TD Asset Management Inc Acquires 42,682 Shares of Bristol-Myers Squibb (NYSE:BMY)

TD Asset Management Inc lifted its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 2.7% during the first quarter, HoldingsChannel reports. The firm owned 1,648,245 shares of the biopharmaceutical company’s stock after purchasing an additional 42,682 shares during the quarter. TD Asset Management Inc’s holdings in Bristol-Myers Squibb were worth $89,384,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Sound Income Strategies LLC raised its stake in Bristol-Myers Squibb by 69.5% in the 4th quarter. Sound Income Strategies LLC now owns 1,639 shares of the biopharmaceutical company’s stock valued at $84,000 after acquiring an additional 672 shares during the period. Strategic Investment Advisors MI bought a new stake in Bristol-Myers Squibb in the 4th quarter valued at about $423,000. BKM Wealth Management LLC bought a new stake in Bristol-Myers Squibb in the 4th quarter valued at about $258,000. Bruce G. Allen Investments LLC bought a new stake in Bristol-Myers Squibb in the 4th quarter valued at about $141,000. Finally, Grassi Investment Management raised its stake in Bristol-Myers Squibb by 0.3% in the 4th quarter. Grassi Investment Management now owns 108,860 shares of the biopharmaceutical company’s stock valued at $5,586,000 after acquiring an additional 300 shares during the period. 76.41% of the stock is currently owned by institutional investors.

Bristol-Myers Squibb Price Performance

BMY traded down $0.56 during midday trading on Friday, hitting $41.83. The stock had a trading volume of 2,888,134 shares, compared to its average volume of 15,648,693. The company has a market cap of $84.79 billion, a P/E ratio of -13.49, a price-to-earnings-growth ratio of 15.74 and a beta of 0.44. The business has a fifty day moving average of $41.73 and a 200 day moving average of $47.12. The company has a debt-to-equity ratio of 2.99, a quick ratio of 0.99 and a current ratio of 1.11. Bristol-Myers Squibb has a 1 year low of $39.35 and a 1 year high of $65.38.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share for the quarter, beating the consensus estimate of ($4.53) by $0.13. Bristol-Myers Squibb had a positive return on equity of 8.83% and a negative net margin of 13.50%. The firm had revenue of $11.87 billion during the quarter, compared to the consensus estimate of $11.45 billion. During the same quarter in the previous year, the company posted $2.05 earnings per share. The business’s revenue was up 4.7% on a year-over-year basis. As a group, equities analysts forecast that Bristol-Myers Squibb will post 0.55 earnings per share for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Friday, July 5th will be given a $0.60 dividend. The ex-dividend date of this dividend is Friday, July 5th. This represents a $2.40 annualized dividend and a yield of 5.74%. Bristol-Myers Squibb’s payout ratio is currently -77.42%.

Analyst Upgrades and Downgrades

BMY has been the subject of a number of recent analyst reports. BMO Capital Markets reduced their target price on Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating for the company in a report on Friday, April 26th. Wells Fargo & Company lifted their target price on Bristol-Myers Squibb from $51.00 to $52.00 and gave the company an “equal weight” rating in a report on Thursday, April 18th. Barclays reduced their target price on Bristol-Myers Squibb from $43.00 to $41.00 and set an “equal weight” rating for the company in a report on Wednesday, July 10th. StockNews.com lowered Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 27th. Finally, William Blair reaffirmed a “market perform” rating on shares of Bristol-Myers Squibb in a report on Monday, April 1st. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $59.07.

About Bristol-Myers Squibb

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.