Douglass Winthrop Advisors LLC lifted its stake in shares of Bristol-Myers Squibb Co (NYSE:BMY) by 20.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 37,465 shares of the biopharmaceutical company’s stock after purchasing an additional 6,408 shares during the period. Douglass Winthrop Advisors LLC’s holdings in Bristol-Myers Squibb were worth $2,326,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently added to or reduced their stakes in the company. CSat Investment Advisory L.P. purchased a new stake in Bristol-Myers Squibb during the 2nd quarter valued at about $113,000. Landaas & Co. WI ADV purchased a new stake in Bristol-Myers Squibb during the 2nd quarter valued at about $131,000. Mount Yale Investment Advisors LLC purchased a new stake in Bristol-Myers Squibb during the 1st quarter valued at about $179,000. LFA Lugano Financial Advisors SA grew its stake in Bristol-Myers Squibb by 85.8% during the 3rd quarter. LFA Lugano Financial Advisors SA now owns 3,207 shares of the biopharmaceutical company’s stock valued at $199,000 after acquiring an additional 1,481 shares in the last quarter. Finally, Pure Financial Advisors Inc. purchased a new stake in Bristol-Myers Squibb during the 3rd quarter valued at about $201,000. 72.28% of the stock is owned by institutional investors and hedge funds.
Bristol-Myers Squibb stock opened at $57.51 on Friday. Bristol-Myers Squibb Co has a 1-year low of $49.96 and a 1-year high of $70.05. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.40 and a quick ratio of 1.28. The company has a market capitalization of $101.47 billion, a PE ratio of 19.11, a PEG ratio of 1.70 and a beta of 0.98.
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 consensus estimate of $0.87 by $0.14. Bristol-Myers Squibb had a net margin of 1.74% and a return on equity of 42.58%. The business had revenue of $5.70 billion during the quarter, compared to analysts’ expectations of $5.48 billion. During the same quarter in the prior year, the company posted $0.74 EPS. The business’s revenue for the quarter was up 10.9% on a year-over-year basis. As a group, equities analysts forecast that Bristol-Myers Squibb Co will post 3.62 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 1st. Stockholders of record on Friday, October 5th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Thursday, October 4th. This represents a $1.60 annualized dividend and a dividend yield of 2.78%. Bristol-Myers Squibb’s dividend payout ratio is currently 53.16%.
Several analysts recently issued reports on the stock. Guggenheim assumed coverage on shares of Bristol-Myers Squibb in a research note on Monday, October 8th. They set a “neutral” rating for the company. JPMorgan Chase & Co. upped their price objective on shares of Bristol-Myers Squibb from $70.00 to $74.00 and gave the company an “overweight” rating in a research note on Monday, October 8th. Zacks Investment Research raised shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and set a $70.00 price objective for the company in a research note on Friday, October 5th. Credit Suisse Group reaffirmed a “hold” rating and set a $61.00 price objective on shares of Bristol-Myers Squibb in a research note on Wednesday, September 12th. Finally, Atlantic Securities raised shares of Bristol-Myers Squibb from an “underweight” rating to a “neutral” rating and set a $57.00 price target for the company in a research note on Wednesday, August 8th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $62.95.
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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