BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Has $16.12 Million Stock Position in Bristol-Myers Squibb (NYSE:BMY)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in Bristol-Myers Squibb (NYSE:BMY) by 59.3% in the second quarter, HoldingsChannel reports. The fund owned 388,221 shares of the biopharmaceutical company’s stock after purchasing an additional 144,467 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Bristol-Myers Squibb were worth $16,123,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of BMY. ESL Trust Services LLC bought a new position in shares of Bristol-Myers Squibb in the first quarter valued at $27,000. LGT Financial Advisors LLC boosted its stake in Bristol-Myers Squibb by 42.7% during the 2nd quarter. LGT Financial Advisors LLC now owns 759 shares of the biopharmaceutical company’s stock valued at $32,000 after purchasing an additional 227 shares during the last quarter. MFA Wealth Advisors LLC bought a new stake in Bristol-Myers Squibb during the 2nd quarter worth approximately $39,000. Fairman Group LLC bought a new stake in Bristol-Myers Squibb during the fourth quarter worth $42,000. Finally, Beach Investment Counsel Inc. PA purchased a new stake in shares of Bristol-Myers Squibb in the second quarter valued at about $42,000. 76.41% of the stock is owned by institutional investors and hedge funds.

Bristol-Myers Squibb Stock Performance

NYSE BMY opened at $50.95 on Wednesday. The company’s 50 day simple moving average is $48.07 and its two-hundred day simple moving average is $46.36. The stock has a market capitalization of $103.28 billion, a PE ratio of -16.44, a P/E/G ratio of 12.59 and a beta of 0.46. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.16 and a quick ratio of 1.02. Bristol-Myers Squibb has a 1 year low of $39.35 and a 1 year high of $59.28.

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. Analysts predict that Bristol-Myers Squibb will post 0.77 earnings per share 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. Investors of record on Friday, October 4th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 4.71%. The ex-dividend date is Friday, October 4th. Bristol-Myers Squibb’s dividend payout ratio is currently -77.42%.

Wall Street Analyst Weigh In

BMY has been the topic of a number of research analyst reports. Jefferies Financial Group boosted their target price on Bristol-Myers Squibb from $49.00 to $51.00 and gave the stock a “hold” rating in a research note on Wednesday, August 28th. Barclays boosted their price objective on Bristol-Myers Squibb from $41.00 to $42.00 and gave the stock an “underweight” rating in a research report on Thursday, August 22nd. BMO Capital Markets reaffirmed a “market perform” rating and issued a $48.00 price objective on shares of Bristol-Myers Squibb in a research report on Monday. TD Cowen lifted their price target on shares of Bristol-Myers Squibb from $45.00 to $53.00 and gave the stock a “hold” rating in a report on Monday, August 12th. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $50.00 price objective on shares of Bristol-Myers Squibb in a report on Monday, September 16th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price 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.