Profund Advisors LLC cut its position in shares of Bristol-Myers Squibb Co (NYSE:BMY) by 13.7% in the second quarter, HoldingsChannel reports. The firm owned 63,170 shares of the biopharmaceutical company’s stock after selling 10,046 shares during the period. Profund Advisors LLC’s holdings in Bristol-Myers Squibb were worth $2,865,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Private Ocean LLC purchased a new position in shares of Bristol-Myers Squibb in the 1st quarter valued at $28,000. James Investment Research Inc. increased its holdings in shares of Bristol-Myers Squibb by 36.5% in the 1st quarter. James Investment Research Inc. now owns 819 shares of the biopharmaceutical company’s stock valued at $39,000 after acquiring an additional 219 shares during the period. Endurance Wealth Management Inc. increased its holdings in shares of Bristol-Myers Squibb by 119.6% in the 2nd quarter. Endurance Wealth Management Inc. now owns 918 shares of the biopharmaceutical company’s stock valued at $42,000 after acquiring an additional 500 shares during the period. SeaBridge Investment Advisors LLC increased its holdings in shares of Bristol-Myers Squibb by 47.4% in the 1st quarter. SeaBridge Investment Advisors LLC now owns 933 shares of the biopharmaceutical company’s stock valued at $45,000 after acquiring an additional 300 shares during the period. Finally, HMS Capital Management LLC purchased a new position in shares of Bristol-Myers Squibb in the 2nd quarter valued at $45,000. 80.27% of the stock is owned by institutional investors and hedge funds.

A number of research analysts have recently issued reports on the company. Argus downgraded Bristol-Myers Squibb from a “buy” rating to a “hold” rating and set a $46.36 price target on the stock. in a report on Monday, May 20th. ValuEngine upgraded Bristol-Myers Squibb from a “strong sell” rating to a “sell” rating in a report on Monday, August 26th. UBS Group dropped their target price on Bristol-Myers Squibb from $55.00 to $51.00 and set a “neutral” rating on the stock in a research note on Thursday, June 13th. Atlantic Securities upgraded Bristol-Myers Squibb from a “neutral” rating to an “overweight” rating and set a $63.00 target price on the stock in a research note on Wednesday, August 14th. Finally, Goldman Sachs Group began coverage on Bristol-Myers Squibb in a research note on Tuesday, May 28th. They set a “buy” rating and a $54.00 target price on the stock. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $55.74.

Bristol-Myers Squibb stock traded down $0.05 during trading hours on Friday, hitting $49.57. 4,055,701 shares of the stock traded hands, compared to its average volume of 9,503,818. The company has a debt-to-equity ratio of 1.51, a current ratio of 3.88 and a quick ratio of 3.75. The firm’s 50 day moving average price is $46.87 and its 200-day moving average price is $47.14. The stock has a market capitalization of $81.44 billion, a price-to-earnings ratio of 12.45, a P/E/G ratio of 2.39 and a beta of 0.70. Bristol-Myers Squibb Co has a 1 year low of $42.48 and a 1 year high of $63.69.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings results on Thursday, July 25th. The biopharmaceutical company reported $1.18 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.06 by $0.12. The business had revenue of $6.27 billion for the quarter, compared to the consensus estimate of $6.10 billion. Bristol-Myers Squibb had a return on equity of 47.63% and a net margin of 26.14%. The company’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.01 EPS. Research analysts forecast that Bristol-Myers Squibb Co will post 4.28 earnings per share for the current fiscal year.

The company 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 dividend of $0.41 per share. The ex-dividend date is Thursday, October 3rd. This represents a $1.64 annualized dividend and a yield of 3.31%. Bristol-Myers Squibb’s payout ratio is presently 41.21%.

In other news, Director Robert J. Bertolini purchased 11,000 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were acquired at an average price of $44.72 per share, for a total transaction of $491,920.00. Following the purchase, the director now owns 11,397 shares in the company, valued at $509,673.84. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 0.13% of the stock is currently owned by insiders.

About Bristol-Myers Squibb

Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. The company offers drugs in oncology, immunoscience, cardiovascular, and fibrotic diseases. The company's products include Opdivo, a biological product for anti-cancer indications; Eliquis, an oral inhibitor targeted at stroke prevention in adult patients with non-valvular atrial fibrillation, and the prevention and treatment of venous thromboembolic disorders; and Orencia, a biological product for adult patients with moderately to severely active RA and prostate-specific antigen, as well as reducing signs and symptoms in certain pediatric patients with moderately to severely active polyarticular juvenile idiopathic arthritis.

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

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