Miramar Capital LLC Increases Stock Position in Bristol-Myers Squibb (NYSE:BMY)

Miramar Capital LLC boosted its holdings in Bristol-Myers Squibb (NYSE:BMY) by 41.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,876 shares of the biopharmaceutical company’s stock after buying an additional 2,600 shares during the period. Miramar Capital LLC’s holdings in Bristol-Myers Squibb were worth $369,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of BMY. Gryphon Financial Partners LLC lifted its holdings in Bristol-Myers Squibb by 23.5% during the 4th quarter. Gryphon Financial Partners LLC now owns 5,235 shares of the biopharmaceutical company’s stock worth $280,000 after purchasing an additional 995 shares in the last quarter. Clearbridge Investments LLC increased its position in shares of Bristol-Myers Squibb by 12.0% during the fourth quarter. Clearbridge Investments LLC now owns 125,980 shares of the biopharmaceutical company’s stock valued at $6,464,000 after buying an additional 13,534 shares during the period. Sachetta LLC purchased a new stake in shares of Bristol-Myers Squibb in the fourth quarter worth about $57,000. CreativeOne Wealth LLC boosted its position in shares of Bristol-Myers Squibb by 34.7% in the fourth quarter. CreativeOne Wealth LLC now owns 17,827 shares of the biopharmaceutical company’s stock valued at $915,000 after acquiring an additional 4,592 shares during the period. Finally, Assetmark Inc. grew its stake in Bristol-Myers Squibb by 10.9% during the fourth quarter. Assetmark Inc. now owns 155,684 shares of the biopharmaceutical company’s stock valued at $7,988,000 after acquiring an additional 15,329 shares in the last quarter. Institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Price Performance

Shares of Bristol-Myers Squibb stock opened at $49.74 on Thursday. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.02 and a current ratio of 1.16. Bristol-Myers Squibb has a 52-week low of $39.35 and a 52-week high of $59.46. The company has a fifty day moving average of $47.34 and a 200-day moving average of $46.48. The stock has a market capitalization of $100.83 billion, a price-to-earnings ratio of -16.05, a price-to-earnings-growth ratio of 12.59 and a beta of 0.46.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings results 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. Bristol-Myers Squibb had a negative net margin of 14.06% and a positive return on equity of 12.51%. The business had revenue of $12.20 billion during the quarter, compared to analyst estimates of $11.54 billion. During the same period in the prior year, the business posted $1.75 earnings per share. The company’s revenue was up 8.7% on a year-over-year basis. Equities research analysts expect that Bristol-Myers Squibb will post 0.77 EPS for the current year.

Bristol-Myers Squibb Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 4th will be given a $0.60 dividend. The ex-dividend date is Friday, October 4th. This represents a $2.40 annualized dividend and a yield of 4.83%. Bristol-Myers Squibb’s payout ratio is currently -77.42%.

Analyst Ratings Changes

Several research firms have issued reports on BMY. Jefferies Financial Group increased their target price on shares of Bristol-Myers Squibb from $49.00 to $51.00 and gave the stock a “hold” rating in a research note on Wednesday, August 28th. StockNews.com raised Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 29th. Cantor Fitzgerald restated a “neutral” rating and set a $50.00 target price on shares of Bristol-Myers Squibb in a research report on Monday. Deutsche Bank Aktiengesellschaft lowered their price target on Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating on the stock in a report on Tuesday, July 23rd. Finally, Barclays boosted their price objective on Bristol-Myers Squibb from $41.00 to $42.00 and gave the stock an “underweight” rating in a report on Thursday, August 22nd. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $55.00.

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.