Bristol-Myers Squibb (NYSE:BMY) Shares Sold by MAI Capital Management

MAI Capital Management reduced its holdings in Bristol-Myers Squibb (NYSE:BMY - Free Report) by 18.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 116,686 shares of the biopharmaceutical company's stock after selling 26,254 shares during the period. MAI Capital Management's holdings in Bristol-Myers Squibb were worth $6,037,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Capital International Investors lifted its stake in Bristol-Myers Squibb by 14.1% in the 1st quarter. Capital International Investors now owns 70,203,814 shares of the biopharmaceutical company's stock valued at $3,807,153,000 after buying an additional 8,675,322 shares in the last quarter. Primecap Management Co. CA raised its position in shares of Bristol-Myers Squibb by 1.0% in the second quarter. Primecap Management Co. CA now owns 23,498,604 shares of the biopharmaceutical company's stock valued at $975,897,000 after buying an additional 225,197 shares during the last quarter. Legal & General Group Plc boosted its position in Bristol-Myers Squibb by 3.8% during the second quarter. Legal & General Group Plc now owns 20,225,040 shares of the biopharmaceutical company's stock worth $839,946,000 after acquiring an additional 735,613 shares during the last quarter. Independent Franchise Partners LLP grew its stake in Bristol-Myers Squibb by 4.0% during the 2nd quarter. Independent Franchise Partners LLP now owns 14,600,621 shares of the biopharmaceutical company's stock valued at $606,364,000 after acquiring an additional 556,295 shares in the last quarter. Finally, Pzena Investment Management LLC raised its holdings in Bristol-Myers Squibb by 15.0% in the 2nd quarter. Pzena Investment Management LLC now owns 14,134,337 shares of the biopharmaceutical company's stock valued at $586,999,000 after acquiring an additional 1,840,424 shares during the last quarter. 76.41% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on BMY. Cantor Fitzgerald restated a "neutral" rating and issued a $50.00 price target on shares of Bristol-Myers Squibb in a research report on Friday, October 18th. TD Cowen upped their target price on Bristol-Myers Squibb from $53.00 to $59.00 and gave the company a "hold" rating in a report on Monday, October 7th. Sanford C. Bernstein initiated coverage on Bristol-Myers Squibb in a report on Thursday, October 17th. They set a "market perform" rating and a $56.00 price target on the stock. BMO Capital Markets raised their price objective on shares of Bristol-Myers Squibb from $57.00 to $61.00 and gave the stock a "market perform" rating in a research report on Tuesday, November 12th. Finally, Citigroup lifted their target price on shares of Bristol-Myers Squibb from $55.00 to $60.00 and gave the stock a "neutral" rating in a research note on Tuesday, November 12th. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, two have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $54.07.

Insider Buying and Selling

In related 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 of the company's stock, valued at $654,091.20. The trade was a 5.62 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Samit Hirawat bought 1,830 shares of the business's stock in a transaction dated Friday, November 1st. The shares were purchased at an average price of $54.67 per share, for a total transaction of $100,046.10. Following the transaction, the executive vice president now directly owns 62,109 shares of the company's stock, valued at approximately $3,395,499.03. This represents a 3.04 % increase in their position. The disclosure for this purchase can be found here. 0.09% of the stock is owned by company insiders.

Bristol-Myers Squibb Stock Up 2.5 %

Shares of NYSE BMY traded up $1.43 during mid-day trading on Tuesday, hitting $58.23. The company had a trading volume of 12,972,058 shares, compared to its average volume of 14,439,764. The company has a market capitalization of $118.10 billion, a PE ratio of -16.28, a price-to-earnings-growth ratio of 15.08 and a beta of 0.44. The business's 50-day simple moving average is $52.90 and its 200 day simple moving average is $47.37. Bristol-Myers Squibb has a 1-year low of $39.35 and a 1-year high of $61.08. The company has a debt-to-equity ratio of 2.83, a current ratio of 1.24 and a quick ratio of 1.09.

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last posted its quarterly 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. The company had revenue of $11.89 billion during the quarter, compared to analysts' expectations of $11.26 billion. Bristol-Myers Squibb had a negative net margin of 15.30% and a positive return on equity of 11.94%. The firm's revenue was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.00 EPS. On average, analysts predict that Bristol-Myers Squibb will post 0.93 earnings per share for the current year.

Bristol-Myers Squibb Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 4th were given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 4.12%. The ex-dividend date was Friday, October 4th. Bristol-Myers Squibb's dividend payout ratio (DPR) is presently -66.85%.

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.