Fayez Sarofim & Co. Decreases Position in Bristol-Myers Squibb Company (BMY)

Fayez Sarofim & Co. trimmed its position in shares of Bristol-Myers Squibb Company (NYSE:BMY) by 3.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 24,824 shares of the biopharmaceutical company’s stock after selling 999 shares during the period. Fayez Sarofim & Co.’s holdings in Bristol-Myers Squibb were worth $1,383,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. First Trust Advisors LP increased its stake in Bristol-Myers Squibb by 10.7% in the 2nd quarter. First Trust Advisors LP now owns 433,050 shares of the biopharmaceutical company’s stock worth $24,130,000 after purchasing an additional 41,892 shares during the period. Toronto Dominion Bank increased its stake in Bristol-Myers Squibb by 54.0% in the 1st quarter. Toronto Dominion Bank now owns 464,591 shares of the biopharmaceutical company’s stock worth $25,264,000 after purchasing an additional 162,884 shares during the period. Oppenheimer & Co. Inc. increased its stake in Bristol-Myers Squibb by 2.5% in the 2nd quarter. Oppenheimer & Co. Inc. now owns 358,509 shares of the biopharmaceutical company’s stock worth $19,976,000 after purchasing an additional 8,813 shares during the period. Mutual of America Capital Management LLC increased its stake in Bristol-Myers Squibb by 1.9% in the 1st quarter. Mutual of America Capital Management LLC now owns 201,037 shares of the biopharmaceutical company’s stock worth $10,932,000 after purchasing an additional 3,833 shares during the period. Finally, Dividend Assets Capital LLC purchased a new position in Bristol-Myers Squibb in the 2nd quarter worth approximately $737,000. 69.82% of the stock is currently owned by institutional investors.

Shares of Bristol-Myers Squibb Company (NYSE:BMY) opened at $60.97 on Thursday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.46 and a current ratio of 1.59. Bristol-Myers Squibb Company has a 1 year low of $46.01 and a 1 year high of $66.10. The firm has a market capitalization of $101,508.14, a P/E ratio of 20.95, a P/E/G ratio of 2.35 and a beta of 1.18.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Thursday, October 26th. The biopharmaceutical company reported $0.75 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.77 by ($0.02). Bristol-Myers Squibb had a net margin of 20.56% and a return on equity of 32.41%. The firm had revenue of $5.25 billion for the quarter, compared to the consensus estimate of $5.20 billion. During the same quarter in the prior year, the firm earned $0.77 earnings per share. The company’s revenue for the quarter was up 6.7% compared to the same quarter last year. research analysts predict that Bristol-Myers Squibb Company will post 2.99 EPS for the current fiscal year.

In related news, EVP Sandra Leung sold 156,582 shares of Bristol-Myers Squibb stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $63.37, for a total transaction of $9,922,601.34. Following the sale, the executive vice president now directly owns 584,373 shares in the company, valued at $37,031,717.01. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.23% of the company’s stock.

A number of equities analysts have commented on BMY shares. Hilliard Lyons cut Bristol-Myers Squibb from a “long-term buy” rating to a “neutral” rating and set a $65.00 price target on the stock. in a research note on Tuesday, September 12th. Goldman Sachs Group reaffirmed a “buy” rating and issued a $65.00 price target (up from $62.00) on shares of Bristol-Myers Squibb in a research note on Thursday, September 7th. Zacks Investment Research upgraded Bristol-Myers Squibb from a “hold” rating to a “buy” rating and set a $68.00 price objective on the stock in a research report on Wednesday, November 1st. SunTrust Banks upgraded Bristol-Myers Squibb from a “hold” rating to a “buy” rating in a research report on Monday, October 30th. Finally, Barclays lifted their price objective on Bristol-Myers Squibb from $58.00 to $65.00 and gave the stock an “equal weight” rating in a research report on Friday, October 13th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and eleven have assigned a buy rating to the company. Bristol-Myers Squibb has a consensus rating of “Hold” and a consensus target price of $64.93.

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About Bristol-Myers Squibb

Bristol-Myers Squibb Company is engaged in the discovery, development, licensing, manufacturing, marketing, distribution and sale of biopharmaceutical products. The Company’s pharmaceutical products include chemically synthesized drugs, or small molecules, and products produced from biological processes called biologics.

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

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