AQR Capital Management LLC Purchases 327,824 Shares of Bristol-Myers Squibb (NYSE:BMY)

AQR Capital Management LLC grew its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 14.0% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,676,296 shares of the biopharmaceutical company’s stock after buying an additional 327,824 shares during the quarter. AQR Capital Management LLC owned 0.13% of Bristol-Myers Squibb worth $111,147,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of BMY. Armistice Capital LLC bought a new position in Bristol-Myers Squibb in the 2nd quarter valued at $20,386,000. AlTi Global Inc. grew its holdings in shares of Bristol-Myers Squibb by 795.6% in the second quarter. AlTi Global Inc. now owns 107,268 shares of the biopharmaceutical company’s stock worth $4,455,000 after purchasing an additional 95,291 shares during the last quarter. Point72 Europe London LLP purchased a new position in Bristol-Myers Squibb in the 2nd quarter worth about $3,285,000. Point72 Hong Kong Ltd bought a new stake in Bristol-Myers Squibb during the 2nd quarter valued at about $10,727,000. Finally, Fred Alger Management LLC boosted its position in Bristol-Myers Squibb by 9.9% in the 2nd quarter. Fred Alger Management LLC now owns 41,496 shares of the biopharmaceutical company’s stock valued at $1,723,000 after buying an additional 3,726 shares during the period. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on BMY shares. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $50.00 price target on shares of Bristol-Myers Squibb in a research note on Monday, September 16th. BMO Capital Markets reiterated a “market perform” rating and issued a $48.00 target price on shares of Bristol-Myers Squibb in a report on Monday. Deutsche Bank Aktiengesellschaft dropped their price target on Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating on the stock in a research report on Tuesday, July 23rd. TD Cowen upped their price objective on shares of Bristol-Myers Squibb from $45.00 to $53.00 and gave the stock a “hold” rating in a research note on Monday, August 12th. Finally, Jefferies Financial Group raised their target price on shares of Bristol-Myers Squibb from $49.00 to $51.00 and gave the company a “hold” rating in a research report on Wednesday, August 28th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $55.00.

Bristol-Myers Squibb Price Performance

NYSE BMY opened at $50.12 on Friday. The firm’s fifty day simple moving average is $48.21 and its two-hundred day simple moving average is $46.38. The firm has a market capitalization of $101.60 billion, a P/E ratio of -16.17, a P/E/G ratio of 12.96 and a beta of 0.46. The company has a current ratio of 1.16, a quick ratio of 1.02 and a debt-to-equity ratio of 2.86. Bristol-Myers Squibb has a 12-month low of $39.35 and a 12-month high of $58.75.

Bristol-Myers Squibb (NYSE:BMY) last announced its 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. The company had revenue of $12.20 billion for 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% compared to the same quarter last year. During the same period in the prior year, the company posted $1.75 EPS. Analysts forecast that Bristol-Myers Squibb will post 0.77 EPS for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

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 4.79%. The ex-dividend date of this dividend is Friday, October 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -77.42%.

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.