Princeton Global Asset Management LLC purchased a new stake in Bristol-Myers Squibb Co (NYSE:BMY) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 7,320 shares of the biopharmaceutical company’s stock, valued at approximately $380,000.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Bank of New York Mellon Corp boosted its position in Bristol-Myers Squibb by 1.6% during the third quarter. Bank of New York Mellon Corp now owns 17,123,173 shares of the biopharmaceutical company’s stock worth $1,063,006,000 after purchasing an additional 277,927 shares during the period. Martingale Asset Management L P lifted its holdings in shares of Bristol-Myers Squibb by 12.7% during the third quarter. Martingale Asset Management L P now owns 556,353 shares of the biopharmaceutical company’s stock worth $34,540,000 after buying an additional 62,836 shares during the last quarter. Standard Life Aberdeen plc lifted its holdings in shares of Bristol-Myers Squibb by 9.9% during the third quarter. Standard Life Aberdeen plc now owns 533,866 shares of the biopharmaceutical company’s stock worth $33,143,000 after buying an additional 48,146 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of Bristol-Myers Squibb during the third quarter worth approximately $331,000. Finally, Dodge & Cox lifted its holdings in shares of Bristol-Myers Squibb by 0.8% during the third quarter. Dodge & Cox now owns 32,969,186 shares of the biopharmaceutical company’s stock worth $2,046,727,000 after buying an additional 264,100 shares during the last quarter. 74.28% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE BMY opened at $46.02 on Wednesday. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.61 and a quick ratio of 1.50. The firm has a market capitalization of $75.19 billion, a P/E ratio of 11.56, a PEG ratio of 2.39 and a beta of 0.79. Bristol-Myers Squibb Co has a one year low of $44.30 and a one year high of $63.69.
Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings data on Thursday, January 24th. The biopharmaceutical company reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.09. Bristol-Myers Squibb had a return on equity of 48.99% and a net margin of 21.95%. The firm had revenue of $5.97 billion during the quarter, compared to analyst estimates of $5.95 billion. During the same period in the prior year, the company posted $0.68 earnings per share. The business’s revenue for the quarter was up 9.6% compared to the same quarter last year. Equities analysts anticipate that Bristol-Myers Squibb Co will post 4.16 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Friday, April 5th will be paid a dividend of $0.41 per share. The ex-dividend date is Thursday, April 4th. This represents a $1.64 annualized dividend and a yield of 3.56%. Bristol-Myers Squibb’s dividend payout ratio is currently 41.21%.
A number of research analysts have recently commented on the company. Zacks Investment Research upgraded Bristol-Myers Squibb from a “hold” rating to a “buy” rating and set a $60.00 price target for the company in a report on Tuesday, March 5th. BMO Capital Markets restated a “buy” rating and issued a $60.00 target price on shares of Bristol-Myers Squibb in a research note on Thursday, January 3rd. Credit Suisse Group restated a “hold” rating and issued a $59.00 target price on shares of Bristol-Myers Squibb in a research note on Friday, February 15th. Bank of America cut their target price on Bristol-Myers Squibb from $53.00 to $51.00 and set a “neutral” rating for the company in a research note on Tuesday, February 19th. Finally, Morgan Stanley set a $54.00 target price on Bristol-Myers Squibb and gave the company a “hold” rating in a research note on Thursday, December 20th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and six have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $59.13.
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Bristol-Myers Squibb Profile
Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. The company offers drugs in oncology, immunoscience, cardiovascular, and fibrotic diseases. The company's products include Opdivo, a biological product for anti-cancer indications; Eliquis, an oral inhibitor targeted at stroke prevention in adult patients with non-valvular atrial fibrillation, and the prevention and treatment of venous thromboembolic disorders; and Orencia, a biological product for adult patients with moderately to severely active RA and prostate-specific antigen, as well as reducing signs and symptoms in certain pediatric patients with moderately to severely active polyarticular juvenile idiopathic arthritis.
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