Bowling Portfolio Management LLC Takes $4.37 Million Position in Bristol-Myers Squibb Co (BMY)

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Bowling Portfolio Management LLC purchased a new position in Bristol-Myers Squibb Co (NYSE:BMY) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 78,959 shares of the biopharmaceutical company’s stock, valued at approximately $4,370,000.

Other institutional investors have also made changes to their positions in the company. DnB Asset Management AS grew its holdings in shares of Bristol-Myers Squibb by 0.3% during the second quarter. DnB Asset Management AS now owns 321,762 shares of the biopharmaceutical company’s stock worth $17,806,000 after buying an additional 900 shares in the last quarter. Mcmillion Capital Management Inc. grew its holdings in shares of Bristol-Myers Squibb by 1.4% during the second quarter. Mcmillion Capital Management Inc. now owns 64,044 shares of the biopharmaceutical company’s stock worth $3,544,000 after buying an additional 903 shares in the last quarter. Gillespie Robinson & Grimm Inc. grew its holdings in shares of Bristol-Myers Squibb by 12.3% during the second quarter. Gillespie Robinson & Grimm Inc. now owns 8,679 shares of the biopharmaceutical company’s stock worth $480,000 after buying an additional 950 shares in the last quarter. Canandaigua National Bank & Trust Co. grew its holdings in shares of Bristol-Myers Squibb by 1.7% during the second quarter. Canandaigua National Bank & Trust Co. now owns 57,533 shares of the biopharmaceutical company’s stock worth $3,184,000 after buying an additional 964 shares in the last quarter. Finally, Crescent Grove Advisors LLC grew its holdings in shares of Bristol-Myers Squibb by 6.8% during the second quarter. Crescent Grove Advisors LLC now owns 15,657 shares of the biopharmaceutical company’s stock worth $866,000 after buying an additional 1,000 shares in the last quarter. Institutional investors own 70.89% of the company’s stock.

A number of research analysts recently issued reports on BMY shares. SunTrust Banks reiterated a “buy” rating and set a $67.00 price objective on shares of Bristol-Myers Squibb in a report on Tuesday, July 31st. Barclays decreased their price objective on Bristol-Myers Squibb from $65.00 to $55.00 and set an “equal weight” rating for the company in a report on Friday, April 27th. BMO Capital Markets reiterated a “hold” rating on shares of Bristol-Myers Squibb in a report on Sunday, July 22nd. Jefferies Financial Group set a $58.00 price objective on Bristol-Myers Squibb and gave the stock a “hold” rating in a report on Sunday, July 15th. Finally, ValuEngine upgraded Bristol-Myers Squibb from a “sell” rating to a “hold” rating in a report on Saturday, July 14th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and seven have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $63.11.

BMY stock opened at $60.89 on Monday. The company has a quick ratio of 1.28, a current ratio of 1.40 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $96.94 billion, a price-to-earnings ratio of 20.23, a P/E/G ratio of 1.50 and a beta of 1.02. Bristol-Myers Squibb Co has a twelve month low of $49.96 and a twelve month high of $70.05.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings results on Thursday, July 26th. The biopharmaceutical company reported $1.01 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.87 by $0.14. The firm had revenue of $5.70 billion during the quarter, compared to the consensus estimate of $5.48 billion. Bristol-Myers Squibb had a return on equity of 42.58% and a net margin of 1.74%. The business’s revenue was up 10.9% compared to the same quarter last year. During the same period last year, the company earned $0.74 earnings per share. research analysts predict that Bristol-Myers Squibb Co will post 3.62 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 1st. Shareholders of record on Friday, July 6th were paid a $0.40 dividend. The ex-dividend date of this dividend was Thursday, July 5th. This represents a $1.60 dividend on an annualized basis and a yield of 2.63%. Bristol-Myers Squibb’s dividend payout ratio is 53.16%.

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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