Douglas Lane & Associates LLC lifted its stake in Bristol-Myers Squibb Co (NYSE:BMY) by 3.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,224,968 shares of the biopharmaceutical company’s stock after acquiring an additional 36,722 shares during the quarter. Bristol-Myers Squibb makes up approximately 1.5% of Douglas Lane & Associates LLC’s investment portfolio, making the stock its 20th largest position. Douglas Lane & Associates LLC owned approximately 0.07% of Bristol-Myers Squibb worth $76,046,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. CSat Investment Advisory L.P. acquired a new position in Bristol-Myers Squibb during the second quarter worth approximately $113,000. Landaas & Co. WI ADV acquired a new position in Bristol-Myers Squibb during the second quarter worth approximately $131,000. Mount Yale Investment Advisors LLC acquired a new position in Bristol-Myers Squibb during the first quarter worth approximately $179,000. Pure Financial Advisors Inc. acquired a new position in Bristol-Myers Squibb during the third quarter worth approximately $201,000. Finally, Hollencrest Capital Management acquired a new position in Bristol-Myers Squibb during the third quarter worth approximately $216,000. 72.28% of the stock is currently owned by institutional investors and hedge funds.
Shares of Bristol-Myers Squibb stock traded down $0.17 on Tuesday, hitting $62.73. The stock had a trading volume of 46,894 shares, compared to its average volume of 7,327,275. Bristol-Myers Squibb Co has a twelve month low of $49.96 and a twelve month high of $70.05. The company has a current ratio of 1.40, a quick ratio of 1.28 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $101.47 billion, a price-to-earnings ratio of 20.77, a PEG ratio of 1.70 and a beta of 0.98.
Bristol-Myers Squibb (NYSE:BMY) last posted its earnings results on Thursday, July 26th. The biopharmaceutical company reported $1.01 EPS for the quarter, beating the consensus estimate of $0.87 by $0.14. Bristol-Myers Squibb had a return on equity of 42.58% and a net margin of 1.74%. The company had revenue of $5.70 billion for the quarter, compared to the consensus estimate of $5.48 billion. During the same quarter in the prior year, the business earned $0.74 earnings per share. The firm’s revenue for the quarter was up 10.9% on a year-over-year basis. As a group, equities research analysts predict that Bristol-Myers Squibb Co will post 3.62 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, November 1st. Stockholders of record on Friday, October 5th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.55%. The ex-dividend date is Thursday, October 4th. Bristol-Myers Squibb’s payout ratio is 53.16%.
A number of equities analysts have weighed in on BMY shares. BMO Capital Markets reissued a “hold” rating and set a $47.00 price target on shares of Bristol-Myers Squibb in a research report on Thursday, June 21st. ValuEngine raised Bristol-Myers Squibb from a “sell” rating to a “hold” rating in a research report on Saturday, July 14th. Jefferies Financial Group set a $58.00 price target on Bristol-Myers Squibb and gave the stock a “hold” rating in a research report on Sunday, July 15th. Credit Suisse Group boosted their price target on Bristol-Myers Squibb from $58.00 to $61.00 and gave the stock a “neutral” rating in a research report on Friday, July 27th. Finally, SunTrust Banks reissued a “buy” rating and set a $67.00 price target on shares of Bristol-Myers Squibb in a research report on Tuesday, July 31st. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and seven have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $62.95.
Bristol-Myers Squibb Company Profile
Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, and distributes biopharmaceutical products worldwide. The company offers drugs in various therapeutic classes, such as oncology; cardiovascular; immunoscience; and virology, including human immunodeficiency virus (HIV) infection.
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