D.A. Davidson & CO. Raises Stake in Bristol-Myers Squibb (NYSE:BMY)

D.A. Davidson & CO. raised its stake in Bristol-Myers Squibb (NYSE:BMY) by 9.9% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 415,115 shares of the biopharmaceutical company’s stock after buying an additional 37,495 shares during the period. D.A. Davidson & CO.’s holdings in Bristol-Myers Squibb were worth $17,240,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. ESL Trust Services LLC purchased a new position in shares of Bristol-Myers Squibb during the 1st quarter worth $27,000. Northwest Financial Advisors purchased a new position in shares of Bristol-Myers Squibb during the 4th quarter worth $27,000. Pacific Capital Wealth Advisors Inc. purchased a new position in shares of Bristol-Myers Squibb during the 4th quarter worth $34,000. Fairman Group LLC purchased a new position in shares of Bristol-Myers Squibb during the 4th quarter worth $42,000. Finally, Redmont Wealth Advisors LLC purchased a new position in shares of Bristol-Myers Squibb during the 1st quarter worth $47,000. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on BMY. Cantor Fitzgerald reiterated a “neutral” rating and set a $45.00 price target on shares of Bristol-Myers Squibb in a report on Monday, July 22nd. TD Cowen increased their target price on Bristol-Myers Squibb from $45.00 to $53.00 and gave the stock a “hold” rating in a research note on Monday, August 12th. Deutsche Bank Aktiengesellschaft decreased their target price on Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating on the stock in a research note on Tuesday, July 23rd. StockNews.com raised Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 29th. Finally, Barclays increased their target price on Bristol-Myers Squibb from $41.00 to $42.00 and gave the stock an “underweight” rating in a research note on Thursday, August 22nd. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $54.67.

Bristol-Myers Squibb Stock Up 0.5 %

Shares of NYSE BMY traded up $0.23 during midday trading on Friday, hitting $49.95. 9,594,794 shares of the company’s stock were exchanged, compared to its average volume of 11,841,427. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.16 and a quick ratio of 1.02. Bristol-Myers Squibb has a twelve month low of $39.35 and a twelve month high of $63.03. The company has a market cap of $101.27 billion, a PE ratio of -16.11, a P/E/G ratio of 12.92 and a beta of 0.44. The firm’s fifty day simple moving average is $45.17 and its 200-day simple moving average is $46.57.

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

Bristol-Myers Squibb Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Friday, July 5th were paid a dividend of $0.60 per share. The ex-dividend date was Friday, July 5th. This represents a $2.40 dividend on an annualized basis and a yield of 4.80%. Bristol-Myers Squibb’s dividend payout ratio is presently -77.42%.

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.