Occidental Asset Management LLC Raises Stake in Bristol-Myers Squibb (NYSE:BMY)

Occidental Asset Management LLC grew its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 7.5% in the second quarter, Holdings Channel reports. The firm owned 9,135 shares of the biopharmaceutical company’s stock after acquiring an additional 637 shares during the period. Occidental Asset Management LLC’s holdings in Bristol-Myers Squibb were worth $379,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. Norges Bank purchased a new stake in shares of Bristol-Myers Squibb during the fourth quarter valued at about $1,560,524,000. Capital International Investors lifted its position in shares of Bristol-Myers Squibb by 14.1% during the first quarter. Capital International Investors now owns 70,203,814 shares of the biopharmaceutical company’s stock valued at $3,807,153,000 after buying an additional 8,675,322 shares during the last quarter. M&G Plc purchased a new stake in shares of Bristol-Myers Squibb during the first quarter valued at about $392,608,000. Pzena Investment Management LLC lifted its position in shares of Bristol-Myers Squibb by 119.8% during the first quarter. Pzena Investment Management LLC now owns 12,293,913 shares of the biopharmaceutical company’s stock valued at $666,699,000 after buying an additional 6,701,097 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of Bristol-Myers Squibb by 77.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 12,547,823 shares of the biopharmaceutical company’s stock valued at $680,469,000 after buying an additional 5,461,767 shares during the last quarter. 76.41% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. StockNews.com upgraded shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Monday, July 29th. Wells Fargo & Company upped their price objective on shares of Bristol-Myers Squibb from $51.00 to $52.00 and gave the company an “equal weight” rating in a report on Thursday, April 18th. TD Cowen upped their price objective on shares of Bristol-Myers Squibb from $45.00 to $53.00 and gave the company a “hold” rating in a report on Monday. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating on the stock in a report on Tuesday, July 23rd. Finally, BMO Capital Markets cut their price objective on shares of Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating on the stock in a report on Friday, April 26th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $54.86.

Bristol-Myers Squibb Stock Up 0.8 %

NYSE BMY opened at $47.09 on Tuesday. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $63.41. 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 business’s fifty day simple moving average is $43.13 and its 200-day simple moving average is $46.58. The firm has a market cap of $95.46 billion, a PE ratio of -15.19, a P/E/G ratio of 12.51 and a beta of 0.44.

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

Bristol-Myers Squibb Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Friday, July 5th were issued a $0.60 dividend. The ex-dividend date of this dividend was Friday, July 5th. This represents a $2.40 annualized dividend and a yield of 5.10%. Bristol-Myers Squibb’s dividend payout ratio (DPR) 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.