Thoroughbred Financial Services LLC Grows Stock Holdings in Bristol-Myers Squibb (NYSE:BMY)

Thoroughbred Financial Services LLC boosted its stake in Bristol-Myers Squibb (NYSE:BMY) by 9.5% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,353 shares of the biopharmaceutical company’s stock after purchasing an additional 901 shares during the quarter. Thoroughbred Financial Services LLC’s holdings in Bristol-Myers Squibb were worth $430,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Capital International Investors raised its position in Bristol-Myers Squibb by 14.1% in the 1st quarter. Capital International Investors now owns 70,203,814 shares of the biopharmaceutical company’s stock worth $3,807,153,000 after purchasing an additional 8,675,322 shares during the period. Primecap Management Co. CA boosted its stake in Bristol-Myers Squibb by 14.6% in the fourth quarter. Primecap Management Co. CA now owns 23,534,378 shares of the biopharmaceutical company’s stock valued at $1,207,549,000 after acquiring an additional 2,998,228 shares in the last quarter. Pzena Investment Management LLC boosted its stake in Bristol-Myers Squibb by 15.0% in the second quarter. Pzena Investment Management LLC now owns 14,134,337 shares of the biopharmaceutical company’s stock valued at $586,999,000 after acquiring an additional 1,840,424 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Bristol-Myers Squibb by 77.1% in 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 acquiring an additional 5,461,767 shares in the last quarter. Finally, M&G Plc raised its holdings in shares of Bristol-Myers Squibb by 34.1% in the second quarter. M&G Plc now owns 9,751,027 shares of the biopharmaceutical company’s stock worth $409,543,000 after buying an additional 2,480,515 shares during the last quarter. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Jefferies Financial Group raised their target price on shares of Bristol-Myers Squibb from $49.00 to $51.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $50.00 price objective on shares of Bristol-Myers Squibb in a report on Monday. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating on the stock in a research report on Tuesday, July 23rd. TD Cowen lifted their target price 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. Finally, StockNews.com upgraded shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 29th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Bristol-Myers Squibb has an average rating of “Hold” and an average price target of $55.00.

Bristol-Myers Squibb Trading Up 1.8 %

Shares of Bristol-Myers Squibb stock opened at $50.00 on Tuesday. The company has a fifty day simple moving average of $46.99 and a 200-day simple moving average of $46.47. Bristol-Myers Squibb has a 12-month low of $39.35 and a 12-month high of $59.46. The company has a current ratio of 1.16, a quick ratio of 1.02 and a debt-to-equity ratio of 2.86. The stock has a market cap of $101.36 billion, a price-to-earnings ratio of -16.13, a PEG ratio of 12.59 and a beta of 0.46.

Bristol-Myers Squibb (NYSE:BMY) last issued its earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.64 by $0.43. Bristol-Myers Squibb had a negative net margin of 14.06% and a positive return on equity of 12.51%. The business had revenue of $12.20 billion during the quarter, compared to analysts’ expectations of $11.54 billion. During the same quarter in the prior year, the business posted $1.75 EPS. The company’s revenue for the quarter was up 8.7% on a year-over-year basis. On average, equities analysts forecast that Bristol-Myers Squibb will post 0.77 EPS 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. Investors of record on Friday, October 4th will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 4.80%. The ex-dividend date of this dividend is Friday, October 4th. Bristol-Myers Squibb’s dividend payout ratio 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.