Perkins Capital Management Inc. Has $854,000 Stock Holdings in Bristol-Myers Squibb (NYSE:BMY)

Perkins Capital Management Inc. boosted its position in Bristol-Myers Squibb (NYSE:BMYFree Report) by 6.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 16,641 shares of the biopharmaceutical company’s stock after acquiring an additional 1,000 shares during the period. Perkins Capital Management Inc.’s holdings in Bristol-Myers Squibb were worth $854,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BMY. Brown Shipley& Co Ltd grew its holdings in Bristol-Myers Squibb by 1.8% in the 2nd quarter. Brown Shipley& Co Ltd now owns 9,161 shares of the biopharmaceutical company’s stock valued at $38,000 after buying an additional 164 shares in the last quarter. Riversedge Advisors LLC grew its holdings in Bristol-Myers Squibb by 3.2% in the 3rd quarter. Riversedge Advisors LLC now owns 5,691 shares of the biopharmaceutical company’s stock valued at $330,000 after buying an additional 178 shares in the last quarter. Vicus Capital grew its holdings in Bristol-Myers Squibb by 3.9% in the 3rd quarter. Vicus Capital now owns 4,824 shares of the biopharmaceutical company’s stock valued at $280,000 after buying an additional 179 shares in the last quarter. Front Row Advisors LLC grew its holdings in Bristol-Myers Squibb by 17.5% in the 4th quarter. Front Row Advisors LLC now owns 1,222 shares of the biopharmaceutical company’s stock valued at $88,000 after buying an additional 182 shares in the last quarter. Finally, Cassia Capital Partners LLC grew its holdings in Bristol-Myers Squibb by 2.3% in the 3rd quarter. Cassia Capital Partners LLC now owns 7,931 shares of the biopharmaceutical company’s stock valued at $460,000 after buying an additional 182 shares in the last quarter. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Bristol-Myers Squibb Trading Down 2.1 %

Bristol-Myers Squibb stock traded down $1.13 during trading hours on Monday, hitting $53.10. The stock had a trading volume of 2,710,074 shares, compared to its average volume of 16,639,258. The company has a quick ratio of 1.31, a current ratio of 1.43 and a debt-to-equity ratio of 1.24. The stock has a market cap of $107.62 billion, a price-to-earnings ratio of 13.80, a P/E/G ratio of 1.64 and a beta of 0.39. Bristol-Myers Squibb has a one year low of $47.58 and a one year high of $71.07. The business’s 50 day simple moving average is $50.96 and its 200-day simple moving average is $52.30.

Bristol-Myers Squibb (NYSE:BMYGet Free Report) last posted its earnings results on Friday, February 2nd. The biopharmaceutical company reported $1.70 EPS for the quarter, beating the consensus estimate of $1.55 by $0.15. The firm had revenue of $11.48 billion during the quarter, compared to the consensus estimate of $11.19 billion. Bristol-Myers Squibb had a return on equity of 50.95% and a net margin of 17.83%. The business’s quarterly revenue was up .6% on a year-over-year basis. During the same period last year, the company earned $1.82 earnings per share. On average, equities analysts predict that Bristol-Myers Squibb will post 6.61 EPS for the current fiscal year.

Bristol-Myers Squibb declared that its Board of Directors has initiated a share buyback program on Thursday, December 7th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the biopharmaceutical company to purchase up to 2.9% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Bristol-Myers Squibb Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Friday, April 5th will be given a $0.60 dividend. The ex-dividend date is Thursday, April 4th. This represents a $2.40 annualized dividend and a yield of 4.52%. Bristol-Myers Squibb’s dividend payout ratio is presently 62.18%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on BMY shares. Societe Generale lowered Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a report on Monday, March 11th. Bank of America lowered Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $68.00 to $60.00 in a report on Wednesday, January 3rd. Wells Fargo & Company reduced their target price on Bristol-Myers Squibb from $58.00 to $51.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 6th. Redburn Atlantic lowered Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $77.00 to $54.00 in a report on Tuesday, February 6th. Finally, StockNews.com raised Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Friday, March 1st. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $61.12.

Check Out Our Latest Analysis on Bristol-Myers Squibb

Bristol-Myers Squibb Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Bristol-Myers Squibb (NYSE:BMY)

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