Bristol-Myers Squibb (NYSE:BMY) Position Boosted by Wright Investors Service Inc.

Wright Investors Service Inc. raised its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 44.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 119,781 shares of the biopharmaceutical company’s stock after purchasing an additional 37,055 shares during the period. Bristol-Myers Squibb comprises about 1.6% of Wright Investors Service Inc.’s portfolio, making the stock its 16th largest holding. Wright Investors Service Inc.’s holdings in Bristol-Myers Squibb were worth $6,197,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Capital International Investors grew its stake in shares of Bristol-Myers Squibb by 14.1% in the first quarter. Capital International Investors now owns 70,203,814 shares of the biopharmaceutical company’s stock worth $3,807,153,000 after purchasing an additional 8,675,322 shares in the last quarter. M&G Plc bought a new position in shares of Bristol-Myers Squibb in the first quarter valued at $392,608,000. Pzena Investment Management LLC lifted its position in shares of Bristol-Myers Squibb by 119.8% during the 1st quarter. Pzena Investment Management LLC now owns 12,293,913 shares of the biopharmaceutical company’s stock valued at $666,699,000 after acquiring an additional 6,701,097 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Bristol-Myers Squibb by 77.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,547,823 shares of the biopharmaceutical company’s stock worth $680,469,000 after acquiring an additional 5,461,767 shares in the last quarter. Finally, Van ECK Associates Corp grew its holdings in shares of Bristol-Myers Squibb by 97.2% in the 1st quarter. Van ECK Associates Corp now owns 7,949,173 shares of the biopharmaceutical company’s stock worth $431,084,000 after acquiring an additional 3,918,234 shares during the last quarter. Institutional investors and hedge funds own 76.41% of the company’s stock.

Bristol-Myers Squibb Stock Up 0.7 %

Shares of NYSE BMY traded up $0.36 during trading hours on Friday, hitting $53.96. The stock had a trading volume of 12,831,885 shares, compared to its average volume of 15,080,382. The company has a market capitalization of $109.38 billion, a P/E ratio of -17.41, a P/E/G ratio of 12.96 and a beta of 0.46. The firm’s 50-day moving average price is $49.34 and its two-hundred day moving average price is $46.37. 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 $57.65.

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

Bristol-Myers Squibb Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 4th will be issued a dividend of $0.60 per share. The ex-dividend date is Friday, October 4th. This represents a $2.40 annualized dividend and a yield of 4.45%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently -77.42%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Barclays upped their target price on Bristol-Myers Squibb from $41.00 to $42.00 and gave the company an “underweight” rating in a report on Thursday, August 22nd. Cantor Fitzgerald reissued a “neutral” rating and issued a $50.00 target price on shares of Bristol-Myers Squibb in a research report on Monday, September 16th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating for the company in a research report on Tuesday, July 23rd. BMO Capital Markets reiterated a “market perform” rating and set a $48.00 price objective on shares of Bristol-Myers Squibb in a research report on Monday, September 23rd. Finally, TD Cowen increased their target price on Bristol-Myers Squibb from $45.00 to $53.00 and gave the company a “hold” rating in a report on Monday, August 12th. 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 given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $55.00.

Bristol-Myers Squibb 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.