Bristol-Myers Squibb (NYSE:BMY) Shares Bought by MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH grew its holdings in Bristol-Myers Squibb (NYSE:BMY) by 339.4% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 252,423 shares of the biopharmaceutical company’s stock after buying an additional 194,981 shares during the quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in Bristol-Myers Squibb were worth $13,060,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. ESL Trust Services LLC acquired a new stake in shares of Bristol-Myers Squibb in the first quarter valued at about $27,000. LGT Financial Advisors LLC boosted its stake in shares of Bristol-Myers Squibb by 42.7% during the 2nd quarter. LGT Financial Advisors LLC now owns 759 shares of the biopharmaceutical company’s stock worth $32,000 after acquiring an additional 227 shares in the last quarter. MFA Wealth Advisors LLC acquired a new stake in shares of Bristol-Myers Squibb in the 2nd quarter worth approximately $39,000. Fairman Group LLC purchased a new position in Bristol-Myers Squibb in the 4th quarter valued at approximately $42,000. Finally, Beach Investment Counsel Inc. PA acquired a new position in Bristol-Myers Squibb during the second quarter worth $42,000. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on BMY shares. UBS Group raised their price target on Bristol-Myers Squibb from $50.00 to $54.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. StockNews.com upgraded shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 29th. Barclays increased their price target on shares of Bristol-Myers Squibb from $42.00 to $43.00 and gave the company an “underweight” rating in a research report on Monday, October 7th. Deutsche Bank Aktiengesellschaft cut their price objective on Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating for the company in a research report on Tuesday, July 23rd. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $50.00 target price on shares of Bristol-Myers Squibb in a report on Monday, September 16th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Bristol-Myers Squibb currently has an average rating of “Hold” and an average target price of $53.00.

Bristol-Myers Squibb Price Performance

BMY stock opened at $52.20 on Monday. The firm has a market cap of $105.81 billion, a P/E ratio of -16.84, a price-to-earnings-growth ratio of 13.75 and a beta of 0.46. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.02 and a current ratio of 1.16. Bristol-Myers Squibb has a 1 year low of $39.35 and a 1 year high of $57.65. The stock has a 50-day simple moving average of $49.75 and a 200-day simple moving average of $46.34.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings data on Friday, July 26th. The biopharmaceutical company reported $2.07 EPS for the quarter, topping 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 firm had revenue of $12.20 billion for the quarter, compared to analyst estimates of $11.54 billion. During the same quarter in the previous year, the business posted $1.75 EPS. The firm’s revenue was up 8.7% compared to the same quarter last year. On average, equities analysts predict that Bristol-Myers Squibb will post 0.77 earnings per share for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 4th will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 4.60%. The ex-dividend date is Friday, October 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently -77.42%.

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.