Louisiana State Employees Retirement System Decreases Holdings in Bristol-Myers Squibb (NYSE:BMY)

Louisiana State Employees Retirement System cut its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 0.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 114,100 shares of the biopharmaceutical company’s stock after selling 600 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Bristol-Myers Squibb were worth $5,904,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Kathmere Capital Management LLC purchased a new stake in Bristol-Myers Squibb in the 1st quarter worth about $222,000. Vicus Capital purchased a new stake in Bristol-Myers Squibb in the 1st quarter worth about $210,000. Founders Financial Securities LLC purchased a new stake in Bristol-Myers Squibb in the 1st quarter worth about $672,000. Cornerstone Wealth Group LLC boosted its stake in Bristol-Myers Squibb by 198.1% in the 1st quarter. Cornerstone Wealth Group LLC now owns 12,915 shares of the biopharmaceutical company’s stock worth $700,000 after purchasing an additional 8,582 shares during the period. Finally, Chapin Davis Inc. boosted its stake in Bristol-Myers Squibb by 22.6% in the 1st quarter. Chapin Davis Inc. now owns 22,544 shares of the biopharmaceutical company’s stock worth $1,223,000 after purchasing an additional 4,159 shares during the period. 76.41% of the stock is owned by hedge funds and other institutional investors.

Bristol-Myers Squibb Price Performance

Shares of Bristol-Myers Squibb stock opened at $51.92 on Friday. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.16 and a quick ratio of 1.02. The business’s 50 day simple moving average is $50.75 and its two-hundred day simple moving average is $46.41. The stock has a market capitalization of $105.25 billion, a P/E ratio of -16.75, a price-to-earnings-growth ratio of 13.75 and a beta of 0.46. Bristol-Myers Squibb has a one year low of $39.35 and a one year high of $55.29.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 EPS for the quarter, topping analysts’ consensus estimates of $1.64 by $0.43. The business 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 quarterly revenue was up 8.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.75 EPS. Analysts forecast 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. Shareholders of record on Friday, October 4th will be paid a $0.60 dividend. The ex-dividend date is Friday, October 4th. This represents a $2.40 dividend on an annualized basis and a yield of 4.62%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently -77.42%.

Analyst Upgrades and Downgrades

Several research analysts have commented on BMY shares. UBS Group raised their target price on Bristol-Myers Squibb from $50.00 to $54.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Jefferies Financial Group raised their target price on Bristol-Myers Squibb from $49.00 to $51.00 and gave the stock a “hold” rating in a research note on Wednesday, August 28th. Citigroup downgraded Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and cut their target price for the stock from $75.00 to $55.00 in a research note on Friday. Sanford C. Bernstein started coverage on Bristol-Myers Squibb in a research note on Thursday, October 17th. They issued a “market perform” rating and a $56.00 target price for the company. Finally, TD Cowen lifted their price target 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. Two research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $53.31.

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.