Excalibur Management Corp Grows Position in Bristol-Myers Squibb (NYSE:BMY)

Excalibur Management Corp increased its holdings in Bristol-Myers Squibb (NYSE:BMY) by 24.4% in the second quarter, Holdings Channel reports. The fund owned 31,641 shares of the biopharmaceutical company’s stock after purchasing an additional 6,199 shares during the quarter. Excalibur Management Corp’s holdings in Bristol-Myers Squibb were worth $1,314,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Global Assets Advisory LLC bought a new stake in shares of Bristol-Myers Squibb in the 1st quarter valued at about $5,161,000. Lincoln National Corp boosted its holdings in shares of Bristol-Myers Squibb by 7.7% in the 1st quarter. Lincoln National Corp now owns 42,894 shares of the biopharmaceutical company’s stock valued at $2,326,000 after buying an additional 3,052 shares in the last quarter. Chapin Davis Inc. boosted its holdings in shares of Bristol-Myers Squibb by 22.6% in the 1st quarter. Chapin Davis Inc. now owns 22,544 shares of the biopharmaceutical company’s stock valued at $1,223,000 after buying an additional 4,159 shares in the last quarter. Sierra Summit Advisors LLC bought a new stake in shares of Bristol-Myers Squibb in the 4th quarter valued at about $755,000. Finally, Scotia Capital Inc. boosted its holdings in shares of Bristol-Myers Squibb by 48.6% in the 4th quarter. Scotia Capital Inc. now owns 236,724 shares of the biopharmaceutical company’s stock valued at $12,146,000 after buying an additional 77,471 shares in the last quarter. 76.41% of the stock is owned by hedge funds and other institutional investors.

Bristol-Myers Squibb Trading Up 1.8 %

Shares of BMY opened at $50.00 on Tuesday. Bristol-Myers Squibb has a 52-week low of $39.35 and a 52-week high of $59.46. 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 firm’s fifty day moving average is $46.99 and its two-hundred day moving average is $46.47. The stock has a market cap of $101.36 billion, a PE ratio of -16.13, a price-to-earnings-growth ratio of 12.59 and a beta of 0.46.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share for the quarter, beating the consensus estimate of $1.64 by $0.43. The firm had revenue of $12.20 billion for 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 12.51%. The company’s revenue was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.75 EPS. Research analysts forecast that Bristol-Myers Squibb will post 0.77 earnings per share for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 4th will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.40 dividend on an annualized basis and a yield of 4.80%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -77.42%.

Wall Street Analyst Weigh In

Several brokerages recently commented on BMY. TD Cowen increased their price objective on shares of Bristol-Myers Squibb from $45.00 to $53.00 and gave the company a “hold” rating in a research report on Monday, August 12th. Barclays raised their price target on shares of Bristol-Myers Squibb from $41.00 to $42.00 and gave the stock an “underweight” rating in a research report on Thursday, August 22nd. Deutsche Bank Aktiengesellschaft reduced their price target 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. Jefferies Financial Group raised their price target on shares of Bristol-Myers Squibb from $49.00 to $51.00 and gave the stock a “hold” rating in a research report on Wednesday, August 28th. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $50.00 price target on shares of Bristol-Myers Squibb in a research report on Monday. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Bristol-Myers Squibb has an average rating of “Hold” and a consensus target price of $55.00.

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.