UMB Bank n.a. Cuts Position in Bristol-Myers Squibb (NYSE:BMY)

UMB Bank n.a. lowered its stake in Bristol-Myers Squibb (NYSE:BMY) by 19.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 83,843 shares of the biopharmaceutical company’s stock after selling 19,667 shares during the quarter. UMB Bank n.a.’s holdings in Bristol-Myers Squibb were worth $3,482,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. AM Investment Strategies LLC lifted its holdings in Bristol-Myers Squibb by 17.7% during the 2nd quarter. AM Investment Strategies LLC now owns 78,092 shares of the biopharmaceutical company’s stock worth $3,243,000 after buying an additional 11,743 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Bristol-Myers Squibb by 58.9% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,430,817 shares of the biopharmaceutical company’s stock valued at $59,422,000 after purchasing an additional 530,113 shares during the period. Banco Santander S.A. grew its holdings in shares of Bristol-Myers Squibb by 8.7% during the second quarter. Banco Santander S.A. now owns 453,598 shares of the biopharmaceutical company’s stock valued at $18,838,000 after buying an additional 36,151 shares in the last quarter. Arkadios Wealth Advisors boosted its position in Bristol-Myers Squibb by 26.9% during the second quarter. Arkadios Wealth Advisors now owns 47,731 shares of the biopharmaceutical company’s stock valued at $1,982,000 after purchasing an additional 10,110 shares during the last quarter. Finally, Private Client Services LLC boosted its position in Bristol-Myers Squibb by 31.9% during the second quarter. Private Client Services LLC now owns 7,404 shares of the biopharmaceutical company’s stock valued at $307,000 after purchasing an additional 1,791 shares during the last quarter. Institutional investors and hedge funds own 76.41% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on BMY shares. Barclays boosted their price target on Bristol-Myers Squibb from $41.00 to $42.00 and gave the stock an “underweight” rating in a research report on Thursday, August 22nd. Jefferies Financial Group boosted their price target on Bristol-Myers Squibb from $49.00 to $51.00 and gave the stock a “hold” rating in a research report on Wednesday. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $45.00 price target on shares of Bristol-Myers Squibb in a research report on Monday, July 22nd. TD Cowen boosted their price target on Bristol-Myers Squibb from $45.00 to $53.00 and gave the stock a “hold” rating in a research report on Monday, August 12th. Finally, StockNews.com upgraded Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 29th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $54.67.

Bristol-Myers Squibb Price Performance

Shares of BMY stock traded up $0.23 during trading hours on Friday, hitting $49.95. The company had a trading volume of 9,434,419 shares, compared to its average volume of 15,441,344. Bristol-Myers Squibb has a 12 month low of $39.35 and a 12 month high of $63.03. The firm has a market capitalization of $101.25 billion, a price-to-earnings ratio of -16.11, a PEG ratio of 12.51 and a beta of 0.44. The firm’s fifty day moving average is $45.01 and its 200 day moving average is $46.59. The company has a debt-to-equity ratio of 2.86, a quick ratio of 0.99 and a current ratio of 1.16.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings data on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $12.20 billion for the quarter, compared to analyst estimates of $11.54 billion. During the same period in the prior year, the company posted $1.75 EPS. The company’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 fiscal year.

Bristol-Myers Squibb Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Friday, July 5th were paid a $0.60 dividend. The ex-dividend date of this dividend was Friday, July 5th. This represents a $2.40 annualized dividend and a dividend yield of 4.80%. Bristol-Myers Squibb’s dividend payout ratio is currently -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.