Optimum Investment Advisors raised its position in shares of Bristol-Myers Squibb Co (NYSE:BMY) by 2.6% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 49,584 shares of the biopharmaceutical company’s stock after purchasing an additional 1,250 shares during the quarter. Bristol-Myers Squibb accounts for about 0.8% of Optimum Investment Advisors’ investment portfolio, making the stock its 25th biggest holding. Optimum Investment Advisors’ holdings in Bristol-Myers Squibb were worth $2,514,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in BMY. Horizon Investments LLC bought a new stake in Bristol-Myers Squibb during the 1st quarter valued at about $277,000. First Trust Advisors LP increased its stake in Bristol-Myers Squibb by 91.3% during the 1st quarter. First Trust Advisors LP now owns 929,973 shares of the biopharmaceutical company’s stock valued at $44,369,000 after purchasing an additional 443,962 shares in the last quarter. Sphera Funds Management LTD. grew its stake in shares of Bristol-Myers Squibb by 39.7% in the first quarter. Sphera Funds Management LTD. now owns 879,900 shares of the biopharmaceutical company’s stock worth $41,980,000 after acquiring an additional 249,900 shares during the period. Amundi Pioneer Asset Management Inc. grew its stake in shares of Bristol-Myers Squibb by 12.4% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 2,542,397 shares of the biopharmaceutical company’s stock worth $121,298,000 after acquiring an additional 280,458 shares during the period. Finally, Bath Savings Trust Co grew its stake in shares of Bristol-Myers Squibb by 3.4% in the second quarter. Bath Savings Trust Co now owns 17,108 shares of the biopharmaceutical company’s stock worth $776,000 after acquiring an additional 568 shares during the period. Institutional investors and hedge funds own 80.25% of the company’s stock.
Shares of BMY traded up $0.40 on Friday, reaching $52.82. The company’s stock had a trading volume of 5,966,796 shares, compared to its average volume of 9,915,286. The company has a debt-to-equity ratio of 1.51, a current ratio of 3.88 and a quick ratio of 3.75. The stock has a market capitalization of $84.78 billion, a P/E ratio of 13.27, a PEG ratio of 2.33 and a beta of 0.72. The stock’s 50 day simple moving average is $49.86 and its two-hundred day simple moving average is $47.17. Bristol-Myers Squibb Co has a 12-month low of $42.48 and a 12-month high of $57.53.
Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings data on Thursday, July 25th. The biopharmaceutical company reported $1.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.12. The company had revenue of $6.27 billion for the quarter, compared to the consensus estimate of $6.10 billion. Bristol-Myers Squibb had a net margin of 26.14% and a return on equity of 47.63%. The firm’s revenue was up 10.0% compared to the same quarter last year. During the same quarter last year, the firm posted $1.01 earnings per share. Analysts expect that Bristol-Myers Squibb Co will post 4.29 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 4th will be issued a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date is Thursday, October 3rd. Bristol-Myers Squibb’s payout ratio is 41.21%.
BMY has been the subject of a number of research analyst reports. JPMorgan Chase & Co. set a $62.00 price target on shares of Bristol-Myers Squibb and gave the stock a “buy” rating in a research note on Friday, September 13th. Bank of America initiated coverage on shares of Bristol-Myers Squibb in a research note on Wednesday. They issued a “buy” rating and a $60.00 price target for the company. Atlantic Securities upgraded shares of Bristol-Myers Squibb from a “neutral” rating to an “overweight” rating and set a $63.00 price target for the company in a research note on Wednesday, August 14th. ValuEngine upgraded shares of Bristol-Myers Squibb from a “sell” rating to a “hold” rating in a research note on Monday, October 7th. Finally, TheStreet upgraded shares of Bristol-Myers Squibb from a “c+” rating to a “b-” rating in a research note on Wednesday, September 18th. Seven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $56.53.
In other Bristol-Myers Squibb news, Director Robert J. Bertolini acquired 11,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The shares were bought at an average price of $44.72 per share, with a total value of $491,920.00. Following the completion of the acquisition, the director now owns 11,397 shares in the company, valued at approximately $509,673.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.13% of the company’s stock.
About Bristol-Myers Squibb
Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. The company offers drugs in oncology, immunoscience, cardiovascular, and fibrotic diseases. The company's products include Opdivo, a biological product for anti-cancer indications; Eliquis, an oral inhibitor targeted at stroke prevention in adult patients with non-valvular atrial fibrillation, and the prevention and treatment of venous thromboembolic disorders; and Orencia, a biological product for adult patients with moderately to severely active RA and prostate-specific antigen, as well as reducing signs and symptoms in certain pediatric patients with moderately to severely active polyarticular juvenile idiopathic arthritis.
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