Global Financial Private Capital LLC lifted its holdings in shares of Bristol-Myers Squibb Co (NYSE:BMY) by 1,462.2% in the 3rd quarter, HoldingsChannel reports. The firm owned 59,832 shares of the biopharmaceutical company’s stock after acquiring an additional 56,002 shares during the period. Global Financial Private Capital LLC’s holdings in Bristol-Myers Squibb were worth $3,714,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of the company. CSat Investment Advisory L.P. purchased a new stake in Bristol-Myers Squibb in the second quarter worth approximately $113,000. Cypress Capital Management LLC WY boosted its stake in Bristol-Myers Squibb by 154.7% in the third quarter. Cypress Capital Management LLC WY now owns 1,910 shares of the biopharmaceutical company’s stock worth $119,000 after buying an additional 1,160 shares in the last quarter. Landaas & Co. WI ADV purchased a new stake in Bristol-Myers Squibb in the second quarter worth approximately $131,000. Selective Wealth Management purchased a new stake in Bristol-Myers Squibb in the third quarter worth approximately $184,000. Finally, LFA Lugano Financial Advisors SA boosted its stake in Bristol-Myers Squibb by 85.8% in the third quarter. LFA Lugano Financial Advisors SA now owns 3,207 shares of the biopharmaceutical company’s stock worth $199,000 after buying an additional 1,481 shares in the last quarter. 72.54% of the stock is owned by institutional investors.
Shares of BMY stock opened at $53.39 on Friday. The company has a quick ratio of 1.40, a current ratio of 1.53 and a debt-to-equity ratio of 0.41. Bristol-Myers Squibb Co has a fifty-two week low of $46.94 and a fifty-two week high of $70.05. The company has a market capitalization of $86.49 billion, a price-to-earnings ratio of 17.74, a P/E/G ratio of 1.48 and a beta of 1.08.
Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Thursday, October 25th. The biopharmaceutical company reported $1.09 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.91 by $0.18. Bristol-Myers Squibb had a return on equity of 47.89% and a net margin of 6.50%. The firm had revenue of $5.69 billion during the quarter, compared to the consensus estimate of $5.72 billion. On average, equities analysts predict that Bristol-Myers Squibb Co will post 3.88 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 1st. Shareholders of record on Friday, October 5th were given a $0.40 dividend. The ex-dividend date was Thursday, October 4th. This represents a $1.60 annualized dividend and a yield of 3.00%. Bristol-Myers Squibb’s payout ratio is currently 53.16%.
BMY has been the subject of several research reports. JPMorgan Chase & Co. upped their target price on 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 Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and cut their target price for the stock from $62.00 to $57.00 in a research note on Monday, October 22nd. Credit Suisse Group reaffirmed 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 Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research note on Monday, October 1st. Finally, William Blair reaffirmed an “outperform” rating on shares of Bristol-Myers Squibb in a research note on Monday, October 22nd. 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. The stock presently has a consensus rating of “Hold” and an average target price of $62.48.
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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