Bristol-Myers Squibb Co (BMY) Shares Sold by Brown Advisory Inc.

Brown Advisory Inc. reduced its stake in shares of Bristol-Myers Squibb Co (NYSE:BMY) by 2.3% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 266,793 shares of the biopharmaceutical company’s stock after selling 6,345 shares during the period. Brown Advisory Inc.’s holdings in Bristol-Myers Squibb were worth $16,563,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. BlackRock Inc. raised its holdings in Bristol-Myers Squibb by 2.4% during the 3rd quarter. BlackRock Inc. now owns 114,573,885 shares of the biopharmaceutical company’s stock worth $7,112,747,000 after buying an additional 2,660,326 shares during the period. Jennison Associates LLC raised its holdings in shares of Bristol-Myers Squibb by 23.4% in the third quarter. Jennison Associates LLC now owns 21,526,559 shares of the biopharmaceutical company’s stock valued at $1,336,369,000 after purchasing an additional 4,080,245 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Bristol-Myers Squibb by 1.6% in the third quarter. Bank of New York Mellon Corp now owns 17,123,173 shares of the biopharmaceutical company’s stock valued at $1,063,006,000 after purchasing an additional 277,927 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of 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 purchasing an additional 2,903,920 shares during the last quarter. Finally, Janus Henderson Group PLC raised its holdings in shares of Bristol-Myers Squibb by 28.0% in the third quarter. Janus Henderson Group PLC now owns 8,860,702 shares of the biopharmaceutical company’s stock valued at $550,071,000 after purchasing an additional 1,937,785 shares during the last quarter. Hedge funds and other institutional investors own 72.90% of the company’s stock.

A number of analysts have recently issued reports on BMY shares. Atlantic Securities upgraded shares of Bristol-Myers Squibb from an “underweight” rating to a “neutral” rating and set a $57.00 price objective on the stock in a report on Wednesday, August 8th. Credit Suisse Group reiterated a “hold” rating and issued a $61.00 price objective on shares of Bristol-Myers Squibb in a report on Wednesday, September 12th. Zacks Investment Research downgraded shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a report on Monday, October 1st. JPMorgan Chase & Co. lifted their price objective on shares of Bristol-Myers Squibb from $70.00 to $74.00 and gave the company an “overweight” rating in a report on Monday, October 8th. Finally, Guggenheim started coverage on shares of Bristol-Myers Squibb in a report on Monday, October 8th. They issued a “neutral” rating on the stock. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $61.73.

Shares of BMY opened at $53.46 on Friday. The firm has a market cap of $87.26 billion, a P/E ratio of 14.37, a PEG ratio of 1.49 and a beta of 1.08. Bristol-Myers Squibb Co has a 1-year low of $46.94 and a 1-year high of $70.05. 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 (NYSE:BMY) last issued its earnings results on Thursday, October 25th. The biopharmaceutical company reported $1.09 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.91 by $0.18. The business had revenue of $5.69 billion for the quarter, compared to the consensus estimate of $5.72 billion. Bristol-Myers Squibb had a net margin of 6.50% and a return on equity of 47.89%. On average, analysts predict that Bristol-Myers Squibb Co will post 3.87 earnings per share for the current year.

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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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Want to see what other hedge funds are holding BMY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bristol-Myers Squibb Co (NYSE:BMY).

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

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