Lecap Asset Management Ltd. Sells 10,719 Shares of Bristol-Myers Squibb (NYSE:BMY)

Lecap Asset Management Ltd. decreased its stake in Bristol-Myers Squibb (NYSE:BMY - Free Report) by 18.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 46,068 shares of the biopharmaceutical company's stock after selling 10,719 shares during the quarter. Lecap Asset Management Ltd.'s holdings in Bristol-Myers Squibb were worth $2,384,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BMY. Capital International Investors increased its stake in Bristol-Myers Squibb by 14.1% in the first quarter. Capital International Investors now owns 70,203,814 shares of the biopharmaceutical company's stock valued at $3,807,153,000 after purchasing an additional 8,675,322 shares in the last quarter. Primecap Management Co. CA increased its position in shares of Bristol-Myers Squibb by 1.0% in the 2nd 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 in the last quarter. Legal & General Group Plc raised its stake in Bristol-Myers Squibb by 3.8% during the 2nd quarter. Legal & General Group Plc now owns 20,225,040 shares of the biopharmaceutical company's stock worth $839,946,000 after buying an additional 735,613 shares during the period. Independent Franchise Partners LLP lifted its holdings in Bristol-Myers Squibb by 4.0% during the second quarter. Independent Franchise Partners LLP now owns 14,600,621 shares of the biopharmaceutical company's stock worth $606,364,000 after acquiring an additional 556,295 shares in the last quarter. Finally, Pzena Investment Management LLC grew its stake in Bristol-Myers Squibb by 15.0% in the second 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 period. Institutional investors own 76.41% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Barclays raised their price target on Bristol-Myers Squibb from $42.00 to $43.00 and gave the stock an "underweight" rating in a research report on Monday, October 7th. BMO Capital Markets reissued a "market perform" rating and issued a $48.00 target price on shares of Bristol-Myers Squibb in a research note on Monday, September 23rd. Sanford C. Bernstein began coverage on Bristol-Myers Squibb in a research note on Thursday, October 17th. They issued a "market perform" rating and a $56.00 price objective on the stock. Jefferies Financial Group raised their target price on shares of Bristol-Myers Squibb from $49.00 to $51.00 and gave the stock a "hold" rating in a research note on Wednesday, August 28th. Finally, Cantor Fitzgerald restated a "neutral" rating and issued a $50.00 price target on shares of Bristol-Myers Squibb in a research note on Friday, October 18th. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $53.20.

Bristol-Myers Squibb Stock Performance

NYSE BMY opened at $52.76 on Wednesday. The firm has a market cap of $106.95 billion, a price-to-earnings ratio of -17.02, 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 $56.77. The company has a 50-day simple moving average of $50.53 and a two-hundred day simple moving average of $46.35. The company has a quick ratio of 1.02, a current ratio of 1.16 and a debt-to-equity ratio of 2.86.

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last posted its earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.64 by $0.43. The firm had revenue of $12.20 billion for the quarter, compared to analysts' expectations 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 revenue was up 8.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.75 earnings per share. On average, equities analysts forecast that Bristol-Myers Squibb will post 0.77 EPS for the current year.

Bristol-Myers Squibb Announces Dividend

The company 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 dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 4.55%. The ex-dividend date of this dividend is Friday, October 4th. Bristol-Myers Squibb's dividend payout ratio (DPR) is currently -77.42%.

Bristol-Myers Squibb Company 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.

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