Bristol-Myers Squibb (NYSE:BMY) Stock Position Raised by Altrius Capital Management Inc

Altrius Capital Management Inc lifted its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 26.1% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 97,042 shares of the biopharmaceutical company’s stock after purchasing an additional 20,100 shares during the period. Altrius Capital Management Inc’s holdings in Bristol-Myers Squibb were worth $4,030,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Capital International Investors lifted its stake in Bristol-Myers Squibb by 14.1% during the first quarter. Capital International Investors now owns 70,203,814 shares of the biopharmaceutical company’s stock valued at $3,807,153,000 after buying an additional 8,675,322 shares in the last quarter. M&G Plc acquired a new position in Bristol-Myers Squibb in the 1st quarter worth approximately $392,608,000. Pzena Investment Management LLC grew its position in Bristol-Myers Squibb by 119.8% during the 1st quarter. Pzena Investment Management LLC now owns 12,293,913 shares of the biopharmaceutical company’s stock worth $666,699,000 after purchasing an additional 6,701,097 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in Bristol-Myers Squibb by 77.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,547,823 shares of the biopharmaceutical company’s stock valued at $680,469,000 after purchasing an additional 5,461,767 shares during the period. Finally, Van ECK Associates Corp lifted its holdings in shares of Bristol-Myers Squibb by 97.2% in the first quarter. Van ECK Associates Corp now owns 7,949,173 shares of the biopharmaceutical company’s stock valued at $431,084,000 after purchasing an additional 3,918,234 shares in the last quarter. 76.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on BMY. TD Cowen increased their price target on shares of Bristol-Myers Squibb from $45.00 to $53.00 and gave the stock a “hold” rating in a research report on Monday, August 12th. Jefferies Financial Group lifted their target price on shares of Bristol-Myers Squibb from $49.00 to $51.00 and gave the company a “hold” rating in a research note on Wednesday, August 28th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $50.00 price target on shares of Bristol-Myers Squibb in a research note on Monday. Deutsche Bank Aktiengesellschaft lowered their target price on Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating on the stock in a research note on Tuesday, July 23rd. Finally, StockNews.com raised Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 29th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, two have given 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 has a consensus rating of “Hold” and an average target price of $55.00.

Bristol-Myers Squibb Stock Performance

NYSE:BMY opened at $49.74 on Thursday. The firm has a market capitalization of $100.83 billion, a PE ratio of -16.05, a PEG ratio of 12.59 and a beta of 0.46. The firm’s fifty day simple moving average is $47.34 and its 200 day simple moving average is $46.48. Bristol-Myers Squibb has a 1 year low of $39.35 and a 1 year high of $59.46. The company has a current ratio of 1.16, a quick ratio of 1.02 and a debt-to-equity ratio of 2.86.

Bristol-Myers Squibb (NYSE:BMY) last announced its earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $12.20 billion for the quarter, compared to analyst estimates of $11.54 billion. During the same quarter in the previous year, the firm posted $1.75 earnings per share. Bristol-Myers Squibb’s revenue was up 8.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Bristol-Myers Squibb will post 0.77 EPS for the current year.

Bristol-Myers Squibb Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 4th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.40 annualized dividend and a yield of 4.83%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is -77.42%.

Bristol-Myers Squibb Company Profile

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.