Mutual Advisors LLC boosted its stake in shares of Bristol-Myers Squibb Co (NYSE:BMY) by 5.2% during the second quarter, Holdings Channel reports. The fund owned 22,546 shares of the biopharmaceutical company’s stock after acquiring an additional 1,114 shares during the period. Mutual Advisors LLC’s holdings in Bristol-Myers Squibb were worth $1,248,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. W.G. Shaheen & Associates DBA Whitney & Co bought a new position in shares of Bristol-Myers Squibb in the 1st quarter valued at about $101,000. Institutional & Family Asset Management LLC bought a new position in shares of Bristol-Myers Squibb in the 1st quarter valued at about $106,000. Centerpoint Advisors LLC boosted its stake in shares of Bristol-Myers Squibb by 373.1% in the 1st quarter. Centerpoint Advisors LLC now owns 1,774 shares of the biopharmaceutical company’s stock valued at $112,000 after purchasing an additional 1,399 shares during the last quarter. CSat Investment Advisory L.P. bought a new position in shares of Bristol-Myers Squibb in the 2nd quarter valued at about $113,000. Finally, Landaas & Co. WI ADV bought a new position in shares of Bristol-Myers Squibb in the 2nd quarter valued at about $131,000. 72.29% of the stock is currently owned by hedge funds and other institutional investors.
Several research analysts have recently issued reports on BMY shares. BMO Capital Markets raised their target price on shares of Bristol-Myers Squibb from $47.00 to $51.00 and gave the company a “market perform” rating in a research note on Monday, July 23rd. UBS Group lowered shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and set a $57.00 target price on the stock. in a research note on Monday, May 21st. SunTrust Banks reaffirmed a “buy” rating and issued a $67.00 target price on shares of Bristol-Myers Squibb in a research note on Tuesday, July 31st. Credit Suisse Group raised their target price on shares of Bristol-Myers Squibb from $58.00 to $61.00 and gave the company a “neutral” rating in a research note on Friday, July 27th. Finally, ValuEngine raised shares of Bristol-Myers Squibb from a “sell” rating to a “hold” rating in a research note on Saturday, July 14th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and six have issued a buy rating to the stock. Bristol-Myers Squibb currently has an average rating of “Hold” and a consensus target price of $62.89.
Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings results on Thursday, July 26th. The biopharmaceutical company reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.14. The business had revenue of $5.70 billion for the quarter, compared to the consensus estimate of $5.48 billion. Bristol-Myers Squibb had a net margin of 1.74% and a return on equity of 42.58%. Bristol-Myers Squibb’s revenue for the quarter was up 10.9% on a year-over-year basis. During the same period last year, the company posted $0.74 EPS. analysts forecast that Bristol-Myers Squibb Co will post 3.62 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, November 1st. Investors of record on Friday, October 5th will be given a $0.40 dividend. The ex-dividend date of this dividend is Thursday, October 4th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.64%. Bristol-Myers Squibb’s dividend payout ratio is 53.16%.
Bristol-Myers Squibb 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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