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

Norden Group LLC raised its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 2,125.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 236,606 shares of the biopharmaceutical company’s stock after purchasing an additional 225,973 shares during the period. Norden Group LLC’s holdings in Bristol-Myers Squibb were worth $12,831,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. McClarren Financial Advisors Inc. raised its position in Bristol-Myers Squibb by 532.7% during the fourth quarter. McClarren Financial Advisors Inc. now owns 1,879 shares of the biopharmaceutical company’s stock valued at $96,000 after purchasing an additional 1,582 shares in the last quarter. Institute for Wealth Management LLC. increased its holdings in shares of Bristol-Myers Squibb by 1.0% in the fourth quarter. Institute for Wealth Management LLC. now owns 30,056 shares of the biopharmaceutical company’s stock worth $1,542,000 after buying an additional 296 shares during the period. Great Diamond Partners LLC increased its holdings in shares of Bristol-Myers Squibb by 9.2% in the fourth quarter. Great Diamond Partners LLC now owns 4,372 shares of the biopharmaceutical company’s stock worth $224,000 after buying an additional 367 shares during the period. Global Assets Advisory LLC purchased a new position in shares of Bristol-Myers Squibb in the first quarter worth about $5,161,000. Finally, Principal Securities Inc. purchased a new position in shares of Bristol-Myers Squibb in the fourth quarter worth about $1,139,000. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on BMY shares. William Blair reissued a “market perform” rating on shares of Bristol-Myers Squibb in a research note on Monday, April 1st. BMO Capital Markets cut their price objective on 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. Wells Fargo & Company lifted their price objective on Bristol-Myers Squibb from $51.00 to $52.00 and gave the company an “equal weight” rating in a research report on Thursday, April 18th. Societe Generale cut Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research report on Monday, March 11th. Finally, Barclays lowered 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. One equities 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 stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $60.00.

Bristol-Myers Squibb Stock Performance

Shares of BMY stock opened at $40.06 on Thursday. Bristol-Myers Squibb has a 1 year low of $39.63 and a 1 year high of $65.38. The firm has a fifty day moving average price of $42.64 and a 200-day moving average price of $47.97. The company has a debt-to-equity ratio of 2.99, a current ratio of 1.11 and a quick ratio of 0.99.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings data 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 the consensus estimate of $11.45 billion. Bristol-Myers Squibb had a negative net margin of 13.50% and a positive return on equity of 8.83%. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.05 EPS. As a group, sell-side analysts anticipate that Bristol-Myers Squibb will post 0.58 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Friday, July 5th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 5.99%. The ex-dividend date is Friday, July 5th. Bristol-Myers Squibb’s dividend payout ratio is currently -77.42%.

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.