Grimes & Company Inc. Purchases 846 Shares of Bristol-Myers Squibb (NYSE:BMY)

Grimes & Company Inc. grew its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 0.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 445,508 shares of the biopharmaceutical company’s stock after purchasing an additional 846 shares during the period. Grimes & Company Inc.’s holdings in Bristol-Myers Squibb were worth $23,051,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. ESL Trust Services LLC bought a new stake in shares of Bristol-Myers Squibb in the 1st quarter valued at about $27,000. ORG Wealth Partners LLC bought a new position in Bristol-Myers Squibb during the 3rd quarter valued at approximately $34,000. LGT Financial Advisors LLC raised its position in 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. Redmont Wealth Advisors LLC bought a new position in Bristol-Myers Squibb during the 1st quarter valued at approximately $47,000. Finally, MFA Wealth Advisors LLC bought a new position in Bristol-Myers Squibb during the 2nd quarter valued at approximately $39,000. Institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Stock Up 0.1 %

Shares of Bristol-Myers Squibb stock traded up $0.07 during midday trading on Thursday, hitting $53.13. The company had a trading volume of 140,589 shares, compared to its average volume of 14,555,416. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.02 and a current ratio of 1.16. The stock has a market capitalization of $107.70 billion, a P/E ratio of -17.12, a P/E/G ratio of 13.75 and a beta of 0.46. The company has a 50 day moving average of $50.63 and a 200 day moving average of $46.39. Bristol-Myers Squibb has a 52-week low of $39.35 and a 52-week high of $56.77.

Bristol-Myers Squibb (NYSE:BMY) last issued its earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 EPS for the quarter, beating 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 the consensus estimate of $11.54 billion. During the same period last year, the business posted $1.75 EPS. The company’s revenue was up 8.7% compared to the same quarter last year. On average, equities analysts predict 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 announced 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 annualized dividend and a yield of 4.52%. Bristol-Myers Squibb’s dividend payout ratio is -77.42%.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Sanford C. Bernstein assumed coverage on Bristol-Myers Squibb in a research report on Thursday, October 17th. They set a “market perform” rating and a $56.00 price target for the company. UBS Group upped their price target on Bristol-Myers Squibb from $50.00 to $54.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft reduced their target price on Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating on the stock in a report on Tuesday, July 23rd. Barclays upped their target price on Bristol-Myers Squibb from $42.00 to $43.00 and gave the stock an “underweight” rating in a report on Monday, October 7th. Finally, Jefferies Financial Group upped their target price on Bristol-Myers Squibb from $49.00 to $51.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Bristol-Myers Squibb currently has a consensus rating of “Hold” and an average price target of $53.20.

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.