IQ EQ FUND MANAGEMENT IRELAND Ltd Purchases 26,000 Shares of Bristol-Myers Squibb (NYSE:BMY)

IQ EQ FUND MANAGEMENT IRELAND Ltd raised its position in Bristol-Myers Squibb (NYSE:BMY) by 36.5% in the 3rd quarter, Holdings Channel reports. The firm owned 97,200 shares of the biopharmaceutical company’s stock after buying an additional 26,000 shares during the quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in Bristol-Myers Squibb were worth $5,029,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Fisher Asset Management LLC boosted its position in shares of Bristol-Myers Squibb by 129.6% during the 4th quarter. Fisher Asset Management LLC now owns 223,431 shares of the biopharmaceutical company’s stock valued at $11,464,000 after acquiring an additional 126,122 shares during the last quarter. NBC Securities Inc. lifted its position in Bristol-Myers Squibb by 26.5% during the first quarter. NBC Securities Inc. now owns 15,118 shares of the biopharmaceutical company’s stock valued at $819,000 after purchasing an additional 3,169 shares during the last quarter. Massmutual Trust Co. FSB ADV grew its stake in Bristol-Myers Squibb by 4.0% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 6,221 shares of the biopharmaceutical company’s stock worth $337,000 after buying an additional 240 shares in the last quarter. Perpetual Ltd increased its holdings in shares of Bristol-Myers Squibb by 63.6% in the 1st quarter. Perpetual Ltd now owns 31,566 shares of the biopharmaceutical company’s stock worth $1,712,000 after buying an additional 12,266 shares during the last quarter. Finally, Legacy Private Trust Co. raised its position in shares of Bristol-Myers Squibb by 3.5% during the 1st quarter. Legacy Private Trust Co. now owns 11,679 shares of the biopharmaceutical company’s stock valued at $633,000 after buying an additional 400 shares in the last quarter. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Bristol-Myers Squibb Stock Performance

Shares of NYSE:BMY opened at $53.37 on Thursday. 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 company has a 50-day moving average price of $50.10 and a 200-day moving average price of $46.37. The company has a market cap of $108.19 billion, a price-to-earnings ratio of -17.22, a price-to-earnings-growth ratio of 13.75 and a beta of 0.46. Bristol-Myers Squibb has a 12 month low of $39.35 and a 12 month high of $57.65.

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

Bristol-Myers Squibb Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 4th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 4.50%. The ex-dividend date is Friday, October 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently -77.42%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft cut their target price 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. Barclays increased their price objective on Bristol-Myers Squibb from $42.00 to $43.00 and gave the company an “underweight” rating in a research report on Monday, October 7th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $48.00 target price on shares of Bristol-Myers Squibb in a research note on Monday, September 23rd. UBS Group lifted their price target on shares of Bristol-Myers Squibb from $50.00 to $54.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $50.00 price objective on shares of Bristol-Myers Squibb in a research note on Monday, September 16th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $53.00.

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.