Rhumbline Advisers Grows Stake in Bristol-Myers Squibb (NYSE:BMY)

Rhumbline Advisers lifted its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 1.2% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,820,181 shares of the biopharmaceutical company’s stock after purchasing an additional 46,882 shares during the quarter. Rhumbline Advisers’ holdings in Bristol-Myers Squibb were worth $158,652,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Northwest Financial Advisors acquired a new position in shares of Bristol-Myers Squibb during the fourth quarter worth about $27,000. ESL Trust Services LLC bought a new stake in Bristol-Myers Squibb in the first quarter valued at about $27,000. Pacific Capital Wealth Advisors Inc. bought a new stake in Bristol-Myers Squibb in the fourth quarter valued at about $34,000. MFA Wealth Advisors LLC bought a new position in shares of Bristol-Myers Squibb during the second quarter valued at approximately $39,000. Finally, Fairman Group LLC bought a new position in shares of Bristol-Myers Squibb during the fourth quarter valued at approximately $42,000. Institutional investors and hedge funds own 76.41% of the company’s stock.

Bristol-Myers Squibb Price Performance

Shares of NYSE BMY opened at $50.54 on Wednesday. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.02 and a current ratio of 1.16. The firm’s 50-day simple moving average is $45.49 and its 200 day simple moving average is $46.56. Bristol-Myers Squibb has a fifty-two week low of $39.35 and a fifty-two week high of $62.00. The stock has a market cap of $102.45 billion, a price-to-earnings ratio of -16.30, a PEG ratio of 12.92 and a beta of 0.44.

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

Bristol-Myers Squibb Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Friday, July 5th were issued a dividend of $0.60 per share. The ex-dividend date of this dividend was Friday, July 5th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.75%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is -77.42%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on BMY shares. Cantor Fitzgerald reiterated a “neutral” rating and set a $45.00 price objective on shares of Bristol-Myers Squibb in a research report on Monday, July 22nd. Barclays upped their price target on Bristol-Myers Squibb from $41.00 to $42.00 and gave the company an “underweight” rating in a report on Thursday, August 22nd. StockNews.com raised Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Monday, July 29th. Deutsche Bank Aktiengesellschaft cut their target price on shares of Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating on the stock in a research note on Tuesday, July 23rd. Finally, TD Cowen boosted 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. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $54.67.

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.