3Chopt Investment Partners LLC Purchases 7,465 Shares of Bristol-Myers Squibb (NYSE:BMY)

3Chopt Investment Partners LLC raised its position in Bristol-Myers Squibb (NYSE:BMY) by 19.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 45,339 shares of the biopharmaceutical company’s stock after acquiring an additional 7,465 shares during the period. 3Chopt Investment Partners LLC’s holdings in Bristol-Myers Squibb were worth $1,883,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the business. Capital International Investors increased its stake in Bristol-Myers Squibb by 14.1% during the 1st quarter. Capital International Investors now owns 70,203,814 shares of the biopharmaceutical company’s stock valued at $3,807,153,000 after purchasing an additional 8,675,322 shares in the last quarter. Primecap Management Co. CA increased its position in shares of Bristol-Myers Squibb by 1.0% in the 2nd quarter. Primecap Management Co. CA now owns 23,498,604 shares of the biopharmaceutical company’s stock valued at $975,897,000 after acquiring an additional 225,197 shares during the period. Legal & General Group Plc raised its stake in Bristol-Myers Squibb by 3.8% in the 2nd quarter. Legal & General Group Plc now owns 20,225,040 shares of the biopharmaceutical company’s stock worth $839,946,000 after acquiring an additional 735,613 shares during the last quarter. Independent Franchise Partners LLP lifted its position in Bristol-Myers Squibb by 4.0% during the 2nd quarter. Independent Franchise Partners LLP now owns 14,600,621 shares of the biopharmaceutical company’s stock worth $606,364,000 after acquiring an additional 556,295 shares during the period. Finally, Pzena Investment Management LLC grew its stake in Bristol-Myers Squibb by 15.0% during the 2nd quarter. Pzena Investment Management LLC now owns 14,134,337 shares of the biopharmaceutical company’s stock valued at $586,999,000 after purchasing an additional 1,840,424 shares during the last quarter. Institutional investors and hedge funds own 76.41% of the company’s stock.

Analysts Set New Price Targets

BMY has been the subject of a number of research reports. StockNews.com raised Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Monday, July 29th. TD Cowen upped their price target on shares of Bristol-Myers Squibb from $45.00 to $53.00 and gave the company a “hold” rating in a report on Monday, August 12th. BMO Capital Markets reissued a “market perform” rating and issued a $48.00 price objective on shares of Bristol-Myers Squibb in a report on Monday, September 23rd. Barclays upped their price objective on Bristol-Myers Squibb from $41.00 to $42.00 and gave the stock an “underweight” rating in a research report on Thursday, August 22nd. Finally, Jefferies Financial Group increased their price target on shares of Bristol-Myers Squibb from $49.00 to $51.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $55.00.

Bristol-Myers Squibb Trading Up 1.6 %

Shares of Bristol-Myers Squibb stock opened at $51.74 on Tuesday. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.02 and a current ratio of 1.16. The company has a market capitalization of $104.88 billion, a P/E ratio of -16.69, a PEG ratio of 12.96 and a beta of 0.46. Bristol-Myers Squibb has a 1 year low of $39.35 and a 1 year high of $58.06. The company’s fifty day moving average is $48.71 and its two-hundred day moving average is $46.28.

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 firm had revenue of $12.20 billion for the quarter, compared to analyst estimates of $11.54 billion. During the same period last year, the firm posted $1.75 EPS. Bristol-Myers Squibb’s quarterly revenue was up 8.7% on a year-over-year basis. Analysts forecast that Bristol-Myers Squibb will post 0.77 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders 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 yield of 4.64%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -77.42%.

About Bristol-Myers Squibb

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.