Scientech Research LLC Invests $1.25 Million in Bristol-Myers Squibb (NYSE:BMY)

Scientech Research LLC purchased a new position in shares of Bristol-Myers Squibb (NYSE:BMY) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 30,081 shares of the biopharmaceutical company’s stock, valued at approximately $1,249,000.

Other large investors also recently made changes to their positions in the company. ESL Trust Services LLC acquired a new position in shares of Bristol-Myers Squibb during the 1st quarter worth about $27,000. LGT Financial Advisors LLC lifted its position in shares of Bristol-Myers Squibb by 42.7% during the 2nd quarter. LGT Financial Advisors LLC now owns 759 shares of the biopharmaceutical company’s stock worth $32,000 after purchasing an additional 227 shares during the last quarter. MFA Wealth Advisors LLC acquired a new position in shares of Bristol-Myers Squibb during the 2nd quarter worth about $39,000. Fairman Group LLC acquired a new position in shares of Bristol-Myers Squibb during the 4th quarter worth about $42,000. Finally, Beach Investment Counsel Inc. PA acquired a new position in shares of Bristol-Myers Squibb during the 2nd quarter worth about $42,000. Institutional investors own 76.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. StockNews.com raised Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 29th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $48.00 price target on shares of Bristol-Myers Squibb in a report on Monday, September 23rd. Deutsche Bank Aktiengesellschaft cut their price target on Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating for the company in a report on Tuesday, July 23rd. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $50.00 price target on shares of Bristol-Myers Squibb in a report on Monday, September 16th. Finally, Jefferies Financial Group upped their price target on Bristol-Myers Squibb from $49.00 to $51.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $55.00.

Bristol-Myers Squibb Trading Up 1.6 %

BMY stock opened at $50.92 on Friday. Bristol-Myers Squibb has a 1-year low of $39.35 and a 1-year high of $58.46. The firm has a market cap of $103.22 billion, a P/E ratio of -16.43, a P/E/G ratio of 12.96 and a beta of 0.46. The business’s 50 day moving average is $48.53 and its 200-day moving average is $46.38. 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 (NYSE:BMY) last released its quarterly earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 EPS for the quarter, topping analysts’ consensus estimates of $1.64 by $0.43. Bristol-Myers Squibb had a positive return on equity of 12.51% and a negative net margin of 14.06%. The business had revenue of $12.20 billion for the quarter, compared to analyst estimates of $11.54 billion. During the same period in the prior year, the company earned $1.75 EPS. Bristol-Myers Squibb’s revenue for the quarter was up 8.7% on a year-over-year basis. Equities analysts anticipate that Bristol-Myers Squibb will post 0.77 earnings per share for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 4th will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.40 dividend on an annualized basis and a yield of 4.71%. Bristol-Myers Squibb’s dividend payout ratio is -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.