Hyperion Partners LLC Takes Position in Bristol-Myers Squibb (NYSE:BMY)

Hyperion Partners LLC acquired a new stake in Bristol-Myers Squibb (NYSE:BMY) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 4,372 shares of the biopharmaceutical company’s stock, valued at approximately $226,000.

A number of other institutional investors have also modified their holdings of the company. Perpetual Ltd grew its stake in shares of Bristol-Myers Squibb by 5.4% in the third quarter. Perpetual Ltd now owns 24,209 shares of the biopharmaceutical company’s stock valued at $1,253,000 after buying an additional 1,243 shares in the last quarter. Bruce G. Allen Investments LLC grew its stake in shares of Bristol-Myers Squibb by 22.0% in the third quarter. Bruce G. Allen Investments LLC now owns 3,405 shares of the biopharmaceutical company’s stock valued at $176,000 after buying an additional 614 shares in the last quarter. Enterprise Bank & Trust Co acquired a new stake in shares of Bristol-Myers Squibb in the third quarter valued at $212,000. Sanibel Captiva Trust Company Inc. grew its stake in shares of Bristol-Myers Squibb by 47.1% in the third quarter. Sanibel Captiva Trust Company Inc. now owns 35,320 shares of the biopharmaceutical company’s stock valued at $1,827,000 after buying an additional 11,315 shares in the last quarter. Finally, Wedmont Private Capital grew its stake in shares of Bristol-Myers Squibb by 14.1% in the third quarter. Wedmont Private Capital now owns 8,095 shares of the biopharmaceutical company’s stock valued at $433,000 after buying an additional 999 shares in the last quarter. 76.41% of the stock is owned by institutional investors and hedge funds.

Bristol-Myers Squibb Stock Performance

Shares of Bristol-Myers Squibb stock traded up $0.57 on Thursday, hitting $53.37. The stock had a trading volume of 580,081 shares, compared to its average volume of 14,936,113. Bristol-Myers Squibb has a 52-week low of $39.35 and a 52-week high of $57.65. 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 stock has a market cap of $108.19 billion, a price-to-earnings ratio of -17.03, a P/E/G ratio of 12.96 and a beta of 0.46. The company’s 50 day moving average price is $49.60 and its 200 day moving average price is $46.39.

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, beating the consensus estimate 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 business had revenue of $12.20 billion during the quarter, compared to the consensus estimate of $11.54 billion. During the same period in the previous year, the business earned $1.75 EPS. The business’s quarterly revenue was up 8.7% on a year-over-year basis. On average, research analysts anticipate that Bristol-Myers Squibb will post 0.77 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 4th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 4.50%. The ex-dividend date is Friday, October 4th. Bristol-Myers Squibb’s payout ratio is currently -77.42%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Cantor Fitzgerald reiterated a “neutral” rating and issued a $50.00 target price on shares of Bristol-Myers Squibb in a report on Monday, September 16th. TD Cowen lifted their target price on Bristol-Myers Squibb from $53.00 to $59.00 and gave the company a “hold” rating in a report on Monday. BMO Capital Markets reiterated a “market perform” rating and issued a $48.00 target price on shares of Bristol-Myers Squibb in a report on Monday, September 23rd. Jefferies Financial Group lifted their target price on Bristol-Myers Squibb from $49.00 to $51.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. Finally, Barclays lifted their target price on Bristol-Myers Squibb from $42.00 to $43.00 and gave the company an “underweight” rating in a report on Monday. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $53.00.

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.