Gold Investment Management Ltd. Grows Position in Bristol-Myers Squibb (NYSE:BMY)

Gold Investment Management Ltd. boosted its stake in shares of Bristol-Myers Squibb (NYSE:BMYFree Report) by 1.9% in the first quarter, Holdings Channel reports. The fund owned 13,841 shares of the biopharmaceutical company’s stock after purchasing an additional 262 shares during the period. Gold Investment Management Ltd.’s holdings in Bristol-Myers Squibb were worth $751,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Adage Capital Partners GP L.L.C. purchased a new stake in Bristol-Myers Squibb during the third quarter valued at about $9,297,000. Creative Planning grew its holdings in shares of Bristol-Myers Squibb by 5.3% during the third quarter. Creative Planning now owns 363,032 shares of the biopharmaceutical company’s stock valued at $21,070,000 after purchasing an additional 18,243 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its holdings in shares of Bristol-Myers Squibb by 20.5% during the third quarter. Jacobs Levy Equity Management Inc. now owns 645,662 shares of the biopharmaceutical company’s stock valued at $37,474,000 after purchasing an additional 109,676 shares during the last quarter. Diversified Trust Co grew its holdings in shares of Bristol-Myers Squibb by 1.2% during the third quarter. Diversified Trust Co now owns 47,382 shares of the biopharmaceutical company’s stock valued at $2,750,000 after purchasing an additional 580 shares during the last quarter. Finally, Comerica Bank grew its holdings in Bristol-Myers Squibb by 96.1% in the 3rd quarter. Comerica Bank now owns 748,822 shares of the biopharmaceutical company’s stock worth $43,462,000 after buying an additional 367,044 shares in the last quarter. 76.41% of the stock is owned by institutional investors and hedge funds.

Bristol-Myers Squibb Stock Performance

Shares of NYSE BMY traded up $0.26 during trading on Wednesday, reaching $41.12. 9,664,881 shares of the company traded hands, compared to its average volume of 15,667,078. The firm has a 50 day simple moving average of $42.05 and a 200-day simple moving average of $47.52. The company has a quick ratio of 0.99, a current ratio of 1.11 and a debt-to-equity ratio of 2.99. The stock has a market capitalization of $83.34 billion, a PE ratio of -13.26, a P/E/G ratio of 13.68 and a beta of 0.44. Bristol-Myers Squibb has a 52-week low of $39.35 and a 52-week high of $65.38.

Bristol-Myers Squibb (NYSE:BMYGet Free Report) last released its earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) EPS for the quarter, topping analysts’ consensus estimates of ($4.53) by $0.13. Bristol-Myers Squibb had a negative net margin of 13.50% and a positive return on equity of 8.83%. The company had revenue of $11.87 billion for the quarter, compared to analysts’ expectations of $11.45 billion. During the same quarter last year, the business earned $2.05 EPS. The firm’s revenue was up 4.7% compared to the same quarter last year. Equities research analysts anticipate that Bristol-Myers Squibb will post 0.58 earnings per share for the current year.

Bristol-Myers Squibb Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Friday, July 5th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 5.84%. The ex-dividend date of this dividend is Friday, July 5th. Bristol-Myers Squibb’s dividend payout ratio is currently -77.42%.

Analyst Upgrades and Downgrades

BMY has been the subject of a number of research analyst reports. BMO Capital Markets cut their target price on Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating for the company in a research report on Friday, April 26th. William Blair restated a “market perform” rating on shares of Bristol-Myers Squibb in a report on Monday, April 1st. Wells Fargo & Company increased their target price on Bristol-Myers Squibb from $51.00 to $52.00 and gave the company an “equal weight” rating in a report on Thursday, April 18th. StockNews.com downgraded shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 27th. Finally, Barclays cut their target price on Bristol-Myers Squibb from $51.00 to $43.00 and set an “equal weight” rating on the stock in a report on Friday, April 26th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Bristol-Myers Squibb presently has an average rating of “Hold” and a consensus price target of $60.00.

Read Our Latest Stock Report on BMY

About Bristol-Myers Squibb

(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.

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

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