Bristol-Myers Squibb (NYSE:BMY) Position Trimmed by NCM Capital Management LLC

NCM Capital Management LLC lowered its stake in Bristol-Myers Squibb (NYSE:BMY) by 0.9% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 21,388 shares of the biopharmaceutical company’s stock after selling 200 shares during the period. NCM Capital Management LLC’s holdings in Bristol-Myers Squibb were worth $1,107,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of BMY. Caisse DE Depot ET Placement DU Quebec grew its holdings in shares of Bristol-Myers Squibb by 16.0% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,282,297 shares of the biopharmaceutical company’s stock worth $118,086,000 after acquiring an additional 314,122 shares during the last quarter. PDT Partners LLC purchased a new position in Bristol-Myers Squibb in the 3rd quarter worth about $1,016,000. Fred Alger Management LLC increased its stake in Bristol-Myers Squibb by 146.5% in the 3rd quarter. Fred Alger Management LLC now owns 102,293 shares of the biopharmaceutical company’s stock worth $5,293,000 after purchasing an additional 60,797 shares in the last quarter. Captrust Financial Advisors lifted its stake in Bristol-Myers Squibb by 13.4% during the third quarter. Captrust Financial Advisors now owns 468,106 shares of the biopharmaceutical company’s stock valued at $24,220,000 after buying an additional 55,134 shares in the last quarter. Finally, Providence Wealth Advisors LLC boosted its holdings in shares of Bristol-Myers Squibb by 2.5% in the third quarter. Providence Wealth Advisors LLC now owns 30,817 shares of the biopharmaceutical company’s stock worth $1,625,000 after buying an additional 763 shares during the period. Institutional investors and hedge funds own 76.41% of the company’s stock.

Bristol-Myers Squibb Stock Performance

BMY stock opened at $59.22 on Friday. The firm has a 50 day moving average of $54.61 and a two-hundred day moving average of $48.22. Bristol-Myers Squibb has a 12 month low of $39.35 and a 12 month high of $61.08. The company has a market capitalization of $120.11 billion, a price-to-earnings ratio of -16.50, a P/E/G ratio of 15.90 and a beta of 0.44. The company has a quick ratio of 1.09, a current ratio of 1.24 and a debt-to-equity ratio of 2.83.

Bristol-Myers Squibb (NYSE:BMY) last posted its earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 EPS for the quarter, topping the consensus estimate of $1.49 by $0.31. Bristol-Myers Squibb had a negative net margin of 15.30% and a positive return on equity of 11.94%. The firm had revenue of $11.89 billion for the quarter, compared to the consensus estimate of $11.26 billion. During the same period in the prior year, the business posted $2.00 earnings per share. The business’s quarterly revenue was up 8.4% on a year-over-year basis. As a group, equities analysts anticipate that Bristol-Myers Squibb will post 0.93 EPS for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 4th were issued a $0.60 dividend. The ex-dividend date was Friday, October 4th. This represents a $2.40 annualized dividend and a yield of 4.05%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently -66.85%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on BMY shares. Citigroup boosted their price target on shares of Bristol-Myers Squibb from $55.00 to $60.00 and gave the company a “neutral” rating in a report on Tuesday, November 12th. Wolfe Research began coverage on Bristol-Myers Squibb in a report on Friday, November 15th. They issued a “peer perform” rating for the company. Daiwa Capital Markets upgraded Bristol-Myers Squibb from a “neutral” rating to an “outperform” rating in a report on Wednesday, November 13th. Daiwa America raised Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 13th. Finally, Sanford C. Bernstein started coverage on Bristol-Myers Squibb in a research report on Thursday, October 17th. They set a “market perform” rating and a $56.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating, two have issued a buy rating and three have given a strong buy rating to the company. According to MarketBeat, Bristol-Myers Squibb presently has an average rating of “Hold” and an average price target of $54.07.

Insiders Place Their Bets

In other news, SVP Phil M. Holzer sold 700 shares of the business’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $55.62, for a total value of $38,934.00. Following the completion of the sale, the senior vice president now directly owns 11,760 shares in the company, valued at approximately $654,091.20. The trade was a 5.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Samit Hirawat bought 1,830 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was purchased at an average price of $54.67 per share, for a total transaction of $100,046.10. Following the completion of the purchase, the executive vice president now directly owns 62,109 shares in the company, valued at $3,395,499.03. The trade was a 3.04 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.09% of the company’s stock.

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.