Kerusso Capital Management LLC Purchases New Shares in Bristol-Myers Squibb (NYSE:BMY)

Kerusso Capital Management LLC acquired a new position in Bristol-Myers Squibb (NYSE:BMY) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 44,248 shares of the biopharmaceutical company’s stock, valued at approximately $1,838,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Northwest Financial Advisors bought a new position in shares of Bristol-Myers Squibb in the fourth quarter valued at approximately $27,000. ESL Trust Services LLC bought a new position in Bristol-Myers Squibb in the 1st quarter valued at $27,000. LGT Financial Advisors LLC increased its position in shares of Bristol-Myers Squibb by 42.7% during the 2nd quarter. LGT Financial Advisors LLC now owns 759 shares of the biopharmaceutical company’s stock valued at $32,000 after purchasing an additional 227 shares during the last quarter. MFA Wealth Advisors LLC bought a new stake in shares of Bristol-Myers Squibb during the 2nd quarter worth $39,000. Finally, Fairman Group LLC bought a new stake in shares of Bristol-Myers Squibb during the 4th quarter worth $42,000. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Analyst Upgrades and Downgrades

BMY has been the subject of a number of research analyst reports. Cantor Fitzgerald restated a “neutral” rating and set a $45.00 price objective on shares of Bristol-Myers Squibb in a report on Monday, July 22nd. TD Cowen raised their price target on shares of Bristol-Myers Squibb from $45.00 to $53.00 and gave the stock a “hold” rating in a research note on Monday, August 12th. Barclays lifted their price target on shares of Bristol-Myers Squibb from $41.00 to $42.00 and gave the stock an “underweight” rating in a report on Thursday, August 22nd. StockNews.com raised Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Monday, July 29th. Finally, Deutsche Bank Aktiengesellschaft lowered 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. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $54.67.

Bristol-Myers Squibb Stock Down 2.2 %

BMY stock opened at $48.70 on Friday. Bristol-Myers Squibb has a twelve month low of $39.35 and a twelve month high of $61.42. The firm has a market capitalization of $98.72 billion, a PE ratio of -15.71, a PEG ratio of 12.92 and a beta of 0.46. The company has a quick ratio of 1.02, a current ratio of 1.16 and a debt-to-equity ratio of 2.86. The stock has a 50-day simple moving average of $45.95 and a two-hundred day simple moving average of $46.58.

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

Bristol-Myers Squibb Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Friday, July 5th were given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 4.93%. The ex-dividend date was Friday, July 5th. Bristol-Myers Squibb’s payout ratio is -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.