Weatherly Asset Management L. P. Purchases Shares of 5,084 Bristol-Myers Squibb (NYSE:BMY)

Weatherly Asset Management L. P. acquired a new position in shares of Bristol-Myers Squibb (NYSE:BMY) in the third quarter, Holdings Channel reports. The institutional investor acquired 5,084 shares of the biopharmaceutical company’s stock, valued at approximately $263,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Capital International Investors grew its holdings in Bristol-Myers Squibb by 14.1% during the 1st quarter. Capital International Investors now owns 70,203,814 shares of the biopharmaceutical company’s stock worth $3,807,153,000 after acquiring an additional 8,675,322 shares during the period. Primecap Management Co. CA grew its stake in Bristol-Myers Squibb by 1.0% during the second quarter. Primecap Management Co. CA now owns 23,498,604 shares of the biopharmaceutical company’s stock worth $975,897,000 after purchasing an additional 225,197 shares during the period. Legal & General Group Plc increased its holdings in Bristol-Myers Squibb by 3.8% in the second quarter. Legal & General Group Plc now owns 20,225,040 shares of the biopharmaceutical company’s stock worth $839,946,000 after purchasing an additional 735,613 shares in the last quarter. Independent Franchise Partners LLP lifted its stake in Bristol-Myers Squibb by 4.0% in the second quarter. Independent Franchise Partners LLP now owns 14,600,621 shares of the biopharmaceutical company’s stock valued at $606,364,000 after buying an additional 556,295 shares during the period. Finally, Pzena Investment Management LLC boosted its holdings in shares of Bristol-Myers Squibb by 15.0% during the 2nd quarter. Pzena Investment Management LLC now owns 14,134,337 shares of the biopharmaceutical company’s stock worth $586,999,000 after buying an additional 1,840,424 shares in the last quarter. 76.41% of the stock is owned by institutional investors and hedge funds.

Bristol-Myers Squibb Stock Performance

BMY stock opened at $54.32 on Friday. 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 has a market cap of $110.13 billion, a PE ratio of -16.66, a P/E/G ratio of 14.62 and a beta of 0.46. The business has a 50 day moving average of $51.26 and a 200-day moving average of $46.57. Bristol-Myers Squibb has a 12-month low of $39.35 and a 12-month high of $56.20.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.49 by $0.31. The firm had revenue of $11.89 billion during the quarter, compared to the consensus estimate of $11.26 billion. Bristol-Myers Squibb had a positive return on equity of 12.51% and a negative net margin of 14.06%. The business’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.00 EPS. As a group, sell-side analysts expect that Bristol-Myers Squibb will post 0.72 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 4th were paid a $0.60 dividend. The ex-dividend date was Friday, October 4th. This represents a $2.40 annualized dividend and a yield of 4.42%. Bristol-Myers Squibb’s payout ratio is -73.62%.

Analyst Ratings Changes

Several research firms have recently weighed in on BMY. BMO Capital Markets lifted their price objective on shares of Bristol-Myers Squibb from $53.00 to $57.00 and gave the company a “market perform” rating in a research note on Friday. Barclays upped their price objective on shares of Bristol-Myers Squibb from $42.00 to $43.00 and gave the company an “underweight” rating in a report on Monday, October 7th. Sanford C. Bernstein started coverage on shares of Bristol-Myers Squibb in a research report on Thursday, October 17th. They set a “market perform” rating and a $56.00 price objective on the stock. Deutsche Bank Aktiengesellschaft dropped their price target on Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating on the stock in a research note on Tuesday, July 23rd. Finally, Jefferies Financial Group raised their price objective on Bristol-Myers Squibb from $49.00 to $51.00 and gave the company a “hold” rating in a research note on Wednesday, August 28th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $53.00.

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.