Waddell & Reed Financial Inc. cut its holdings in shares of Bristol-Myers Squibb Co (NYSE:BMY) by 86.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 58,513 shares of the biopharmaceutical company’s stock after selling 389,527 shares during the quarter. Waddell & Reed Financial Inc.’s holdings in Bristol-Myers Squibb were worth $3,238,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of BMY. W.G. Shaheen & Associates DBA Whitney & Co acquired a new position in Bristol-Myers Squibb during the first quarter worth about $101,000. Institutional & Family Asset Management LLC acquired a new position in Bristol-Myers Squibb during the first quarter worth about $106,000. CSat Investment Advisory L.P. acquired a new position in Bristol-Myers Squibb during the second quarter worth about $113,000. Landaas & Co. WI ADV acquired a new position in Bristol-Myers Squibb during the second quarter worth about $131,000. Finally, Mount Yale Investment Advisors LLC acquired a new position in Bristol-Myers Squibb during the first quarter worth about $179,000. Hedge funds and other institutional investors own 72.24% of the company’s stock.

Shares of BMY stock opened at $62.25 on Friday. The company has a current ratio of 1.40, a quick ratio of 1.28 and a debt-to-equity ratio of 0.46. Bristol-Myers Squibb Co has a one year low of $49.96 and a one year high of $70.05. The company has a market capitalization of $101.75 billion, a PE ratio of 20.68, a P/E/G ratio of 1.71 and a beta of 1.02.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings data on Thursday, July 26th. The biopharmaceutical company reported $1.01 EPS for the quarter, topping the consensus estimate of $0.87 by $0.14. Bristol-Myers Squibb had a net margin of 1.74% and a return on equity of 42.58%. The firm had revenue of $5.70 billion for the quarter, compared to analyst estimates of $5.48 billion. During the same period in the prior year, the business posted $0.74 EPS. The business’s revenue for the quarter was up 10.9% compared to the same quarter last year. equities analysts expect that Bristol-Myers Squibb Co will post 3.62 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 1st. Stockholders of record on Friday, October 5th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Thursday, October 4th. This represents a $1.60 annualized dividend and a dividend yield of 2.57%. Bristol-Myers Squibb’s dividend payout ratio is currently 53.16%.

Several research firms have weighed in on BMY. Jefferies Financial Group set a $58.00 target price on shares of Bristol-Myers Squibb and gave the company a “hold” rating in a report on Sunday, July 15th. Credit Suisse Group reiterated a “hold” rating and issued a $61.00 target price on shares of Bristol-Myers Squibb in a report on Wednesday, September 12th. Atlantic Securities upgraded shares of Bristol-Myers Squibb from an “underweight” rating to a “neutral” rating and set a $57.00 target price on the stock in a report on Wednesday, August 8th. ValuEngine upgraded shares of Bristol-Myers Squibb from a “sell” rating to a “hold” rating in a report on Saturday, July 14th. Finally, BMO Capital Markets reiterated a “hold” rating and issued a $47.00 target price on shares of Bristol-Myers Squibb in a report on Thursday, June 21st. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and six have issued a buy rating to the stock. Bristol-Myers Squibb currently has an average rating of “Hold” and an average target price of $62.89.

Bristol-Myers Squibb Company Profile

Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, and distributes biopharmaceutical products worldwide. The company offers drugs in various therapeutic classes, such as oncology; cardiovascular; immunoscience; and virology, including human immunodeficiency virus (HIV) infection.

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Institutional Ownership by Quarter for Bristol-Myers Squibb (NYSE:BMY)

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