Park Place Capital Corp Raises Holdings in Bristol-Myers Squibb (NYSE:BMY)

Park Place Capital Corp lifted its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 139.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 8,739 shares of the biopharmaceutical company’s stock after purchasing an additional 5,083 shares during the quarter. Park Place Capital Corp’s holdings in Bristol-Myers Squibb were worth $474,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank bought a new stake in shares of Bristol-Myers Squibb during the 4th quarter valued at about $1,560,524,000. Van ECK Associates Corp raised its holdings in Bristol-Myers Squibb by 792.6% in the fourth quarter. Van ECK Associates Corp now owns 4,030,939 shares of the biopharmaceutical company’s stock worth $206,828,000 after buying an additional 3,579,324 shares during the last quarter. Primecap Management Co. CA raised its holdings in Bristol-Myers Squibb by 14.6% in 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 last quarter. Pacer Advisors Inc. raised its holdings in shares of Bristol-Myers Squibb by 48.0% during the fourth quarter. Pacer Advisors Inc. now owns 7,830,948 shares of the biopharmaceutical company’s stock valued at $401,806,000 after purchasing an additional 2,540,360 shares during the last quarter. Finally, Franklin Resources Inc. raised its holdings in shares of Bristol-Myers Squibb by 36.7% during the fourth quarter. Franklin Resources Inc. now owns 9,357,199 shares of the biopharmaceutical company’s stock valued at $480,118,000 after purchasing an additional 2,510,134 shares during the last quarter. 76.41% of the stock is currently owned by institutional investors.

Bristol-Myers Squibb Stock Down 0.6 %

NYSE:BMY opened at $41.30 on Tuesday. Bristol-Myers Squibb has a fifty-two week low of $39.63 and a fifty-two week high of $65.38. The company has a debt-to-equity ratio of 2.99, a quick ratio of 0.99 and a current ratio of 1.11. The company’s 50-day simple moving average is $42.97 and its 200-day simple moving average is $48.11.

Bristol-Myers Squibb (NYSE:BMY) last released its earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) EPS for the quarter, topping analysts’ consensus estimates of ($4.53) by $0.13. The company had revenue of $11.87 billion during the quarter, compared to analysts’ expectations of $11.45 billion. Bristol-Myers Squibb had a negative net margin of 13.50% and a positive return on equity of 8.83%. Bristol-Myers Squibb’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period last year, the business earned $2.05 EPS. On average, equities analysts forecast that Bristol-Myers Squibb will post 0.58 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Friday, July 5th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 5.81%. The ex-dividend date is Friday, July 5th. Bristol-Myers Squibb’s dividend payout ratio is presently -77.42%.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Barclays reduced their target price on shares of Bristol-Myers Squibb from $51.00 to $43.00 and set an “equal weight” rating for the company in a report on Friday, April 26th. Societe Generale lowered shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research report on Monday, March 11th. StockNews.com lowered shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 27th. BMO Capital Markets lowered their price objective on shares of Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating for the company in a research report on Friday, April 26th. Finally, William Blair reiterated a “market perform” rating on shares of Bristol-Myers Squibb in a research report on Monday, April 1st. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $60.00.

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.