Signature Estate & Investment Advisors LLC Makes New $208,000 Investment in Bristol-Myers Squibb (NYSE:BMY)

Signature Estate & Investment Advisors LLC bought a new stake in Bristol-Myers Squibb (NYSE:BMY) in the second quarter, HoldingsChannel.com reports. The firm bought 5,017 shares of the biopharmaceutical company’s stock, valued at approximately $208,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Norges Bank acquired a new position in Bristol-Myers Squibb in the 4th quarter valued at $1,560,524,000. Capital International Investors raised its stake in Bristol-Myers Squibb by 14.1% in the first quarter. Capital International Investors now owns 70,203,814 shares of the biopharmaceutical company’s stock valued at $3,807,153,000 after purchasing an additional 8,675,322 shares in the last quarter. M&G Plc bought a new stake in Bristol-Myers Squibb during the first quarter worth about $392,608,000. Pzena Investment Management LLC grew its stake in Bristol-Myers Squibb by 119.8% during the first quarter. Pzena Investment Management LLC now owns 12,293,913 shares of the biopharmaceutical company’s stock worth $666,699,000 after buying an additional 6,701,097 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in Bristol-Myers Squibb by 77.1% in the 1st 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 buying an additional 5,461,767 shares during the period. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BMY has been the subject of a number of recent analyst reports. StockNews.com raised shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Monday, July 29th. Deutsche Bank Aktiengesellschaft reduced their target price on Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating on the stock in a report on Tuesday, July 23rd. Barclays boosted their price target on Bristol-Myers Squibb from $41.00 to $42.00 and gave the stock an “underweight” rating in a report on Thursday, August 22nd. Cantor Fitzgerald restated a “neutral” rating and issued a $45.00 target price on shares of Bristol-Myers Squibb in a research report on Monday, July 22nd. Finally, TD Cowen upped their price objective on Bristol-Myers Squibb from $45.00 to $53.00 and gave the company a “hold” rating in a research note on Monday, August 12th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $54.93.

Bristol-Myers Squibb Stock Down 0.2 %

NYSE BMY opened at $48.12 on Wednesday. The stock has a market capitalization of $97.54 billion, a PE ratio of -15.52, a PEG ratio of 12.51 and a beta of 0.44. Bristol-Myers Squibb has a 1 year low of $39.35 and a 1 year high of $63.41. The business’s 50-day moving average is $44.52 and its 200 day moving average is $46.56. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.16 and a quick ratio of 0.99.

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

Bristol-Myers Squibb Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Friday, July 5th were issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.99%. The ex-dividend date of this dividend was Friday, July 5th. Bristol-Myers Squibb’s payout ratio is -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.