Plimoth Trust Co. LLC Sells 1,500 Shares of Bristol-Myers Squibb (NYSE:BMY)

by · The Markets Daily

Plimoth Trust Co. LLC decreased its holdings in shares of Bristol-Myers Squibb (NYSE:BMY – Free Report) by 4.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,154 shares of the biopharmaceutical company’s stock after selling 1,500 shares during the quarter. Plimoth Trust Co. LLC’s holdings in Bristol-Myers Squibb were worth $1,560,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. ESL Trust Services LLC bought a new position in shares of Bristol-Myers Squibb in the 1st quarter worth $27,000. LGT Financial Advisors LLC raised its position in 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 purchasing an additional 227 shares in the last quarter. ORG Wealth Partners LLC bought a new stake in Bristol-Myers Squibb during the third quarter worth about $34,000. MFA Wealth Advisors LLC purchased a new position in shares of Bristol-Myers Squibb in the 2nd quarter worth about $39,000. Finally, Beach Investment Counsel Inc. PA bought a new position in shares of Bristol-Myers Squibb during the 2nd quarter valued at about $42,000. 76.41% of the stock is owned by hedge funds and other institutional investors.

Bristol-Myers Squibb Stock Down 2.1 %

Shares of NYSE:BMY traded down $1.10 on Monday, hitting $52.12. 5,318,165 shares of the company traded hands, compared to its average volume of 14,705,835. The stock has a 50 day simple moving average of $50.36 and a 200-day simple moving average of $46.33. The company has a quick ratio of 1.02, a current ratio of 1.16 and a debt-to-equity ratio of 2.86. The company has a market cap of $105.65 billion, a PE ratio of -17.17, a PEG ratio of 13.75 and a beta of 0.46. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $56.77.

Bristol-Myers Squibb (NYSE:BMY – Get Free Report) last issued its earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.64 by $0.43. The firm had revenue of $12.20 billion for the quarter, compared to the consensus estimate of $11.54 billion. Bristol-Myers Squibb had a negative net margin of 14.06% and a positive return on equity of 12.51%. The business’s revenue was up 8.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.75 earnings per share. As a group, research analysts expect that Bristol-Myers Squibb will post 0.77 earnings per share for the current year.

Bristol-Myers Squibb Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 4th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.60%. The ex-dividend date is Friday, October 4th. Bristol-Myers Squibb’s payout ratio is currently -77.42%.

Analysts Set New Price Targets

Several analysts have issued reports on BMY shares. Deutsche Bank Aktiengesellschaft cut their target price on Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating for the company in a research note 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 Friday. Jefferies Financial Group increased their target price on Bristol-Myers Squibb from $49.00 to $51.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. TD Cowen lifted their price target on Bristol-Myers Squibb from $53.00 to $59.00 and gave the stock a “hold” rating in a research note on Monday, October 7th. Finally, Sanford C. Bernstein initiated coverage on Bristol-Myers Squibb in a research note on Thursday. They set a “market perform” rating and a $56.00 price objective for the company. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $53.20.

Check Out Our Latest Report on BMY

Bristol-Myers Squibb Company Profile

(Free Report)

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.

Read More