Lighthouse Investment Partners LLC Reduces Stake in Bristol-Myers Squibb (NYSE:BMY)

Lighthouse Investment Partners LLC lessened its position in shares of Bristol-Myers Squibb (NYSE:BMY - Free Report) by 59.0% in the second quarter, according to its most recent filing with the SEC. The firm owned 44,726 shares of the biopharmaceutical company's stock after selling 64,343 shares during the quarter. Lighthouse Investment Partners LLC's holdings in Bristol-Myers Squibb were worth $1,857,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in BMY. Traynor Capital Management Inc. increased its holdings in shares of Bristol-Myers Squibb by 2.8% during the first quarter. Traynor Capital Management Inc. now owns 7,672 shares of the biopharmaceutical company's stock valued at $416,000 after acquiring an additional 207 shares in the last quarter. Paragon Capital Management LLC increased its holdings in shares of Bristol-Myers Squibb by 1.1% during the first quarter. Paragon Capital Management LLC now owns 20,500 shares of the biopharmaceutical company's stock valued at $1,112,000 after acquiring an additional 222 shares in the last quarter. OmniStar Financial Group Inc. increased its holdings in shares of Bristol-Myers Squibb by 1.7% during the second quarter. OmniStar Financial Group Inc. now owns 13,316 shares of the biopharmaceutical company's stock valued at $553,000 after acquiring an additional 224 shares in the last quarter. LGT Financial Advisors LLC increased its holdings in shares of Bristol-Myers Squibb by 42.7% during the second quarter. LGT Financial Advisors LLC now owns 759 shares of the biopharmaceutical company's stock valued at $32,000 after acquiring an additional 227 shares in the last quarter. Finally, Bell Investment Advisors Inc increased its holdings in shares of Bristol-Myers Squibb by 18.1% during the first quarter. Bell Investment Advisors Inc now owns 1,537 shares of the biopharmaceutical company's stock valued at $83,000 after acquiring an additional 236 shares in the last quarter. Institutional investors and hedge funds own 76.41% of the company's stock.

Analysts Set New Price Targets

BMY has been the subject of several research analyst reports. StockNews.com upgraded Bristol-Myers Squibb from a "buy" rating to a "strong-buy" rating in a report on Monday, July 29th. Deutsche Bank Aktiengesellschaft reduced their price objective on Bristol-Myers Squibb from $53.00 to $45.00 and set a "hold" rating for the company in a report on Tuesday, July 23rd. Cantor Fitzgerald reiterated a "neutral" rating and issued a $50.00 price objective on shares of Bristol-Myers Squibb in a report on Monday, September 16th. TD Cowen lifted their price objective on Bristol-Myers Squibb from $45.00 to $53.00 and gave the stock a "hold" rating in a report on Monday, August 12th. Finally, BMO Capital Markets reissued a "market perform" rating and issued a $48.00 target price on shares of Bristol-Myers Squibb in a research report on Monday, September 23rd. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $55.00.

Bristol-Myers Squibb Price Performance

Shares of Bristol-Myers Squibb stock traded up $0.79 during trading on Friday, reaching $50.91. 23,035,274 shares of the stock traded hands, compared to its average volume of 15,040,920. The company has a market capitalization of $103.20 billion, a price-to-earnings ratio of -16.42, a P/E/G ratio of 12.96 and a beta of 0.46. The business has a fifty day simple moving average of $48.53 and a two-hundred day simple moving average of $46.33. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.16 and a quick ratio of 1.02. Bristol-Myers Squibb has a 52-week low of $39.35 and a 52-week high of $58.46.

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last issued its quarterly earnings data on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share for the quarter, beating analysts' consensus estimates of $1.64 by $0.43. The firm had revenue of $12.20 billion during the quarter, compared to analyst estimates of $11.54 billion. Bristol-Myers Squibb had a positive return on equity of 12.51% and a negative net margin of 14.06%. The business's quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.75 earnings per share. Sell-side analysts expect that Bristol-Myers Squibb will post 0.77 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 4th will be given a $0.60 dividend. The ex-dividend date is Friday, October 4th. This represents a $2.40 annualized dividend and a yield of 4.71%. Bristol-Myers Squibb's dividend payout ratio is currently -77.42%.

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.