Rafferty Asset Management LLC purchased a new position in shares of Bristol-Myers Squibb Co (NYSE:BMY) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,335 shares of the biopharmaceutical company’s stock, valued at approximately $207,000.
Several other institutional investors have also modified their holdings of the business. Wealth Architects LLC raised its position in shares of Bristol-Myers Squibb by 14.0% in the 3rd quarter. Wealth Architects LLC now owns 6,923 shares of the biopharmaceutical company’s stock worth $430,000 after buying an additional 848 shares during the period. Beech Hill Advisors Inc. raised its position in shares of Bristol-Myers Squibb by 0.8% in the 3rd quarter. Beech Hill Advisors Inc. now owns 105,500 shares of the biopharmaceutical company’s stock worth $6,549,000 after buying an additional 850 shares during the period. Signature Financial Management Inc. raised its position in shares of Bristol-Myers Squibb by 1.9% in the 2nd quarter. Signature Financial Management Inc. now owns 46,006 shares of the biopharmaceutical company’s stock worth $2,546,000 after buying an additional 870 shares during the period. Mcmillion Capital Management Inc. raised its position in shares of Bristol-Myers Squibb by 1.4% in the 2nd quarter. Mcmillion Capital Management Inc. now owns 64,044 shares of the biopharmaceutical company’s stock worth $3,544,000 after buying an additional 903 shares during the period. Finally, Securian Asset Management Inc raised its position in shares of Bristol-Myers Squibb by 0.5% in the 2nd quarter. Securian Asset Management Inc now owns 167,108 shares of the biopharmaceutical company’s stock worth $9,248,000 after buying an additional 912 shares during the period. 72.74% of the stock is currently owned by institutional investors.
Shares of NYSE BMY opened at $53.25 on Friday. Bristol-Myers Squibb Co has a 12-month low of $46.94 and a 12-month high of $70.05. The firm has a market capitalization of $84.92 billion, a P/E ratio of 17.69, a P/E/G ratio of 1.45 and a beta of 1.11. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.53 and a quick ratio of 1.40.
Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings results on Thursday, October 25th. The biopharmaceutical company reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.18. The firm had revenue of $5.69 billion during the quarter, compared to the consensus estimate of $5.72 billion. Bristol-Myers Squibb had a return on equity of 47.89% and a net margin of 6.50%. On average, analysts forecast that Bristol-Myers Squibb Co will post 3.87 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, February 1st. Stockholders of record on Friday, January 4th will be paid a dividend of $0.41 per share. This is an increase from Bristol-Myers Squibb’s previous quarterly dividend of $0.40. This represents a $1.64 annualized dividend and a dividend yield of 3.08%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently 53.16%.
Several research analysts recently weighed in on BMY shares. Barclays increased their target price on Bristol-Myers Squibb from $55.00 to $58.00 and gave the stock an “equal weight” rating in a research report on Friday, October 12th. Morgan Stanley cut their target price on Bristol-Myers Squibb from $63.00 to $59.00 and set a “hold” rating on the stock in a research report on Tuesday, November 6th. Credit Suisse Group set a $61.00 price target on Bristol-Myers Squibb and gave the company a “hold” rating in a report on Sunday, October 14th. Zacks Investment Research upgraded Bristol-Myers Squibb from a “hold” rating to a “buy” rating and set a $70.00 price target for the company in a report on Friday, October 5th. Finally, ValuEngine downgraded Bristol-Myers Squibb from a “hold” rating to a “sell” rating in a report on Friday, October 19th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $61.95.
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Bristol-Myers Squibb Company Profile
Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, and distributes biopharmaceutical products worldwide. The company offers drugs in various therapeutic classes, such as oncology; cardiovascular; immunoscience; and virology, including human immunodeficiency virus (HIV) infection.
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