iA Global Asset Management Inc. Increases Holdings in Bristol-Myers Squibb (NYSE:BMY)

iA Global Asset Management Inc. boosted its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 2.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 114,573 shares of the biopharmaceutical company’s stock after purchasing an additional 2,623 shares during the period. iA Global Asset Management Inc.’s holdings in Bristol-Myers Squibb were worth $6,213,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. ESL Trust Services LLC bought a new stake in Bristol-Myers Squibb during the 1st quarter valued at approximately $27,000. Northwest Financial Advisors bought a new stake in Bristol-Myers Squibb during the 4th quarter valued at approximately $27,000. Accordant Advisory Group Inc bought a new stake in Bristol-Myers Squibb during the 1st quarter valued at approximately $31,000. Pacific Capital Wealth Advisors Inc. bought a new stake in Bristol-Myers Squibb during the 4th quarter valued at approximately $34,000. Finally, Turtle Creek Wealth Advisors LLC bought a new stake in Bristol-Myers Squibb during the 4th quarter valued at approximately $40,000. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Wall Street Analysts Forecast Growth

BMY has been the topic of several research reports. Barclays cut Bristol-Myers Squibb from an “overweight” rating to an “equal weight” rating and set a $41.00 price objective on the stock. in a research report on Monday. Deutsche Bank Aktiengesellschaft dropped their price target on Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating on the stock in a research report on Tuesday, July 23rd. StockNews.com upgraded shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Monday. BMO Capital Markets decreased their price objective 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. Finally, Cantor Fitzgerald restated a “neutral” rating and issued a $45.00 price objective on shares of Bristol-Myers Squibb in a report on Monday, July 22nd. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $55.79.

Bristol-Myers Squibb Stock Performance

BMY traded up $0.61 during mid-day trading on Thursday, reaching $48.17. 11,986,351 shares of the company traded hands, compared to its average volume of 15,970,849. The company has a quick ratio of 0.99, a current ratio of 1.16 and a debt-to-equity ratio of 2.86. The stock has a market capitalization of $97.66 billion, a P/E ratio of -15.53, a P/E/G ratio of 12.58 and a beta of 0.44. Bristol-Myers Squibb has a 52-week low of $39.35 and a 52-week high of $63.41. The company’s fifty day moving average price is $42.11 and its 200-day moving average price is $46.75.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings data on Friday, July 26th. The biopharmaceutical company reported $2.07 EPS for the quarter, topping the consensus estimate of $1.64 by $0.43. The firm had revenue of $12.20 billion during the quarter, compared to analyst estimates of $11.54 billion. Bristol-Myers Squibb had a positive return on equity of 12.51% and a negative net margin of 14.06%. Bristol-Myers Squibb’s revenue was up 8.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.75 EPS. On average, sell-side analysts expect that Bristol-Myers Squibb will post 0.78 EPS for the current year.

Bristol-Myers Squibb Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Friday, July 5th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 4.98%. The ex-dividend date of this dividend is Friday, July 5th. Bristol-Myers Squibb’s dividend payout ratio is currently -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.