Seven Eight Capital LP Purchases New Shares in Bristol-Myers Squibb (NYSE:BMY)

Seven Eight Capital LP purchased a new position in shares of Bristol-Myers Squibb (NYSE:BMY) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 9,450 shares of the biopharmaceutical company’s stock, valued at approximately $392,000.

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

Analyst Ratings Changes

BMY has been the subject of a number of analyst reports. StockNews.com raised Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 29th. Cantor Fitzgerald restated a “neutral” rating and issued a $50.00 target price on shares of Bristol-Myers Squibb in a research report on Monday, September 16th. 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. Barclays boosted their price objective 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. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating on the stock in a report on Tuesday, July 23rd. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $55.00.

Bristol-Myers Squibb Stock Up 0.8 %

NYSE:BMY opened at $49.41 on Monday. 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 has a one year low of $39.35 and a one year high of $59.46. The firm’s 50 day simple moving average is $47.68 and its 200 day simple moving average is $46.40. 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 (NYSE:BMY) last issued its quarterly earnings data on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share for the quarter, topping the consensus estimate of $1.64 by $0.43. The company had revenue of $12.20 billion for the quarter, compared to analysts’ expectations of $11.54 billion. Bristol-Myers Squibb had a negative net margin of 14.06% and a positive return on equity of 12.51%. Bristol-Myers Squibb’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.75 earnings per share. On average, research analysts anticipate that Bristol-Myers Squibb will post 0.77 earnings per share for the current year.

Bristol-Myers Squibb Announces Dividend

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

Bristol-Myers Squibb 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.