Choreo LLC Grows Stock Holdings in Bristol-Myers Squibb (NYSE:BMY)

Choreo LLC increased its stake in Bristol-Myers Squibb (NYSE:BMY) by 33.0% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 117,385 shares of the biopharmaceutical company’s stock after buying an additional 29,100 shares during the period. Choreo LLC’s holdings in Bristol-Myers Squibb were worth $4,848,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in BMY. Wedbush Securities Inc. raised its position in shares of Bristol-Myers Squibb by 2.4% in the 2nd quarter. Wedbush Securities Inc. now owns 60,114 shares of the biopharmaceutical company’s stock worth $2,497,000 after purchasing an additional 1,424 shares during the last quarter. Prudential PLC raised its holdings in Bristol-Myers Squibb by 4.3% in the second quarter. Prudential PLC now owns 388,914 shares of the biopharmaceutical company’s stock worth $16,152,000 after buying an additional 16,096 shares during the last quarter. First Foundation Advisors lifted its stake in shares of Bristol-Myers Squibb by 73.0% in the second quarter. First Foundation Advisors now owns 5,656 shares of the biopharmaceutical company’s stock worth $235,000 after buying an additional 2,386 shares in the last quarter. Quest Partners LLC grew its holdings in shares of Bristol-Myers Squibb by 29,957.4% during the second quarter. Quest Partners LLC now owns 40,878 shares of the biopharmaceutical company’s stock valued at $1,698,000 after buying an additional 40,742 shares during the last quarter. Finally, Hudson Edge Investment Partners Inc. raised its holdings in Bristol-Myers Squibb by 5.4% in the 2nd quarter. Hudson Edge Investment Partners Inc. now owns 131,022 shares of the biopharmaceutical company’s stock worth $5,441,000 after acquiring an additional 6,757 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 analysts have commented on BMY shares. Jefferies Financial Group increased their target price 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. Barclays lifted their price objective on Bristol-Myers Squibb from $41.00 to $42.00 and gave the stock an “underweight” rating in a report on Thursday, August 22nd. TD Cowen upped 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 note on Monday, August 12th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $45.00 price target on shares of Bristol-Myers Squibb in a report on Monday, July 22nd. Finally, StockNews.com raised shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Monday, July 29th. Two equities research analysts have rated the stock with a sell rating, thirteen have given 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 a consensus rating of “Hold” and a consensus target price of $54.67.

Bristol-Myers Squibb Price Performance

NYSE BMY opened at $48.50 on Tuesday. The company has a current ratio of 1.16, a quick ratio of 1.02 and a debt-to-equity ratio of 2.86. Bristol-Myers Squibb has a 12 month low of $39.35 and a 12 month high of $61.42. The stock has a market cap of $98.33 billion, a price-to-earnings ratio of -15.65, a PEG ratio of 12.62 and a beta of 0.46. The company’s 50 day moving average is $46.09 and its two-hundred day moving average is $46.53.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Friday, July 26th. The biopharmaceutical company reported $2.07 EPS for the quarter, beating the consensus estimate of $1.64 by $0.43. The firm had revenue of $12.20 billion for the quarter, compared to the consensus estimate of $11.54 billion. Bristol-Myers Squibb had a negative net margin of 14.06% and a positive return on equity of 12.51%. The company’s revenue was up 8.7% on a year-over-year basis. During the same period last year, the firm earned $1.75 EPS. As a group, research analysts anticipate that Bristol-Myers Squibb will post 0.77 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Friday, July 5th were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.95%. The ex-dividend date was Friday, July 5th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is -77.42%.

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.