Meyer Handelman Co. Has $40.52 Million Stake in Bristol-Myers Squibb Co (BMY)

Meyer Handelman Co. cut its holdings in shares of Bristol-Myers Squibb Co (NYSE:BMY) by 1.3% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 652,728 shares of the biopharmaceutical company’s stock after selling 8,400 shares during the period. Bristol-Myers Squibb makes up about 2.0% of Meyer Handelman Co.’s portfolio, making the stock its 12th largest holding. Meyer Handelman Co.’s holdings in Bristol-Myers Squibb were worth $40,521,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of BMY. Skandinaviska Enskilda Banken AB publ boosted its holdings in Bristol-Myers Squibb by 74.6% in the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 496,411 shares of the biopharmaceutical company’s stock worth $30,817,000 after buying an additional 212,091 shares during the last quarter. Global Financial Private Capital LLC lifted its stake in Bristol-Myers Squibb by 1,462.2% in the 3rd quarter. Global Financial Private Capital LLC now owns 59,832 shares of the biopharmaceutical company’s stock worth $3,714,000 after purchasing an additional 56,002 shares in the last quarter. Chicago Partners Investment Group LLC lifted its stake in Bristol-Myers Squibb by 45.4% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 18,265 shares of the biopharmaceutical company’s stock worth $908,000 after purchasing an additional 5,707 shares in the last quarter. Becker Capital Management Inc. lifted its stake in Bristol-Myers Squibb by 28.5% in the 3rd quarter. Becker Capital Management Inc. now owns 9,028 shares of the biopharmaceutical company’s stock worth $560,000 after purchasing an additional 2,000 shares in the last quarter. Finally, Brookstone Capital Management lifted its stake in Bristol-Myers Squibb by 8.4% in the 3rd quarter. Brookstone Capital Management now owns 12,726 shares of the biopharmaceutical company’s stock worth $790,000 after purchasing an additional 983 shares in the last quarter. Hedge funds and other institutional investors own 72.54% of the company’s stock.

A number of research analysts have weighed in on BMY shares. JPMorgan Chase & Co. raised their target price on shares of Bristol-Myers Squibb from $70.00 to $74.00 and gave the stock an “overweight” rating in a research note on Monday, October 8th. Citigroup lowered shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $62.00 to $57.00 in a research note on Monday, October 22nd. Credit Suisse Group reissued a “hold” rating and issued a $61.00 target price on shares of Bristol-Myers Squibb in a research note on Wednesday, September 12th. Zacks Investment Research lowered shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research note on Monday, October 1st. Finally, William Blair reissued an “outperform” rating on shares of Bristol-Myers Squibb in a research note on Monday, October 22nd. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $62.48.

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

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Thursday, October 25th. The biopharmaceutical company reported $1.09 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.91 by $0.18. The firm had revenue of $5.69 billion for the quarter, compared to analyst estimates of $5.72 billion. Bristol-Myers Squibb had a net margin of 6.50% and a return on equity of 47.89%. Analysts forecast that Bristol-Myers Squibb Co will post 3.88 earnings per share for the current year.

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

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Bristol-Myers Squibb Company Profile

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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