Rovin Capital UT ADV Purchases 7,546 Shares of Bristol-Myers Squibb (NYSE:BMY)

Rovin Capital UT ADV lifted its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 141.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,870 shares of the biopharmaceutical company’s stock after purchasing an additional 7,546 shares during the quarter. Rovin Capital UT ADV’s holdings in Bristol-Myers Squibb were worth $534,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Capital International Investors boosted its position in shares of Bristol-Myers Squibb by 14.1% during the 1st quarter. Capital International Investors now owns 70,203,814 shares of the biopharmaceutical company’s stock valued at $3,807,153,000 after acquiring an additional 8,675,322 shares in the last quarter. Norges Bank bought a new stake in shares of Bristol-Myers Squibb in the 4th quarter valued at approximately $1,560,524,000. Primecap Management Co. CA raised its holdings in shares of Bristol-Myers Squibb by 14.6% in the 4th quarter. Primecap Management Co. CA now owns 23,534,378 shares of the biopharmaceutical company’s stock worth $1,207,549,000 after buying an additional 2,998,228 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Bristol-Myers Squibb by 7.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 16,959,807 shares of the biopharmaceutical company’s stock worth $870,198,000 after buying an additional 1,246,066 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its position in Bristol-Myers Squibb by 77.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 12,547,823 shares of the biopharmaceutical company’s stock valued at $680,469,000 after acquiring an additional 5,461,767 shares during the period. 76.41% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. StockNews.com raised Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Monday, July 29th. Barclays lowered shares of Bristol-Myers Squibb from an “overweight” rating to an “equal weight” rating and set a $41.00 price target on the stock. in a research report on Monday, July 29th. Deutsche Bank Aktiengesellschaft cut their target price on shares of Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating for the company in a research note on Tuesday, July 23rd. TD Cowen increased their price target on Bristol-Myers Squibb from $45.00 to $53.00 and gave the stock a “hold” rating in a research report on Monday, August 12th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $45.00 price objective on shares of Bristol-Myers Squibb in a research report on Monday, July 22nd. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $54.86.

Bristol-Myers Squibb Stock Up 0.5 %

Shares of NYSE:BMY traded up $0.25 during mid-day trading on Friday, reaching $49.36. 14,161,770 shares of the stock were exchanged, compared to its average volume of 15,904,074. The stock’s 50 day simple moving average is $43.74 and its 200-day simple moving average is $46.60. Bristol-Myers Squibb has a one year low of $39.35 and a one year high of $63.41. The company has a market cap of $100.06 billion, a P/E ratio of -15.92, a P/E/G ratio of 12.51 and a beta of 0.44. The company has a quick ratio of 0.99, a current ratio of 1.16 and a debt-to-equity ratio of 2.86.

Bristol-Myers Squibb (NYSE:BMY) last released its earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share for the quarter, beating analysts’ consensus estimates of $1.64 by $0.43. Bristol-Myers Squibb had a negative net margin of 14.06% and a positive return on equity of 12.51%. The business had revenue of $12.20 billion during the quarter, compared to the consensus estimate of $11.54 billion. During the same quarter last year, the firm earned $1.75 earnings per share. The firm’s revenue for the quarter was up 8.7% compared to the same quarter last year. As a group, equities research analysts predict that Bristol-Myers Squibb will post 0.77 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Friday, July 5th were issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 4.86%. The ex-dividend date of this dividend was Friday, July 5th. Bristol-Myers Squibb’s payout ratio is presently -77.42%.

Bristol-Myers Squibb Company 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.