MBA Advisors LLC Increases Stock Position in Bristol-Myers Squibb (NYSE:BMY)

MBA Advisors LLC lifted its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 11.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,839 shares of the biopharmaceutical company’s stock after purchasing an additional 684 shares during the period. MBA Advisors LLC’s holdings in Bristol-Myers Squibb were worth $354,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of BMY. Capital International Investors lifted its stake in shares of Bristol-Myers Squibb by 14.1% during the first quarter. Capital International Investors now owns 70,203,814 shares of the biopharmaceutical company’s stock valued at $3,807,153,000 after buying an additional 8,675,322 shares during the period. M&G Plc purchased a new position in shares of Bristol-Myers Squibb during the 1st quarter worth $392,608,000. Pzena Investment Management LLC boosted its holdings in shares of Bristol-Myers Squibb by 119.8% during the first quarter. Pzena Investment Management LLC now owns 12,293,913 shares of the biopharmaceutical company’s stock worth $666,699,000 after purchasing an additional 6,701,097 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Bristol-Myers Squibb by 77.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 12,547,823 shares of the biopharmaceutical company’s stock valued at $680,469,000 after purchasing an additional 5,461,767 shares during the period. Finally, Federated Hermes Inc. lifted its position in Bristol-Myers Squibb by 86.3% during the second quarter. Federated Hermes Inc. now owns 7,546,311 shares of the biopharmaceutical company’s stock worth $313,398,000 after buying an additional 3,495,704 shares during the period. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have commented on BMY. Deutsche Bank Aktiengesellschaft lowered their price target on Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating for the company in a report on Tuesday, July 23rd. TD Cowen upped their price target on shares of Bristol-Myers Squibb from $53.00 to $59.00 and gave the stock a “hold” rating in a research report on Monday, October 7th. StockNews.com upgraded shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Monday, July 29th. BMO Capital Markets restated a “market perform” rating and set a $48.00 price objective on shares of Bristol-Myers Squibb in a report on Monday, September 23rd. Finally, Citigroup cut Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and reduced their target price for the company from $75.00 to $55.00 in a report on Friday. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Bristol-Myers Squibb presently has an average rating of “Hold” and a consensus target price of $53.57.

Bristol-Myers Squibb Trading Down 0.4 %

NYSE BMY opened at $52.44 on Tuesday. The stock has a market cap of $106.30 billion, a P/E ratio of -16.98, a PEG ratio of 13.75 and a beta of 0.46. The company’s fifty day simple moving average is $50.82 and its 200-day simple moving average is $46.41. The company has a current ratio of 1.16, a quick ratio of 1.02 and a debt-to-equity ratio of 2.86. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $55.03.

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

Bristol-Myers Squibb Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 4th will be issued a dividend of $0.60 per share. The ex-dividend date is Friday, October 4th. This represents a $2.40 annualized dividend and a yield of 4.58%. Bristol-Myers Squibb’s dividend payout ratio is presently -77.42%.

Bristol-Myers Squibb Company 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.