Meyer Handelman Co. Reduces Holdings in Bristol-Myers Squibb Co (BMY)

Meyer Handelman Co. decreased its holdings in Bristol-Myers Squibb Co (NYSE:BMY) by 1.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 652,728 shares of the biopharmaceutical company’s stock after selling 8,400 shares during the period. Bristol-Myers Squibb comprises approximately 2.0% of Meyer Handelman Co.’s portfolio, making the stock its 12th largest position. Meyer Handelman Co.’s holdings in Bristol-Myers Squibb were worth $40,521,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. BlackRock Inc. grew its stake in shares of Bristol-Myers Squibb by 7.2% during the second quarter. BlackRock Inc. now owns 111,913,559 shares of the biopharmaceutical company’s stock worth $6,193,296,000 after purchasing an additional 7,517,623 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in Bristol-Myers Squibb by 44.3% in the third quarter. Massachusetts Financial Services Co. MA now owns 9,460,148 shares of the biopharmaceutical company’s stock valued at $587,287,000 after acquiring an additional 2,903,920 shares during the last quarter. Janus Henderson Group PLC lifted its position in Bristol-Myers Squibb by 114.5% in the second quarter. Janus Henderson Group PLC now owns 6,922,917 shares of the biopharmaceutical company’s stock valued at $383,119,000 after acquiring an additional 3,695,485 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its position in Bristol-Myers Squibb by 2.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 6,283,205 shares of the biopharmaceutical company’s stock valued at $347,713,000 after acquiring an additional 172,417 shares during the last quarter. Finally, Bank of Montreal Can lifted its position in Bristol-Myers Squibb by 13.9% in the third quarter. Bank of Montreal Can now owns 5,862,162 shares of the biopharmaceutical company’s stock valued at $363,924,000 after acquiring an additional 717,503 shares during the last quarter. Hedge funds and other institutional investors own 72.54% of the company’s stock.

Shares of NYSE:BMY opened at $53.39 on Friday. Bristol-Myers Squibb Co has a one year low of $46.94 and a one year high of $70.05. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.53 and a quick ratio of 1.40. The stock has a market capitalization of $86.49 billion, a PE ratio of 17.74, a price-to-earnings-growth ratio of 1.48 and a beta of 1.08.

Bristol-Myers Squibb (NYSE:BMY) last announced its earnings results on Thursday, October 25th. The biopharmaceutical company reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $0.91 by $0.18. Bristol-Myers Squibb had a net margin of 6.50% and a return on equity of 47.89%. The business had revenue of $5.69 billion during the quarter, compared to analysts’ expectations of $5.72 billion. As a group, sell-side analysts predict that Bristol-Myers Squibb Co will post 3.88 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 1st. Stockholders of record on Friday, October 5th were issued a $0.40 dividend. The ex-dividend date of this dividend was Thursday, October 4th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.00%. Bristol-Myers Squibb’s payout ratio is 53.16%.

A number of equities research analysts recently weighed in on the stock. SunTrust Banks reissued a “buy” rating and issued a $67.00 price target on shares of Bristol-Myers Squibb in a research report on Tuesday, July 31st. JPMorgan Chase & Co. boosted their price target on shares of Bristol-Myers Squibb from $70.00 to $74.00 and gave the company an “overweight” rating in a research report on Monday, October 8th. ValuEngine raised shares of Bristol-Myers Squibb from a “sell” rating to a “hold” rating in a research report on Saturday, July 14th. BMO Capital Markets boosted their price target on shares of Bristol-Myers Squibb from $47.00 to $51.00 and gave the company a “market perform” rating in a research report on Monday, July 23rd. Finally, William Blair reissued an “outperform” rating on shares of Bristol-Myers Squibb in a research report on Monday, October 22nd. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $62.48.

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About Bristol-Myers Squibb

Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, and distributes biopharmaceutical products worldwide. The company offers drugs in various therapeutic classes, such as oncology; cardiovascular; immunoscience; and virology, including human immunodeficiency virus (HIV) infection.

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Institutional Ownership by Quarter for Bristol-Myers Squibb (NYSE:BMY)

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