Headlands Technologies LLC Acquires Shares of 119,357 Bristol-Myers Squibb (NYSE:BMY)

Headlands Technologies LLC purchased a new stake in shares of Bristol-Myers Squibb (NYSE:BMY) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 119,357 shares of the biopharmaceutical company’s stock, valued at approximately $4,957,000.

Several other hedge funds have also recently modified their holdings of the business. ESL Trust Services LLC bought a new stake in Bristol-Myers Squibb during the first quarter valued at about $27,000. LGT Financial Advisors LLC grew its position in shares of Bristol-Myers Squibb by 42.7% during the 2nd quarter. LGT Financial Advisors LLC now owns 759 shares of the biopharmaceutical company’s stock valued at $32,000 after acquiring an additional 227 shares during the period. Fairman Group LLC purchased a new position in shares of Bristol-Myers Squibb in the fourth quarter worth about $42,000. Redmont Wealth Advisors LLC purchased a new stake in Bristol-Myers Squibb in the 1st quarter valued at about $47,000. Finally, Accent Capital Management LLC purchased a new stake in Bristol-Myers Squibb during the 4th quarter worth about $46,000. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on BMY. TD Cowen raised their price objective on shares of Bristol-Myers Squibb from $45.00 to $53.00 and gave the company a “hold” rating in a research report on Monday, August 12th. Cantor Fitzgerald reiterated a “neutral” rating and set a $45.00 price objective on shares of Bristol-Myers Squibb in a research note on Monday, July 22nd. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating for the company in a report on Tuesday, July 23rd. Barclays boosted their price target on shares of Bristol-Myers Squibb from $41.00 to $42.00 and gave the company an “underweight” rating in a report on Thursday, August 22nd. Finally, Jefferies Financial Group increased their price target on Bristol-Myers Squibb from $49.00 to $51.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. Two 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 stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $54.67.

Bristol-Myers Squibb Stock Down 0.6 %

NYSE:BMY traded down $0.27 during trading hours on Tuesday, hitting $48.23. 321,855 shares of the company traded hands, compared to its average volume of 15,189,506. Bristol-Myers Squibb has a one year low of $39.35 and a one year high of $61.42. The firm’s 50-day simple moving average is $46.09 and its 200-day simple moving average is $46.53. The company has a market cap of $97.78 billion, a PE ratio of -15.65, a PEG ratio of 12.62 and a beta of 0.46. The company has a quick ratio of 1.02, a current ratio of 1.16 and a debt-to-equity ratio of 2.86.

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

Bristol-Myers Squibb Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Friday, July 5th were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 4.98%. The ex-dividend date was Friday, July 5th. Bristol-Myers Squibb’s dividend payout ratio is currently -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.