Ossiam Acquires 21,234 Shares of Bristol-Myers Squibb (NYSE:BMY)

Ossiam boosted its holdings in Bristol-Myers Squibb (NYSE:BMY) by 31.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 88,183 shares of the biopharmaceutical company’s stock after purchasing an additional 21,234 shares during the period. Ossiam’s holdings in Bristol-Myers Squibb were worth $4,782,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Pitcairn Co. increased its position in shares of Bristol-Myers Squibb by 152.3% in the first quarter. Pitcairn Co. now owns 48,250 shares of the biopharmaceutical company’s stock valued at $2,617,000 after acquiring an additional 29,128 shares during the period. CANADA LIFE ASSURANCE Co increased its position in shares of Bristol-Myers Squibb by 10.1% during the first quarter. CANADA LIFE ASSURANCE Co now owns 2,868,272 shares of the biopharmaceutical company’s stock valued at $155,730,000 after buying an additional 263,109 shares during the period. Lake Street Advisors Group LLC increased its position in shares of Bristol-Myers Squibb by 54.7% during the first quarter. Lake Street Advisors Group LLC now owns 13,530 shares of the biopharmaceutical company’s stock valued at $734,000 after buying an additional 4,784 shares during the period. Bessemer Group Inc. increased its position in shares of Bristol-Myers Squibb by 16.3% during the first quarter. Bessemer Group Inc. now owns 159,066 shares of the biopharmaceutical company’s stock valued at $8,625,000 after buying an additional 22,286 shares during the period. Finally, Delta Asset Management LLC TN grew its holdings in Bristol-Myers Squibb by 11.5% in the first quarter. Delta Asset Management LLC TN now owns 86,361 shares of the biopharmaceutical company’s stock worth $4,683,000 after purchasing an additional 8,897 shares during the period. 76.41% of the stock is owned by institutional investors.

Bristol-Myers Squibb Stock Up 1.4 %

Shares of NYSE:BMY traded up $0.61 during trading hours on Thursday, hitting $45.27. The company’s stock had a trading volume of 21,998,748 shares, compared to its average volume of 15,772,587. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $63.89. The company has a debt-to-equity ratio of 2.99, a current ratio of 1.11 and a quick ratio of 0.99. The company has a market capitalization of $91.77 billion, a price-to-earnings ratio of -14.60, a P/E/G ratio of 15.94 and a beta of 0.44. The firm’s fifty day moving average price is $41.63 and its 200 day moving average price is $46.83.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) EPS for the quarter, beating the consensus estimate of ($4.53) by $0.13. Bristol-Myers Squibb had a negative net margin of 13.50% and a positive return on equity of 8.83%. The business had revenue of $11.87 billion during the quarter, compared to analyst estimates of $11.45 billion. During the same quarter in the previous year, the business posted $2.05 EPS. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. As a group, research analysts expect that Bristol-Myers Squibb will post 0.54 EPS for the current year.

Bristol-Myers Squibb Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Friday, July 5th will be issued a $0.60 dividend. The ex-dividend date is Friday, July 5th. This represents a $2.40 annualized dividend and a dividend yield of 5.30%. Bristol-Myers Squibb’s dividend payout ratio is currently -77.42%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating on the stock in a research report on Tuesday. Cantor Fitzgerald reissued a “neutral” rating and issued a $45.00 price objective on shares of Bristol-Myers Squibb in a research note on Monday. William Blair reissued a “market perform” rating on shares of Bristol-Myers Squibb in a research note on Monday, April 1st. Wells Fargo & Company increased their price objective on shares of Bristol-Myers Squibb from $51.00 to $52.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 18th. Finally, BMO Capital Markets cut their target price on shares of Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating for the company in a research note on Friday, April 26th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Bristol-Myers Squibb currently has an average rating of “Hold” and an average target price of $57.73.

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.