Algert Global LLC Purchases Shares of 7,901 Bristol-Myers Squibb (NYSE:BMY)

Algert Global LLC acquired a new position in Bristol-Myers Squibb (NYSE:BMY) during the second quarter, according to its most recent 13F filing with the SEC. The firm acquired 7,901 shares of the biopharmaceutical company’s stock, valued at approximately $328,000.

Several other hedge funds and other institutional investors have also modified their holdings of BMY. MidWestOne Financial Group Inc. grew its stake in Bristol-Myers Squibb by 22.1% during the second quarter. MidWestOne Financial Group Inc. now owns 27,830 shares of the biopharmaceutical company’s stock worth $1,156,000 after buying an additional 5,034 shares during the period. Susquehanna Fundamental Investments LLC acquired a new position in shares of Bristol-Myers Squibb during the 2nd quarter valued at $40,377,000. Scientech Research LLC purchased a new stake in Bristol-Myers Squibb during the 2nd quarter worth $1,249,000. Legal & General Group Plc increased its holdings in Bristol-Myers Squibb by 3.8% in the 2nd quarter. Legal & General Group Plc now owns 20,225,040 shares of the biopharmaceutical company’s stock valued at $839,946,000 after purchasing an additional 735,613 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in Bristol-Myers Squibb by 2.5% in the second quarter. The Manufacturers Life Insurance Company now owns 1,681,594 shares of the biopharmaceutical company’s stock valued at $69,837,000 after purchasing an additional 40,605 shares during the period. 76.41% of the stock is owned by institutional investors and hedge funds.

Bristol-Myers Squibb Stock Down 1.8 %

Shares of NYSE:BMY opened at $52.48 on Wednesday. The company’s fifty day moving average is $49.43 and its two-hundred day moving average is $46.34. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.02 and a current ratio of 1.16. Bristol-Myers Squibb has a 1-year low of $39.35 and a 1-year high of $57.65. The stock has a market capitalization of $106.38 billion, a price-to-earnings ratio of -16.93, a price-to-earnings-growth ratio of 12.96 and a beta of 0.46.

Bristol-Myers Squibb (NYSE:BMY) last issued 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. The firm 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 was up 8.7% on a year-over-year basis. During the same quarter last year, the company posted $1.75 earnings per share. Equities analysts anticipate that Bristol-Myers Squibb will post 0.77 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 4th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 4.57%. The ex-dividend date of this dividend is Friday, October 4th. Bristol-Myers Squibb’s payout ratio is -77.42%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Barclays upped their target price on Bristol-Myers Squibb from $42.00 to $43.00 and gave the stock an “underweight” rating in a research report on Monday. TD Cowen increased their price objective on shares of Bristol-Myers Squibb from $53.00 to $59.00 and gave the company a “hold” rating in a research report on Monday. Jefferies Financial Group upped their target price on shares of Bristol-Myers Squibb from $49.00 to $51.00 and gave the company a “hold” rating in a research note on Wednesday, August 28th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $50.00 price target on shares of Bristol-Myers Squibb in a research note on Monday, September 16th. Finally, 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. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $53.43.

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.