Klingenstein Fields & Co. LP Sells 3,700 Shares of Bristol-Myers Squibb (NYSE:BMY)

by · The Markets Daily

Klingenstein Fields & Co. LP reduced its holdings in shares of Bristol-Myers Squibb (NYSE:BMY – Free Report) by 30.1% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,582 shares of the biopharmaceutical company’s stock after selling 3,700 shares during the quarter. Klingenstein Fields & Co. LP’s holdings in Bristol-Myers Squibb were worth $444,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Intact Investment Management Inc. grew its stake in shares of Bristol-Myers Squibb by 7.1% in the third quarter. Intact Investment Management Inc. now owns 304,400 shares of the biopharmaceutical company’s stock valued at $15,750,000 after buying an additional 20,200 shares in the last quarter. Old North State Wealth Management LLC grew its stake in shares of Bristol-Myers Squibb by 16.5% in the third quarter. Old North State Wealth Management LLC now owns 8,204 shares of the biopharmaceutical company’s stock valued at $425,000 after buying an additional 1,164 shares in the last quarter. Roman Butler Fullerton & Co. grew its stake in shares of Bristol-Myers Squibb by 4.9% in the third quarter. Roman Butler Fullerton & Co. now owns 13,978 shares of the biopharmaceutical company’s stock valued at $737,000 after buying an additional 650 shares in the last quarter. Forum Financial Management LP grew its stake in shares of Bristol-Myers Squibb by 14.5% in the third quarter. Forum Financial Management LP now owns 11,422 shares of the biopharmaceutical company’s stock valued at $591,000 after buying an additional 1,447 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its stake in shares of Bristol-Myers Squibb by 2.5% in the third quarter. Robeco Institutional Asset Management B.V. now owns 4,410,071 shares of the biopharmaceutical company’s stock valued at $228,177,000 after buying an additional 109,503 shares in the last quarter. 76.41% of the stock is owned by institutional investors.

Bristol-Myers Squibb Stock Performance

NYSE:BMY opened at $54.46 on Monday. The stock has a market cap of $110.41 billion, a P/E ratio of -15.13, a price-to-earnings-growth ratio of 15.49 and a beta of 0.44. The company has a current ratio of 1.16, a quick ratio of 1.02 and a debt-to-equity ratio of 2.86. The stock’s 50-day moving average is $51.26 and its 200-day moving average is $46.56. Bristol-Myers Squibb has a 1-year low of $39.35 and a 1-year high of $56.20.

Bristol-Myers Squibb (NYSE:BMY – Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share for the quarter, topping the consensus estimate of $1.49 by $0.31. The company had revenue of $11.89 billion for the quarter, compared to analysts’ expectations of $11.26 billion. Bristol-Myers Squibb had a positive return on equity of 11.40% and a negative net margin of 15.30%. The business’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same period in the previous year, the business posted $2.00 earnings per share. Equities research analysts anticipate that Bristol-Myers Squibb will post 0.72 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 4th were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.41%. The ex-dividend date was Friday, October 4th. Bristol-Myers Squibb’s dividend payout ratio is currently -66.85%.

Wall Street Analyst Weigh In

BMY has been the subject of several analyst reports. BMO Capital Markets raised their target price on shares of Bristol-Myers Squibb from $53.00 to $57.00 and gave the company a “market perform” rating in a research note on Friday. StockNews.com raised shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 29th. UBS Group raised their price target on Bristol-Myers Squibb from $50.00 to $54.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. TD Cowen lifted their target price on Bristol-Myers Squibb from $53.00 to $59.00 and gave the company a “hold” rating in a research report on Monday, October 7th. Finally, Citigroup cut Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and decreased their target price for the company from $75.00 to $55.00 in a research report on Friday, October 25th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $53.00.

Read Our Latest Research 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.

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