Global Financial Private Capital LLC grew its position in shares of Bristol-Myers Squibb Co (NYSE:BMY) by 1,462.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 59,832 shares of the biopharmaceutical company’s stock after acquiring an additional 56,002 shares during the quarter. Global Financial Private Capital LLC’s holdings in Bristol-Myers Squibb were worth $3,714,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also recently bought and sold shares of the company. CSat Investment Advisory L.P. bought a new stake in shares of Bristol-Myers Squibb during the 2nd quarter worth $113,000. Cypress Capital Management LLC WY raised its stake in shares of Bristol-Myers Squibb by 154.7% during the 3rd quarter. Cypress Capital Management LLC WY now owns 1,910 shares of the biopharmaceutical company’s stock worth $119,000 after purchasing an additional 1,160 shares during the period. Landaas & Co. WI ADV bought a new stake in shares of Bristol-Myers Squibb during the 2nd quarter worth $131,000. Selective Wealth Management bought a new stake in shares of Bristol-Myers Squibb during the 3rd quarter worth $184,000. Finally, LFA Lugano Financial Advisors SA raised its stake in shares of 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 worth $199,000 after purchasing an additional 1,481 shares during the period. 72.54% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts recently issued reports on the company. Morgan Stanley lowered their price objective on Bristol-Myers Squibb from $63.00 to $59.00 and set a “hold” rating on the stock in a research note on Tuesday. BMO Capital Markets lowered their price objective 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 assumed coverage on Bristol-Myers Squibb in a research note on Tuesday, October 23rd. They issued an “outperform” rating and a $66.00 price objective on the stock. William Blair restated an “outperform” rating on shares of Bristol-Myers Squibb in a research note on Monday, October 22nd. Finally, Citigroup cut Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $62.00 to $57.00 in a research note on Monday, October 22nd. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $62.48.
Shares of Bristol-Myers Squibb stock opened at $53.39 on Friday. Bristol-Myers Squibb Co has a 52-week low of $46.94 and a 52-week high of $70.05. The stock has a market capitalization of $86.49 billion, a P/E ratio of 17.74, a PEG ratio of 1.48 and a beta of 1.08. 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 announced its quarterly earnings results 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 for the quarter, compared to analysts’ expectations of $5.72 billion. As a group, sell-side analysts forecast that Bristol-Myers Squibb Co will post 3.88 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, November 1st. Stockholders of record on Friday, October 5th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 3.00%. The ex-dividend date was Thursday, October 4th. Bristol-Myers Squibb’s dividend payout ratio is presently 53.16%.
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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