PFG Investments LLC Raises Stake in Bristol-Myers Squibb (NYSE:BMY)

by · The Cerbat Gem

PFG Investments LLC lifted its position in shares of Bristol-Myers Squibb (NYSE:BMY – Free Report) by 3.1% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 58,786 shares of the biopharmaceutical company’s stock after buying an additional 1,791 shares during the period. PFG Investments LLC’s holdings in Bristol-Myers Squibb were worth $3,042,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BMY. ESL Trust Services LLC acquired a new stake in Bristol-Myers Squibb in the 1st quarter worth about $27,000. LGT Financial Advisors LLC boosted its holdings in Bristol-Myers Squibb by 42.7% in the second quarter. LGT Financial Advisors LLC now owns 759 shares of the biopharmaceutical company’s stock valued at $32,000 after acquiring an additional 227 shares during the last quarter. ORG Wealth Partners LLC purchased a new stake in Bristol-Myers Squibb during the third quarter valued at about $34,000. MFA Wealth Advisors LLC acquired a new stake in Bristol-Myers Squibb during the second quarter worth about $39,000. Finally, Beach Investment Counsel Inc. PA purchased a new position in shares of Bristol-Myers Squibb in the 2nd quarter worth about $42,000. 76.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on BMY. Sanford C. Bernstein started coverage on shares of Bristol-Myers Squibb in a research report on Thursday, October 17th. They set a “market perform” rating and a $56.00 target price for the company. BMO Capital Markets reissued a “market perform” rating and issued a $48.00 target price on shares of Bristol-Myers Squibb in a research note on Monday, September 23rd. TD Cowen upped their price target on shares of Bristol-Myers Squibb from $53.00 to $59.00 and gave the stock a “hold” rating in a research report on Monday, October 7th. Cantor Fitzgerald reissued a “neutral” rating and issued a $50.00 price objective on shares of Bristol-Myers Squibb in a research report on Friday, October 18th. Finally, UBS Group upped their target price on Bristol-Myers Squibb from $50.00 to $54.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Two research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Bristol-Myers Squibb currently has a consensus rating of “Hold” and a consensus target price of $53.31.

Read Our Latest Research Report on BMY

Bristol-Myers Squibb Stock Down 1.9 %

Shares of NYSE:BMY traded down $1.00 during midday trading on Friday, reaching $51.92. The company had a trading volume of 7,127,425 shares, compared to its average volume of 14,553,149. The stock has a market capitalization of $105.25 billion, a P/E ratio of -16.75, a PEG ratio of 13.75 and a beta of 0.46. The stock’s fifty day moving average price is $50.75 and its 200-day moving average price is $46.44. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.16 and a quick ratio of 1.02. Bristol-Myers Squibb has a one year low of $39.35 and a one year high of $55.29.

Bristol-Myers Squibb (NYSE:BMY – Get Free Report) last released its earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $12.20 billion during the quarter, compared to the consensus estimate of $11.54 billion. During the same quarter in the previous year, the firm earned $1.75 EPS. The company’s revenue was up 8.7% on a year-over-year basis. Equities research analysts expect that Bristol-Myers Squibb will post 0.77 earnings per share for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 4th will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 4.62%. The ex-dividend date is Friday, October 4th. Bristol-Myers Squibb’s payout ratio is currently -77.42%.

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.

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