Profund Advisors LLC increased its stake in Bristol-Myers Squibb Co (NYSE:BMY) by 43.0% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 78,024 shares of the biopharmaceutical company’s stock after purchasing an additional 23,476 shares during the quarter. Profund Advisors LLC’s holdings in Bristol-Myers Squibb were worth $5,008,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BMY. Stonebridge Financial Planning Group LLC acquired a new stake in shares of Bristol-Myers Squibb in the 4th quarter valued at approximately $26,000. grace capital acquired a new stake in shares of Bristol-Myers Squibb in the 4th quarter valued at approximately $26,000. Birch Capital Management LLC bought a new stake in Bristol-Myers Squibb in the 4th quarter valued at $28,000. Wealthcare Capital Management LLC raised its stake in Bristol-Myers Squibb by 47.7% in the 4th quarter. Wealthcare Capital Management LLC now owns 517 shares of the biopharmaceutical company’s stock valued at $33,000 after acquiring an additional 167 shares during the period. Finally, IndexIQ Advisors LLC bought a new stake in Bristol-Myers Squibb in the 4th quarter valued at $36,000. 77.88% of the stock is owned by institutional investors.
A number of equities research analysts recently weighed in on BMY shares. Citigroup upgraded Bristol-Myers Squibb from a “neutral” rating to a “buy” rating and set a $73.00 price target on the stock in a research note on Monday, January 6th. Societe Generale cut Bristol-Myers Squibb from a “buy” rating to a “hold” rating and set a $50.00 price target on the stock. in a research note on Monday. ValuEngine upgraded Bristol-Myers Squibb from a “strong sell” rating to a “sell” rating in a research note on Monday, March 9th. Argus upgraded Bristol-Myers Squibb from a “hold” rating to a “buy” rating and set a $80.00 price target on the stock in a research note on Friday, December 13th. Finally, Gabelli started coverage on Bristol-Myers Squibb in a research note on Wednesday, November 27th. They issued a “buy” rating on the stock. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $62.08.
BMY stock traded up $2.90 during trading hours on Thursday, hitting $52.25. 21,599,571 shares of the stock were exchanged, compared to its average volume of 16,155,833. The company has a current ratio of 1.60, a quick ratio of 1.37 and a debt-to-equity ratio of 0.84. The firm has a market capitalization of $111.16 billion, a P/E ratio of 23.86, a P/E/G ratio of 0.96 and a beta of 0.78. The company has a 50-day simple moving average of $60.09 and a two-hundred day simple moving average of $58.38. Bristol-Myers Squibb Co has a 12 month low of $42.48 and a 12 month high of $68.34.
Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings data on Thursday, February 6th. The biopharmaceutical company reported $1.22 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.34. The firm had revenue of $7.95 billion for the quarter, compared to analysts’ expectations of $6.20 billion. Bristol-Myers Squibb had a return on equity of 31.85% and a net margin of 13.15%. The company’s quarterly revenue was up 33.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.94 EPS. On average, equities research analysts predict that Bristol-Myers Squibb Co will post 6.15 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 1st. Shareholders of record on Friday, April 3rd will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 3.44%. The ex-dividend date is Thursday, April 2nd. Bristol-Myers Squibb’s payout ratio is 38.38%.
Bristol-Myers Squibb Company Profile
Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. The company offers drugs in oncology, immunoscience, cardiovascular, and fibrotic diseases. The company's products include Opdivo, a biological product for anti-cancer indications; Eliquis, an oral inhibitor targeted at stroke prevention in adult patients with non-valvular atrial fibrillation, and the prevention and treatment of venous thromboembolic disorders; and Orencia, a biological product for adult patients with moderately to severely active RA and prostate-specific antigen, as well as reducing signs and symptoms in certain pediatric patients with moderately to severely active polyarticular juvenile idiopathic arthritis.
Further Reading: Hedge Funds Explained
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