Forsta AP Fonden Raises Stock Position in Bristol-Myers Squibb (NYSE:BMY)

by · The Markets Daily

Forsta AP Fonden raised its position in Bristol-Myers Squibb (NYSE:BMY – Free Report) by 2.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 649,800 shares of the biopharmaceutical company’s stock after purchasing an additional 18,100 shares during the period. Forsta AP Fonden’s holdings in Bristol-Myers Squibb were worth $33,621,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Lincoln National Corp lifted its holdings in shares of Bristol-Myers Squibb by 7.7% in the first quarter. Lincoln National Corp now owns 42,894 shares of the biopharmaceutical company’s stock valued at $2,326,000 after purchasing an additional 3,052 shares in the last quarter. Chapin Davis Inc. grew its holdings in Bristol-Myers Squibb by 22.6% during the 1st quarter. Chapin Davis Inc. now owns 22,544 shares of the biopharmaceutical company’s stock valued at $1,223,000 after buying an additional 4,159 shares during the last quarter. Accel Wealth Management raised its holdings in shares of Bristol-Myers Squibb by 19.0% in the first quarter. Accel Wealth Management now owns 4,934 shares of the biopharmaceutical company’s stock worth $268,000 after acquiring an additional 788 shares during the last quarter. Xponance Inc. lifted its position in shares of Bristol-Myers Squibb by 8.8% in the second quarter. Xponance Inc. now owns 317,381 shares of the biopharmaceutical company’s stock valued at $13,181,000 after acquiring an additional 25,543 shares in the last quarter. Finally, Plato Investment Management Ltd boosted its stake in shares of Bristol-Myers Squibb by 25.4% during the second quarter. Plato Investment Management Ltd now owns 103,954 shares of the biopharmaceutical company’s stock valued at $4,317,000 after acquiring an additional 21,041 shares during the last quarter. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on BMY. Sanford C. Bernstein initiated coverage on shares of Bristol-Myers Squibb in a report on Thursday, October 17th. They issued a “market perform” rating and a $56.00 target price on the stock. TD Cowen boosted their price target on Bristol-Myers Squibb from $53.00 to $59.00 and gave the company a “hold” rating in a report on Monday, October 7th. Citigroup cut Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $75.00 to $55.00 in a report on Friday. Cantor Fitzgerald reiterated a “neutral” rating and issued a $50.00 target price on shares of Bristol-Myers Squibb in a research note on Friday, October 18th. Finally, StockNews.com upgraded Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Monday, July 29th. Two analysts have rated the stock with a sell rating, fifteen have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $53.31.

Read Our Latest Analysis on Bristol-Myers Squibb

Bristol-Myers Squibb Stock Down 1.9 %

NYSE:BMY traded down $1.00 during trading hours on Friday, hitting $51.92. The stock had a trading volume of 7,127,425 shares, compared to its average volume of 14,553,149. The business has a 50 day simple moving average of $50.75 and a two-hundred day simple moving average of $46.44. Bristol-Myers Squibb has a 1-year low of $39.35 and a 1-year high of $55.29. The company has a current ratio of 1.16, a quick ratio of 1.02 and a debt-to-equity ratio of 2.86. The company has a market cap of $105.25 billion, a PE ratio of -16.75, a price-to-earnings-growth ratio of 13.75 and a beta of 0.46.

Bristol-Myers Squibb (NYSE:BMY – Get Free Report) last issued its quarterly earnings data on Friday, July 26th. The biopharmaceutical company reported $2.07 EPS for the quarter, topping analysts’ consensus estimates of $1.64 by $0.43. The firm had revenue of $12.20 billion for the quarter, compared to analyst estimates of $11.54 billion. Bristol-Myers Squibb had a negative net margin of 14.06% and a positive return on equity of 12.51%. The firm’s revenue was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.75 EPS. Analysts predict that Bristol-Myers Squibb will post 0.77 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

The firm 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. 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 4.62%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -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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