Bellevue Group AG Acquires Shares of 23,436 Bristol-Myers Squibb (NYSE:BMY)

Bellevue Group AG acquired a new stake in shares of Bristol-Myers Squibb (NYSE:BMY) during the first quarter, Holdings Channel reports. The fund acquired 23,436 shares of the biopharmaceutical company’s stock, valued at approximately $1,271,000.

Other large investors have also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. increased its holdings in shares of Bristol-Myers Squibb by 3.5% in the 4th quarter. Assenagon Asset Management S.A. now owns 98,394 shares of the biopharmaceutical company’s stock worth $5,049,000 after acquiring an additional 3,313 shares during the period. Ritholtz Wealth Management raised its position in Bristol-Myers Squibb by 4.8% in the fourth quarter. Ritholtz Wealth Management now owns 15,665 shares of the biopharmaceutical company’s stock worth $804,000 after acquiring an additional 720 shares in the last quarter. Meadow Creek Wealth Advisors LLC bought a new position in shares of Bristol-Myers Squibb during the 4th quarter valued at about $222,000. Inscription Capital LLC boosted its position in shares of Bristol-Myers Squibb by 16.2% during the 4th quarter. Inscription Capital LLC now owns 6,160 shares of the biopharmaceutical company’s stock valued at $316,000 after purchasing an additional 860 shares in the last quarter. Finally, Relyea Zuckerberg Hanson LLC boosted its position in shares of Bristol-Myers Squibb by 11.2% during the 4th quarter. Relyea Zuckerberg Hanson LLC now owns 6,015 shares of the biopharmaceutical company’s stock valued at $309,000 after purchasing an additional 604 shares in the last quarter. 76.41% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

BMY has been the subject of several research reports. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of 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. BMO Capital Markets decreased 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 report on Friday, April 26th. Wells Fargo & Company raised their target price on shares of Bristol-Myers Squibb from $51.00 to $52.00 and gave the stock an “equal weight” rating in a report on Thursday, April 18th. StockNews.com cut shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 27th. Finally, Barclays cut shares of Bristol-Myers Squibb from an “overweight” rating to an “equal weight” rating and set a $41.00 target price for the company. in a report on Monday. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Bristol-Myers Squibb currently has a consensus rating of “Hold” and an average price target of $55.79.

Bristol-Myers Squibb Stock Down 1.5 %

BMY traded down $0.74 during trading on Monday, reaching $49.71. 13,064,012 shares of the stock were exchanged, compared to its average volume of 15,898,742. Bristol-Myers Squibb has a twelve month low of $39.35 and a twelve month high of $63.41. The stock has a market cap of $100.77 billion, a P/E ratio of -16.35, a price-to-earnings-growth ratio of 17.25 and a beta of 0.44. The stock’s 50 day moving average price is $41.76 and its two-hundred day moving average price is $46.76. The company has a debt-to-equity ratio of 2.99, a quick ratio of 0.99 and a current ratio of 1.11.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings data on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share for the quarter, topping the consensus estimate of $1.64 by $0.43. The business had revenue of $12.20 billion during the quarter, compared to analysts’ expectations of $11.54 billion. Bristol-Myers Squibb had a negative net margin of 14.06% and a positive return on equity of 11.52%. Bristol-Myers Squibb’s revenue was up 8.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.75 earnings per share. Equities analysts expect that Bristol-Myers Squibb will post 0.59 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Friday, July 5th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 4.83%. The ex-dividend date is Friday, July 5th. Bristol-Myers Squibb’s dividend payout ratio 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.