Bristol-Myers Squibb (NYSE:BMY) Shares Sold by AustralianSuper Pty Ltd

AustralianSuper Pty Ltd cut its stake in Bristol-Myers Squibb (NYSE:BMY) by 13.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,340,932 shares of the biopharmaceutical company’s stock after selling 516,629 shares during the period. AustralianSuper Pty Ltd’s holdings in Bristol-Myers Squibb were worth $172,860,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in BMY. Cornerstone Wealth Management LLC boosted its stake in Bristol-Myers Squibb by 6.6% during the 1st quarter. Cornerstone Wealth Management LLC now owns 15,392 shares of the biopharmaceutical company’s stock valued at $835,000 after purchasing an additional 948 shares during the period. First Trust Direct Indexing L.P. boosted its position in shares of Bristol-Myers Squibb by 52.1% during the first quarter. First Trust Direct Indexing L.P. now owns 22,320 shares of the biopharmaceutical company’s stock worth $1,210,000 after buying an additional 7,649 shares during the period. Legacy Wealth Asset Management LLC grew its holdings in Bristol-Myers Squibb by 5.9% in the 1st quarter. Legacy Wealth Asset Management LLC now owns 9,860 shares of the biopharmaceutical company’s stock worth $535,000 after buying an additional 545 shares in the last quarter. Accel Wealth Management grew its stake in shares of Bristol-Myers Squibb by 19.0% in the first quarter. Accel Wealth Management now owns 4,934 shares of the biopharmaceutical company’s stock worth $268,000 after purchasing an additional 788 shares in the last quarter. Finally, Maryland State Retirement & Pension System raised its position in shares of Bristol-Myers Squibb by 0.9% during the 1st quarter. Maryland State Retirement & Pension System now owns 159,870 shares of the biopharmaceutical company’s stock worth $8,670,000 after buying an additional 1,354 shares in the last quarter. 76.41% of the stock is currently owned by institutional investors.

Bristol-Myers Squibb Trading Up 4.6 %

Bristol-Myers Squibb stock traded up $2.42 during midday trading on Thursday, reaching $55.08. The stock had a trading volume of 6,954,465 shares, compared to its average volume of 14,436,089. The firm’s fifty day simple moving average is $50.98 and its two-hundred day simple moving average is $46.48. Bristol-Myers Squibb has a twelve month low of $39.35 and a twelve month high of $56.20. 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 firm has a market cap of $111.65 billion, a price-to-earnings ratio of -16.99, a PEG ratio of 13.75 and a beta of 0.46.

Bristol-Myers Squibb Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 4th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 4.36%. The ex-dividend date of this dividend is Friday, October 4th. Bristol-Myers Squibb’s dividend payout ratio is -77.42%.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. BMO Capital Markets restated a “market perform” rating and issued a $48.00 price objective on shares of Bristol-Myers Squibb in a report on Monday, September 23rd. TD Cowen lifted their price objective on shares of Bristol-Myers Squibb from $53.00 to $59.00 and gave the stock a “hold” rating in a research note on Monday, October 7th. UBS Group increased their target price on shares of Bristol-Myers Squibb from $50.00 to $54.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. Citigroup cut shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $75.00 to $55.00 in a report on Friday, October 25th. Finally, 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 report on Wednesday, August 28th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $52.38.

Bristol-Myers Squibb 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.