Bristol Myers Squibb Company $BMY Shares Sold by Edgar Lomax Co. VA

Edgar Lomax Co. VA trimmed its stake in Bristol Myers Squibb Company (NYSE:BMY) by 55.0% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 87,960 shares of the biopharmaceutical company’s stock after selling 107,640 shares during the quarter. Edgar Lomax Co. VA’s holdings in Bristol Myers Squibb were worth $5,365,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the stock. Brighton Jones LLC boosted its position in shares of Bristol Myers Squibb by 33.4% in the fourth quarter. Brighton Jones LLC now owns 19,728 shares of the biopharmaceutical company’s stock worth $1,116,000 after buying an additional 4,935 shares during the period. Bank Pictet & Cie Europe AG acquired a new stake in shares of Bristol Myers Squibb in the fourth quarter worth $13,094,000. First Trust Advisors LP boosted its position in shares of Bristol Myers Squibb by 18.2% in the fourth quarter. First Trust Advisors LP now owns 1,312,733 shares of the biopharmaceutical company’s stock worth $74,248,000 after buying an additional 202,232 shares during the period. BI Asset Management Fondsmaeglerselskab A S boosted its position in shares of Bristol Myers Squibb by 156.0% in the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 267,653 shares of the biopharmaceutical company’s stock worth $15,138,000 after buying an additional 163,121 shares during the period. Finally, Norinchukin Bank The boosted its position in shares of Bristol Myers Squibb by 11.7% in the fourth quarter. Norinchukin Bank The now owns 95,991 shares of the biopharmaceutical company’s stock worth $5,429,000 after buying an additional 10,055 shares during the period. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Morgan Stanley reissued a “hold” rating on shares of Bristol Myers Squibb in a research report on Thursday, July 31st. William Blair reissued a “market perform” rating on shares of Bristol Myers Squibb in a research report on Friday, April 25th. Cantor Fitzgerald reissued a “neutral” rating and set a $55.00 price objective on shares of Bristol Myers Squibb in a research report on Tuesday, April 22nd. Daiwa America cut Bristol Myers Squibb from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 5th. Finally, Wall Street Zen cut Bristol Myers Squibb from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 6th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $56.38.

Bristol Myers Squibb Stock Up 1.3%

Shares of BMY opened at $48.45 on Monday. The business’s 50 day simple moving average is $47.23 and its 200-day simple moving average is $51.39. Bristol Myers Squibb Company has a one year low of $42.96 and a one year high of $63.33. The company has a debt-to-equity ratio of 2.54, a current ratio of 1.21 and a quick ratio of 1.11. The company has a market capitalization of $98.62 billion, a P/E ratio of 19.54, a PEG ratio of 2.48 and a beta of 0.36.

Bristol Myers Squibb (NYSE:BMY) last posted its quarterly earnings data on Thursday, July 31st. The biopharmaceutical company reported $1.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.39. Bristol Myers Squibb had a return on equity of 80.04% and a net margin of 10.58%. The firm had revenue of $12.27 billion for the quarter, compared to the consensus estimate of $11.32 billion. During the same quarter in the prior year, the business earned $2.07 EPS. The business’s revenue for the quarter was up .6% compared to the same quarter last year. As a group, sell-side analysts predict that Bristol Myers Squibb Company will post 6.74 EPS for the current fiscal year.

Bristol Myers Squibb Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Thursday, July 3rd were given a $0.62 dividend. The ex-dividend date was Thursday, July 3rd. This represents a $2.48 dividend on an annualized basis and a dividend yield of 5.1%. Bristol Myers Squibb’s dividend payout ratio is currently 100.00%.

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.