Susquehanna Fundamental Investments LLC Makes New $40.38 Million Investment in Bristol-Myers Squibb (NYSE:BMY)

Susquehanna Fundamental Investments LLC bought a new position in shares of Bristol-Myers Squibb (NYSE:BMY) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 972,243 shares of the biopharmaceutical company’s stock, valued at approximately $40,377,000. Bristol-Myers Squibb makes up 0.9% of Susquehanna Fundamental Investments LLC’s investment portfolio, making the stock its 6th biggest holding.

A number of other institutional investors also recently bought and sold shares of the company. Traynor Capital Management Inc. increased its position in Bristol-Myers Squibb by 2.8% in the 1st quarter. Traynor Capital Management Inc. now owns 7,672 shares of the biopharmaceutical company’s stock valued at $416,000 after acquiring an additional 207 shares during the period. Paragon Capital Management LLC increased its position in shares of 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 valued at $1,112,000 after purchasing an additional 222 shares during the period. OmniStar Financial Group Inc. increased its position in shares of Bristol-Myers Squibb by 1.7% during the 2nd quarter. OmniStar Financial Group Inc. now owns 13,316 shares of the biopharmaceutical company’s stock valued at $553,000 after purchasing an additional 224 shares during the period. LGT Financial Advisors LLC increased its position 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 valued at $32,000 after purchasing an additional 227 shares during the period. Finally, Bell Investment Advisors Inc increased its position in shares of Bristol-Myers Squibb by 18.1% during the 1st quarter. Bell Investment Advisors Inc now owns 1,537 shares of the biopharmaceutical company’s stock valued at $83,000 after purchasing an additional 236 shares during the period. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. StockNews.com upgraded Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 29th. BMO Capital Markets reiterated a “market perform” rating and set a $48.00 price target on shares of Bristol-Myers Squibb in a research report on Monday, September 23rd. Jefferies Financial Group lifted their price target on Bristol-Myers Squibb from $49.00 to $51.00 and gave the company a “hold” rating in a research report on Wednesday, August 28th. 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 research note on Monday, August 12th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating for the company in a research note on Tuesday, July 23rd. Two 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’s stock. According to MarketBeat.com, Bristol-Myers Squibb currently has an average rating of “Hold” and an average price target of $55.00.

Bristol-Myers Squibb Stock Performance

Shares of Bristol-Myers Squibb stock opened at $50.92 on Friday. The stock has a market cap of $103.22 billion, a PE ratio of -16.43, a price-to-earnings-growth ratio of 12.96 and a beta of 0.46. Bristol-Myers Squibb has a 12 month low of $39.35 and a 12 month high of $58.46. 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 $48.53 and a 200-day simple moving average of $46.38.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings data on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.64 by $0.43. The firm had revenue of $12.20 billion during the quarter, compared to analysts’ expectations 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 business’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.75 earnings per share. On average, sell-side analysts anticipate that Bristol-Myers Squibb will post 0.77 EPS 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 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 4.71%. Bristol-Myers Squibb’s payout ratio is -77.42%.

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.