Bristol-Myers Squibb (NYSE:BMY) Shares Purchased by Texas Permanent School Fund Corp

Texas Permanent School Fund Corp boosted its holdings in Bristol-Myers Squibb (NYSE:BMY) by 0.1% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 420,603 shares of the biopharmaceutical company’s stock after buying an additional 489 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Bristol-Myers Squibb were worth $22,809,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in BMY. Northwest Financial Advisors acquired a new position in shares of Bristol-Myers Squibb in the fourth quarter worth $27,000. Accordant Advisory Group Inc bought a new stake in Bristol-Myers Squibb in the first quarter worth $31,000. Pacific Capital Wealth Advisors Inc. bought a new stake in Bristol-Myers Squibb in the fourth quarter worth $34,000. Turtle Creek Wealth Advisors LLC bought a new stake in Bristol-Myers Squibb in the fourth quarter worth $40,000. Finally, Wetzel Investment Advisors Inc. bought a new stake in Bristol-Myers Squibb in the fourth quarter worth $40,000. Institutional investors and hedge funds own 76.41% of the company’s stock.

Analysts Set New Price Targets

BMY has been the subject of a number of recent research reports. BMO Capital Markets decreased their price objective on shares of Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating for the company in a report on Friday, April 26th. Barclays decreased their price objective on shares of Bristol-Myers Squibb from $43.00 to $41.00 and set an “equal weight” rating for the company in a report on Wednesday. William Blair reiterated a “market perform” rating on shares of Bristol-Myers Squibb in a report on Monday, April 1st. StockNews.com cut shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 27th. Finally, Wells Fargo & Company upped their price target on shares of Bristol-Myers Squibb from $51.00 to $52.00 and gave the company an “equal weight” rating in a report on Thursday, April 18th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $59.50.

Bristol-Myers Squibb Price Performance

BMY stock traded down $0.38 during trading on Thursday, reaching $40.75. 17,883,034 shares of the company were exchanged, compared to its average volume of 15,683,951. The company has a 50-day moving average of $42.05 and a two-hundred day moving average of $47.52. The company has a market capitalization of $82.59 billion, a price-to-earnings ratio of -13.25, a P/E/G ratio of 13.68 and a beta of 0.44. Bristol-Myers Squibb has a twelve month low of $39.35 and a twelve month high of $65.38. The company has a debt-to-equity ratio of 2.99, a current ratio of 1.11 and a quick ratio of 0.99.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share (EPS) for the quarter, beating the consensus estimate of ($4.53) by $0.13. Bristol-Myers Squibb had a negative net margin of 13.50% and a positive return on equity of 8.83%. The firm had revenue of $11.87 billion during the quarter, compared to analysts’ expectations of $11.45 billion. During the same period in the prior year, the company posted $2.05 EPS. The company’s revenue was up 4.7% on a year-over-year basis. As a group, equities analysts predict that Bristol-Myers Squibb will post 0.58 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 Thursday, August 1st. Investors of record on Friday, July 5th will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 5.89%. The ex-dividend date of this dividend is Friday, July 5th. Bristol-Myers Squibb’s dividend payout ratio 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.