Bristol-Myers Squibb (NYSE:BMY) Shares Purchased by Frank Rimerman Advisors LLC

Frank Rimerman Advisors LLC boosted its holdings in Bristol-Myers Squibb (NYSE:BMY) by 37,238.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 41,819 shares of the biopharmaceutical company’s stock after buying an additional 41,707 shares during the period. Frank Rimerman Advisors LLC’s holdings in Bristol-Myers Squibb were worth $1,737,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. ESL Trust Services LLC acquired a new position in Bristol-Myers Squibb during the first quarter worth approximately $27,000. LGT Financial Advisors LLC increased its holdings in shares of Bristol-Myers Squibb by 42.7% during the 2nd quarter. LGT Financial Advisors LLC now owns 759 shares of the biopharmaceutical company’s stock worth $32,000 after buying an additional 227 shares during the last quarter. MFA Wealth Advisors LLC purchased a new position in shares of Bristol-Myers Squibb in the 2nd quarter worth $39,000. Fairman Group LLC acquired a new position in Bristol-Myers Squibb in the fourth quarter valued at $42,000. Finally, Beach Investment Counsel Inc. PA purchased a new stake in Bristol-Myers Squibb during the second quarter valued at about $42,000. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Stock Performance

Bristol-Myers Squibb stock opened at $49.41 on Monday. The company has a market cap of $100.16 billion, a PE ratio of -15.94, a P/E/G ratio of 12.59 and a beta of 0.46. Bristol-Myers Squibb has a 12 month low of $39.35 and a 12 month high of $59.46. The company has a fifty day moving average price of $47.68 and a two-hundred day moving average price of $46.40. 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 (NYSE:BMY) last announced its quarterly earnings data on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share for the quarter, beating 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 during the quarter, compared to the consensus estimate of $11.54 billion. During the same quarter in the prior year, the firm earned $1.75 EPS. The company’s revenue for the quarter was up 8.7% compared to the same quarter last year. Research analysts expect that Bristol-Myers Squibb will post 0.77 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 4th will be given 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 4.86%. Bristol-Myers Squibb’s dividend payout ratio is currently -77.42%.

Analysts Set New Price Targets

A number of research firms have recently commented on BMY. TD Cowen raised their price objective on Bristol-Myers Squibb from $45.00 to $53.00 and gave the stock a “hold” rating in a report on Monday, August 12th. Barclays lifted 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 report on Thursday, August 22nd. StockNews.com raised shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 29th. Cantor Fitzgerald restated a “neutral” rating and set a $50.00 target price on shares of Bristol-Myers Squibb in a report on Monday, September 16th. Finally, Jefferies Financial Group increased their price target on Bristol-Myers Squibb from $49.00 to $51.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. Two 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 issued a strong buy rating to the stock. According to data from MarketBeat.com, Bristol-Myers Squibb currently has an average rating of “Hold” and a consensus price target of $55.00.

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.