Heron Bay Capital Management Invests $521,000 in Bristol-Myers Squibb (NYSE:BMY)

Heron Bay Capital Management bought a new stake in Bristol-Myers Squibb (NYSE:BMY) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 12,555 shares of the biopharmaceutical company’s stock, valued at approximately $521,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of BMY. ESL Trust Services LLC acquired a new position in shares of Bristol-Myers Squibb during the first quarter worth about $27,000. LGT Financial Advisors LLC grew its holdings in Bristol-Myers Squibb by 42.7% during the 2nd quarter. LGT Financial Advisors LLC now owns 759 shares of the biopharmaceutical company’s stock worth $32,000 after acquiring an additional 227 shares in the last quarter. MFA Wealth Advisors LLC purchased a new stake in shares of Bristol-Myers Squibb in the 2nd quarter valued at approximately $39,000. Fairman Group LLC acquired a new stake in shares of Bristol-Myers Squibb in the 4th quarter valued at $42,000. Finally, Beach Investment Counsel Inc. PA purchased a new stake in shares of Bristol-Myers Squibb during the 2nd quarter worth $42,000. 76.41% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BMY has been the topic of a number of analyst reports. Barclays raised their price target on Bristol-Myers Squibb from $41.00 to $42.00 and gave the company an “underweight” rating in a research note on Thursday, August 22nd. Deutsche Bank Aktiengesellschaft cut their target price on 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. TD Cowen upped their price target on Bristol-Myers Squibb from $45.00 to $53.00 and gave the company a “hold” rating in a report on Monday, August 12th. Cantor Fitzgerald reissued a “neutral” rating and set a $50.00 price objective on shares of Bristol-Myers Squibb in a report on Monday, September 16th. Finally, Jefferies Financial Group boosted 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. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $55.00.

Bristol-Myers Squibb Price Performance

Shares of NYSE:BMY opened at $49.41 on Friday. Bristol-Myers Squibb has a one year low of $39.35 and a one year high of $59.46. The stock has a market capitalization of $100.16 billion, a price-to-earnings ratio of -15.94, a PEG ratio of 12.59 and a beta of 0.46. The company has a 50-day simple moving average of $47.68 and a 200-day simple moving average of $46.45. 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 (NYSE:BMY) last posted its quarterly earnings data on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share for the quarter, topping analysts’ consensus estimates of $1.64 by $0.43. Bristol-Myers Squibb had a positive return on equity of 12.51% and a negative net margin of 14.06%. The company had revenue of $12.20 billion during the quarter, compared to analysts’ expectations of $11.54 billion. During the same period last year, the firm earned $1.75 EPS. The firm’s revenue for the quarter was up 8.7% on a year-over-year basis. On average, analysts predict that Bristol-Myers Squibb will post 0.77 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

The company also recently disclosed 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. The ex-dividend date is Friday, October 4th. This represents a $2.40 dividend on an annualized basis and a yield of 4.86%. Bristol-Myers Squibb’s payout ratio is currently -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.