Gateway Investment Advisers LLC Grows Stock Holdings in Bristol-Myers Squibb (NYSE:BMY)

Gateway Investment Advisers LLC grew its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 0.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 111,566 shares of the biopharmaceutical company’s stock after purchasing an additional 240 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Bristol-Myers Squibb were worth $5,772,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. ESL Trust Services LLC acquired a new position in shares of Bristol-Myers Squibb during the 1st quarter valued at about $27,000. LGT Financial Advisors LLC raised its stake in Bristol-Myers Squibb by 42.7% during the second quarter. LGT Financial Advisors LLC now owns 759 shares of the biopharmaceutical company’s stock worth $32,000 after purchasing an additional 227 shares during the period. Fairman Group LLC purchased a new stake in shares of Bristol-Myers Squibb during the 4th quarter valued at $42,000. Redmont Wealth Advisors LLC acquired a new stake in shares of Bristol-Myers Squibb during the 1st quarter worth $47,000. Finally, Accent Capital Management LLC purchased a new position in shares of Bristol-Myers Squibb in the 4th quarter worth $46,000. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on BMY shares. Barclays upped their price target on Bristol-Myers Squibb from $42.00 to $43.00 and gave the stock an “underweight” rating in a research note on Monday, October 7th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating for the company in a research note on Tuesday, July 23rd. StockNews.com raised shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 29th. BMO Capital Markets reaffirmed a “market perform” rating and set a $48.00 price target on shares of Bristol-Myers Squibb in a research report on Monday, September 23rd. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $50.00 price target on shares of Bristol-Myers Squibb in a report on Monday, September 16th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Bristol-Myers Squibb has an average rating of “Hold” and an average target price of $53.00.

Bristol-Myers Squibb Stock Down 0.4 %

Shares of NYSE:BMY opened at $52.20 on Friday. Bristol-Myers Squibb has a 12-month low of $39.35 and a 12-month high of $57.65. The company has a current ratio of 1.16, a quick ratio of 1.02 and a debt-to-equity ratio of 2.86. The firm has a market cap of $105.81 billion, a PE ratio of -16.84, a price-to-earnings-growth ratio of 13.75 and a beta of 0.46. The company has a fifty day simple moving average of $49.75 and a 200 day simple moving average of $46.39.

Bristol-Myers Squibb (NYSE:BMY) last issued its earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.64 by $0.43. The business had revenue of $12.20 billion for the quarter, compared to analyst estimates of $11.54 billion. Bristol-Myers Squibb had a negative net margin of 14.06% and a positive return on equity of 12.51%. The company’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.75 EPS. On average, equities research analysts anticipate that Bristol-Myers Squibb will post 0.77 EPS for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 4th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.60%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is -77.42%.

Bristol-Myers Squibb Profile

Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. It offers products for hematology, oncology, cardiovascular, immunology, fibrotic, and neuroscience diseases. The company's products include Eliquis for reduction in risk of stroke/systemic embolism in non-valvular atrial fibrillation, and for the treatment of DVT/PE; Opdivo for various anti-cancer indications, including bladder, blood, CRC, head and neck, RCC, HCC, lung, melanoma, MPM, stomach and esophageal cancer; Pomalyst/Imnovid for multiple myeloma; Orencia for active rheumatoid arthritis and psoriatic arthritis; and Sprycel for the treatment of Philadelphia chromosome-positive chronic myeloid leukemia.