Hollencrest Capital Management Invests $216,000 in Bristol-Myers Squibb Co (BMY)

Share on StockTwits

Hollencrest Capital Management bought a new position in shares of Bristol-Myers Squibb Co (NYSE:BMY) during the third quarter, HoldingsChannel reports. The firm bought 3,478 shares of the biopharmaceutical company’s stock, valued at approximately $216,000.

Several other hedge funds have also recently bought and sold shares of BMY. BlackRock Inc. grew its stake in shares of Bristol-Myers Squibb by 7.2% in the 2nd quarter. BlackRock Inc. now owns 111,913,559 shares of the biopharmaceutical company’s stock worth $6,193,296,000 after buying an additional 7,517,623 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Bristol-Myers Squibb by 44.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 9,460,148 shares of the biopharmaceutical company’s stock worth $587,287,000 after buying an additional 2,903,920 shares during the last quarter. Janus Henderson Group PLC grew its stake in shares of Bristol-Myers Squibb by 114.5% in the 2nd quarter. Janus Henderson Group PLC now owns 6,922,917 shares of the biopharmaceutical company’s stock worth $383,119,000 after buying an additional 3,695,485 shares during the last quarter. Schwab Charles Investment Management Inc. grew its stake in shares of Bristol-Myers Squibb by 2.8% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 6,283,205 shares of the biopharmaceutical company’s stock worth $347,713,000 after buying an additional 172,417 shares during the last quarter. Finally, Bank of Montreal Can grew its stake in shares of Bristol-Myers Squibb by 13.9% in the 3rd quarter. Bank of Montreal Can now owns 5,862,162 shares of the biopharmaceutical company’s stock worth $363,924,000 after buying an additional 717,503 shares during the last quarter. Hedge funds and other institutional investors own 72.54% of the company’s stock.

Several research firms recently weighed in on BMY. BMO Capital Markets cut their price target on Bristol-Myers Squibb from $57.00 to $54.00 and set a “market perform” rating on the stock in a research note on Tuesday, October 23rd. Wolfe Research began coverage on Bristol-Myers Squibb in a research note on Tuesday, October 23rd. They issued an “outperform” rating and a $66.00 price target on the stock. William Blair restated an “outperform” rating on shares of Bristol-Myers Squibb in a research note on Monday, October 22nd. Citigroup downgraded Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and cut their price target for the stock from $62.00 to $57.00 in a research note on Monday, October 22nd. Finally, ValuEngine downgraded Bristol-Myers Squibb from a “hold” rating to a “sell” rating in a research note on Friday, October 19th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have assigned a buy rating to the stock. Bristol-Myers Squibb has an average rating of “Hold” and an average target price of $62.42.

BMY stock opened at $52.03 on Tuesday. The company has a market capitalization of $82.74 billion, a P/E ratio of 17.29, a price-to-earnings-growth ratio of 1.41 and a beta of 1.08. Bristol-Myers Squibb Co has a 12-month low of $46.94 and a 12-month high of $70.05. The company has a current ratio of 1.53, a quick ratio of 1.40 and a debt-to-equity ratio of 0.41.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings data on Thursday, October 25th. The biopharmaceutical company reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.18. The business had revenue of $5.69 billion for the quarter, compared to analysts’ expectations of $5.72 billion. Bristol-Myers Squibb had a return on equity of 47.89% and a net margin of 6.50%. As a group, analysts forecast that Bristol-Myers Squibb Co will post 3.87 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 1st. Investors of record on Friday, October 5th were given a $0.40 dividend. The ex-dividend date of this dividend was Thursday, October 4th. This represents a $1.60 annualized dividend and a yield of 3.08%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently 53.16%.

COPYRIGHT VIOLATION NOTICE: This article was first reported by Macon Daily and is owned by of Macon Daily. If you are reading this article on another site, it was illegally stolen and reposted in violation of U.S. and international copyright legislation. The original version of this article can be viewed at https://macondaily.com/2018/11/06/hollencrest-capital-management-invests-216000-in-bristol-myers-squibb-co-bmy.html.

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.

Read More: Diversification For Individual Investors

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)

Receive News & Ratings for Bristol-Myers Squibb Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bristol-Myers Squibb and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply