Park Avenue Securities LLC Grows Position in Bristol-Myers Squibb (NYSE:BMY)

Park Avenue Securities LLC raised its stake in Bristol-Myers Squibb (NYSE:BMY) by 30.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 52,511 shares of the biopharmaceutical company’s stock after buying an additional 12,363 shares during the quarter. Park Avenue Securities LLC’s holdings in Bristol-Myers Squibb were worth $2,848,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. Norges Bank purchased a new position in shares of Bristol-Myers Squibb during the 4th quarter worth approximately $1,560,524,000. Primecap Management Co. CA boosted its position in shares of Bristol-Myers Squibb by 14.6% during the fourth quarter. Primecap Management Co. CA now owns 23,534,378 shares of the biopharmaceutical company’s stock worth $1,207,549,000 after buying an additional 2,998,228 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Bristol-Myers Squibb by 7.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 16,959,807 shares of the biopharmaceutical company’s stock valued at $870,198,000 after buying an additional 1,246,066 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Bristol-Myers Squibb by 1.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 11,361,717 shares of the biopharmaceutical company’s stock valued at $582,970,000 after buying an additional 134,815 shares during the period. Finally, Franklin Resources Inc. lifted its stake in Bristol-Myers Squibb by 36.7% during the 4th quarter. Franklin Resources Inc. now owns 9,357,199 shares of the biopharmaceutical company’s stock worth $480,118,000 after acquiring an additional 2,510,134 shares in the last quarter. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Stock Performance

NYSE BMY opened at $41.93 on Friday. The company has a fifty day moving average of $43.60 and a two-hundred day moving average of $48.45. 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 $39.63 and a 1 year high of $65.85.

Bristol-Myers Squibb (NYSE:BMY) last announced its earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($4.53) by $0.13. The firm had revenue of $11.87 billion during the quarter, compared to analysts’ expectations of $11.45 billion. Bristol-Myers Squibb had a positive return on equity of 8.83% and a negative net margin of 13.50%. The business’s revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the firm earned $2.05 EPS. On average, equities analysts anticipate that Bristol-Myers Squibb will post 0.59 earnings per share for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Friday, July 5th will be given a $0.60 dividend. The ex-dividend date is Friday, July 5th. This represents a $2.40 annualized dividend and a yield of 5.72%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is -77.42%.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. BMO Capital Markets reduced their price target on shares of Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating on the stock in a research report on Friday, April 26th. StockNews.com cut shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research report on Monday, June 17th. Barclays reduced their price objective on Bristol-Myers Squibb from $51.00 to $43.00 and set an “equal weight” rating on the stock in a research note on Friday, April 26th. William Blair reissued a “market perform” rating on shares of Bristol-Myers Squibb in a research note on Monday, April 1st. Finally, Societe Generale lowered Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research report on Monday, March 11th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $60.00.

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.