Inscription Capital LLC Cuts Stock Position in Bristol-Myers Squibb (NYSE:BMY)

Inscription Capital LLC decreased its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 4.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,791 shares of the biopharmaceutical company’s stock after selling 554 shares during the quarter. Inscription Capital LLC’s holdings in Bristol-Myers Squibb were worth $610,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the business. Bay Colony Advisory Group Inc d b a Bay Colony Advisors raised its holdings in Bristol-Myers Squibb by 32.2% during the 3rd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 9,389 shares of the biopharmaceutical company’s stock valued at $486,000 after buying an additional 2,288 shares during the period. Salomon & Ludwin LLC increased its position in Bristol-Myers Squibb by 15.6% during the third quarter. Salomon & Ludwin LLC now owns 1,843 shares of the biopharmaceutical company’s stock valued at $95,000 after acquiring an additional 249 shares during the last quarter. Ellis Investment Partners LLC purchased a new stake in shares of Bristol-Myers Squibb in the third quarter valued at $224,000. Kavar Capital Partners Group LLC bought a new stake in shares of Bristol-Myers Squibb in the 3rd quarter worth about $246,000. Finally, Clear Harbor Asset Management LLC boosted its stake in shares of Bristol-Myers Squibb by 69.4% during the 3rd quarter. Clear Harbor Asset Management LLC now owns 25,686 shares of the biopharmaceutical company’s stock worth $1,329,000 after purchasing an additional 10,520 shares during the period. Institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Stock Performance

Shares of BMY stock opened at $52.64 on Tuesday. The company has a current ratio of 1.16, a quick ratio of 1.02 and a debt-to-equity ratio of 2.86. The company has a market cap of $106.71 billion, a PE ratio of -16.98, a PEG ratio of 13.75 and a beta of 0.46. Bristol-Myers Squibb has a 12-month low of $39.35 and a 12-month high of $55.03. The business’s fifty day simple moving average is $50.82 and its 200-day simple moving average is $46.41.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 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 company had revenue of $12.20 billion during the quarter, compared to analysts’ expectations of $11.54 billion. During the same period last year, the business posted $1.75 earnings per share. The firm’s revenue was up 8.7% compared to the same quarter last year. Analysts expect that Bristol-Myers Squibb will post 0.77 earnings per share for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 4th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 4.56%. The ex-dividend date is Friday, October 4th. Bristol-Myers Squibb’s dividend payout ratio is presently -77.42%.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. BMO Capital Markets reissued a “market perform” rating and issued a $48.00 price objective on shares of Bristol-Myers Squibb in a research note on Monday, September 23rd. Sanford C. Bernstein assumed coverage on Bristol-Myers Squibb in a research note on Thursday, October 17th. They set a “market perform” rating and a $56.00 price target for the company. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $50.00 price objective on shares of Bristol-Myers Squibb in a research report on Friday, October 18th. UBS Group lifted their target price on Bristol-Myers Squibb from $50.00 to $54.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Finally, Barclays raised their price target on shares of Bristol-Myers Squibb from $42.00 to $43.00 and gave the stock an “underweight” rating in a research note on Monday, October 7th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Bristol-Myers Squibb currently has a consensus rating of “Hold” and an average price target of $53.57.

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.