Itau Unibanco Holding S.A. Takes Position in Bristol-Myers Squibb (NYSE:BMY)

Itau Unibanco Holding S.A. purchased a new position in shares of Bristol-Myers Squibb (NYSE:BMY) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 1,409 shares of the biopharmaceutical company’s stock, valued at approximately $59,000.

Several other institutional investors also recently added to or reduced their stakes in BMY. Traynor Capital Management Inc. grew its position in shares of Bristol-Myers Squibb by 2.8% during the first quarter. Traynor Capital Management Inc. now owns 7,672 shares of the biopharmaceutical company’s stock worth $416,000 after acquiring an additional 207 shares during the last quarter. Paragon Capital Management LLC grew its position in Bristol-Myers Squibb by 1.1% during the 1st quarter. Paragon Capital Management LLC now owns 20,500 shares of the biopharmaceutical company’s stock worth $1,112,000 after purchasing an additional 222 shares during the last quarter. OmniStar Financial Group Inc. raised its holdings in shares of Bristol-Myers Squibb by 1.7% in the second quarter. OmniStar Financial Group Inc. now owns 13,316 shares of the biopharmaceutical company’s stock valued at $553,000 after buying an additional 224 shares during the last quarter. LGT Financial Advisors LLC boosted its stake in shares of 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 buying an additional 227 shares during the period. Finally, Bell Investment Advisors Inc grew its holdings in shares of Bristol-Myers Squibb by 18.1% during the first quarter. Bell Investment Advisors Inc now owns 1,537 shares of the biopharmaceutical company’s stock worth $83,000 after buying an additional 236 shares during the last quarter. Institutional investors and hedge funds own 76.41% of the company’s stock.

Bristol-Myers Squibb Trading Up 0.8 %

Shares of BMY stock opened at $49.41 on Monday. Bristol-Myers Squibb has a fifty-two week low of $39.35 and a fifty-two week high of $59.46. The company has a quick ratio of 1.02, a current ratio of 1.16 and a debt-to-equity ratio of 2.86. The business has a fifty day simple moving average of $47.68 and a 200-day simple moving average of $46.40. The stock has a market cap of $100.16 billion, a P/E ratio of -15.94, a P/E/G ratio of 12.59 and a beta of 0.46.

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 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 earnings per share. The firm’s quarterly revenue was up 8.7% compared to the same quarter last year. On average, analysts forecast that Bristol-Myers Squibb will post 0.77 earnings per share for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 4th will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 4.86%. The ex-dividend date is Friday, October 4th. Bristol-Myers Squibb’s payout ratio is -77.42%.

Analyst Upgrades and Downgrades

Several research firms have commented on BMY. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $50.00 price objective on shares of Bristol-Myers Squibb in a research note on Monday, September 16th. TD Cowen increased their price target on Bristol-Myers Squibb from $45.00 to $53.00 and gave the stock a “hold” rating in a report on Monday, August 12th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating on the stock in a research report on Tuesday, July 23rd. Jefferies Financial Group upped their price objective on shares of Bristol-Myers Squibb from $49.00 to $51.00 and gave the stock a “hold” rating in a research report on Wednesday, August 28th. Finally, StockNews.com raised shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Monday, July 29th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $55.00.

About Bristol-Myers Squibb

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.