Symmetry Investments LP Invests $557,000 in Bristol-Myers Squibb (NYSE:BMY)

Symmetry Investments LP purchased a new position in Bristol-Myers Squibb (NYSE:BMY) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 13,400 shares of the biopharmaceutical company’s stock, valued at approximately $557,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. ESL Trust Services LLC purchased a new position in Bristol-Myers Squibb during the first quarter worth about $27,000. LGT Financial Advisors LLC raised its stake in Bristol-Myers Squibb by 42.7% during the second quarter. LGT Financial Advisors LLC now owns 759 shares of the biopharmaceutical company’s stock worth $32,000 after purchasing an additional 227 shares during the period. MFA Wealth Advisors LLC purchased a new position in Bristol-Myers Squibb during the second quarter worth about $39,000. Fairman Group LLC purchased a new position in Bristol-Myers Squibb during the fourth quarter worth about $42,000. Finally, Beach Investment Counsel Inc. PA purchased a new position in Bristol-Myers Squibb during the second quarter worth about $42,000. 76.41% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

BMY has been the topic of a number of analyst reports. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $50.00 target price on shares of Bristol-Myers Squibb in a research note on Monday, September 16th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of 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. TD Cowen boosted their price target on shares of Bristol-Myers Squibb from $45.00 to $53.00 and gave the company a “hold” rating in a research note on Monday, August 12th. Barclays boosted their price target on shares of Bristol-Myers Squibb from $41.00 to $42.00 and gave the company an “underweight” rating in a research note on Thursday, August 22nd. Finally, Jefferies Financial Group boosted their price target 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. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $55.00.

Bristol-Myers Squibb Trading Up 0.8 %

NYSE BMY opened at $49.41 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.16 and a debt-to-equity ratio of 2.86. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $59.46. The stock has a market capitalization of $100.16 billion, a PE ratio of -15.94, a price-to-earnings-growth ratio of 12.59 and a beta of 0.46. The firm has a 50 day moving average of $47.68 and a two-hundred day moving average of $46.45.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 EPS 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 analysts’ expectations of $11.54 billion. During the same quarter in the previous year, the business posted $1.75 EPS. The firm’s revenue was up 8.7% on a year-over-year basis. As a group, research analysts expect that Bristol-Myers Squibb will post 0.77 EPS for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

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 dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 4.86%. The ex-dividend date is Friday, October 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -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.