Doheny Asset Management CA Takes $372,000 Position in Bristol-Myers Squibb (NYSE:BMY)

Doheny Asset Management CA bought a new stake in shares of Bristol-Myers Squibb (NYSE:BMY) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 8,963 shares of the biopharmaceutical company’s stock, valued at approximately $372,000.

Other large investors also recently added to or reduced their stakes in the company. ESL Trust Services LLC bought a new stake in shares of Bristol-Myers Squibb during the first quarter valued at approximately $27,000. LGT Financial Advisors LLC increased its holdings in Bristol-Myers Squibb by 42.7% in the 2nd quarter. LGT Financial Advisors LLC now owns 759 shares of the biopharmaceutical company’s stock valued at $32,000 after acquiring an additional 227 shares during the last quarter. Fairman Group LLC purchased a new stake in Bristol-Myers Squibb in the 4th quarter worth $42,000. Redmont Wealth Advisors LLC purchased a new position in shares of Bristol-Myers Squibb during the first quarter valued at about $47,000. Finally, Accent Capital Management LLC bought a new stake in shares of Bristol-Myers Squibb in the fourth quarter worth about $46,000. 76.41% of the stock is owned by hedge funds and other institutional investors.

Bristol-Myers Squibb Stock Up 1.6 %

Shares of BMY opened at $50.91 on Friday. The firm has a fifty day moving average price of $48.53 and a 200-day moving average price of $46.33. The company has a current ratio of 1.16, a quick ratio of 1.02 and a debt-to-equity ratio of 2.86. The firm has a market capitalization of $103.20 billion, a P/E ratio of -16.42, a P/E/G 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.

Bristol-Myers Squibb (NYSE:BMY) last issued its earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 EPS for the quarter, topping analysts’ consensus estimates of $1.64 by $0.43. The business had revenue of $12.20 billion for the quarter, compared to the consensus estimate of $11.54 billion. Bristol-Myers Squibb had a negative net margin of 14.06% and a positive return on equity of 12.51%. The company’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.75 EPS. Equities research analysts expect 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 4.71%. The ex-dividend date of this dividend is Friday, October 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -77.42%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. TD Cowen lifted 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. Deutsche Bank Aktiengesellschaft decreased 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 note on Tuesday, July 23rd. Cantor Fitzgerald reissued a “neutral” rating and issued a $50.00 price objective on shares of Bristol-Myers Squibb in a research note on Monday, September 16th. Barclays upped their target price 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, BMO Capital Markets reiterated a “market perform” rating and issued a $48.00 price target on shares of Bristol-Myers Squibb in a research report on Monday, September 23rd. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $55.00.

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.