ProShare Advisors LLC Purchases 26,267 Shares of Bristol-Myers Squibb (NYSE:BMY)

ProShare Advisors LLC increased its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 8.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 338,422 shares of the biopharmaceutical company’s stock after purchasing an additional 26,267 shares during the period. ProShare Advisors LLC’s holdings in Bristol-Myers Squibb were worth $14,055,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Global Assets Advisory LLC acquired a new position in shares of Bristol-Myers Squibb in the 1st quarter valued at $5,161,000. Lincoln National Corp raised its position in Bristol-Myers Squibb by 7.7% in the first quarter. Lincoln National Corp now owns 42,894 shares of the biopharmaceutical company’s stock worth $2,326,000 after purchasing an additional 3,052 shares in the last quarter. Chapin Davis Inc. lifted its stake in Bristol-Myers Squibb by 22.6% during the first quarter. Chapin Davis Inc. now owns 22,544 shares of the biopharmaceutical company’s stock worth $1,223,000 after purchasing an additional 4,159 shares during the period. Sierra Summit Advisors LLC acquired a new stake in Bristol-Myers Squibb during the fourth quarter valued at approximately $755,000. Finally, Scotia Capital Inc. grew its stake in shares of Bristol-Myers Squibb by 48.6% in the 4th quarter. Scotia Capital Inc. now owns 236,724 shares of the biopharmaceutical company’s stock valued at $12,146,000 after purchasing an additional 77,471 shares during the period. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

BMY has been the subject of several analyst reports. Jefferies Financial Group raised their target price on Bristol-Myers Squibb from $49.00 to $51.00 and gave the stock a “hold” rating in a research report on Wednesday, August 28th. Cantor Fitzgerald restated a “neutral” rating and issued a $50.00 target price on shares of Bristol-Myers Squibb in a research note on Monday, September 16th. StockNews.com raised shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Monday, July 29th. 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 report on Tuesday, July 23rd. Finally, TD Cowen upped their price objective on shares of Bristol-Myers Squibb from $45.00 to $53.00 and gave the stock a “hold” rating in a research note on Monday, August 12th. Two 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 stock. Based on data from MarketBeat.com, Bristol-Myers Squibb has a consensus rating of “Hold” and a consensus target price of $55.00.

Bristol-Myers Squibb Trading Up 1.2 %

Shares of NYSE BMY opened at $50.02 on Tuesday. Bristol-Myers Squibb has a twelve month low of $39.35 and a twelve month high of $59.28. The stock has a market cap of $101.39 billion, a price-to-earnings ratio of -16.13, a P/E/G ratio of 12.59 and a beta of 0.46. 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 company’s fifty day moving average is $47.88 and its 200-day moving average is $46.38.

Bristol-Myers Squibb (NYSE:BMY) last posted its earnings results 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 firm had revenue of $12.20 billion for the quarter, compared to analyst estimates of $11.54 billion. Bristol-Myers Squibb had a positive return on equity of 12.51% and a negative net margin of 14.06%. The company’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.75 earnings per share. Equities research analysts predict that Bristol-Myers Squibb will post 0.77 EPS 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. Stockholders of record on Friday, October 4th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 4.80%. The ex-dividend date of this dividend is Friday, October 4th. Bristol-Myers Squibb’s dividend payout ratio is -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.