital Management Inc. boosted its position in shares of Bristol-Myers Squibb by 2.8% in the 1st quarter. Traynor Capital Management Inc. now owns 7,672 shares of the biopharmaceutical company’s stock worth $416,000 after purchasing an additional 207 shares in the last quarter. Newbridge Financial Services Group Inc. boosted its holdings in Bristol-Myers Squibb by 12.8% in the first quarter. Newbridge Financial Services Group Inc. now owns 1,910 shares of the biopharmaceutical company’s stock worth $104,000 after acquiring an additional 216 shares in the last quarter. Bfsg LLC grew its stake in shares of Bristol-Myers Squibb by 24.4% during the first quarter. Bfsg LLC now owns 1,120 shares of the biopharmaceutical company’s stock worth $61,000 after acquiring an additional 220 shares during the last quarter. Paragon Capital Management LLC raised its position in shares of Bristol-Myers Squibb by 1.1% in the 1st quarter. Paragon Capital Management LLC now owns 20,500 shares of the biopharmaceutical company’s stock valued at $1,112,000 after purchasing an additional 222 shares during the last quarter. Finally, OmniStar Financial Group Inc. boosted its stake 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 worth $553,000 after purchasing an additional 224 shares in the last quarter. 76.41% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft dropped their price target on Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating on the stock in a research note on Tuesday, July 23rd. TD Cowen raised their price target on shares of Bristol-Myers Squibb from $45.00 to $53.00 and gave the stock a “hold” rating in a research report on Monday, August 12th. Barclays upped their price objective on shares of Bristol-Myers Squibb from $41.00 to $42.00 and gave the company an “underweight” rating in a report on Thursday, August 22nd. StockNews.com upgraded shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 29th. Finally, Cantor Fitzgerald restated a “neutral” rating and set a $45.00 target price on shares of Bristol-Myers Squibb in a research report on Monday, July 22nd. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $54.67.

Bristol-Myers Squibb Stock Performance

NYSE:BMY opened at $50.54 on Wednesday. The company has a market cap of $102.45 billion, a P/E ratio of -16.30, a P/E/G ratio of 12.92 and a beta of 0.44. Bristol-Myers Squibb has a twelve month low of $39.35 and a twelve month high of $62.00. The company’s 50-day moving average price is $45.49 and its 200-day moving average price is $46.56. The company has a current ratio of 1.16, a quick ratio of 1.02 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 earnings per share (EPS) for the quarter, beating 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 business had revenue of $12.20 billion during the quarter, compared to analyst estimates of $11.54 billion. During the same period in the prior year, the business earned $1.75 earnings per share. The business’s revenue was up 8.7% compared to the same quarter last year. On average, sell-side analysts forecast that Bristol-Myers Squibb will post 0.77 earnings per share for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Friday, July 5th were issued a dividend of $0.60 per share. The ex-dividend date of this dividend was Friday, July 5th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.75%. Bristol-Myers Squibb’s dividend payout ratio is currently -77.42%.

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.