Bristol-Myers Squibb (NYSE:BMY) Stake Boosted by Harbour Investment Management LLC

Harbour Investment Management LLC raised its position in Bristol-Myers Squibb (NYSE:BMY) by 9.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,440 shares of the biopharmaceutical company’s stock after purchasing an additional 3,255 shares during the quarter. Harbour Investment Management LLC’s holdings in Bristol-Myers Squibb were worth $1,937,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Patriot Financial Group Insurance Agency LLC increased its holdings in Bristol-Myers Squibb by 3.8% in the third quarter. Patriot Financial Group Insurance Agency LLC now owns 5,595 shares of the biopharmaceutical company’s stock worth $289,000 after buying an additional 206 shares during the last quarter. Legacy Wealth Asset Management LLC raised its holdings in Bristol-Myers Squibb by 2.1% during the third quarter. Legacy Wealth Asset Management LLC now owns 10,288 shares of the biopharmaceutical company’s stock valued at $532,000 after buying an additional 215 shares in the last quarter. Paragon Capital Management LLC lifted its position in shares of Bristol-Myers Squibb by 1.1% in the first quarter. Paragon Capital Management LLC now owns 20,500 shares of the biopharmaceutical company’s stock worth $1,112,000 after buying an additional 222 shares during the last quarter. OmniStar Financial Group Inc. increased its holdings in shares of Bristol-Myers Squibb by 1.7% during the 2nd quarter. OmniStar Financial Group Inc. now owns 13,316 shares of the biopharmaceutical company’s stock valued at $553,000 after acquiring an additional 224 shares during the last quarter. Finally, LGT Financial Advisors LLC boosted its position in Bristol-Myers Squibb by 42.7% during the second 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 period. 76.41% of the stock is owned by institutional investors and hedge funds.

Bristol-Myers Squibb Price Performance

Shares of BMY traded down $1.45 during mid-day trading on Friday, reaching $54.32. The company had a trading volume of 12,894,832 shares, compared to its average volume of 14,484,395. The company’s 50-day moving average is $51.26 and its 200-day moving average is $46.57. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.16 and a quick ratio of 1.02. The company has a market capitalization of $110.13 billion, a P/E ratio of -16.66, a P/E/G ratio of 14.62 and a beta of 0.46. Bristol-Myers Squibb has a twelve month low of $39.35 and a twelve month high of $56.20.

Bristol-Myers Squibb (NYSE:BMY) last posted its earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share for the quarter, topping the consensus estimate of $1.49 by $0.31. The business had revenue of $11.89 billion for the quarter, compared to analyst estimates of $11.26 billion. Bristol-Myers Squibb had a negative net margin of 14.06% and a positive return on equity of 12.51%. The firm’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.00 EPS. On average, equities analysts anticipate that Bristol-Myers Squibb will post 0.72 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 4th were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 4.42%. The ex-dividend date was Friday, October 4th. Bristol-Myers Squibb’s payout ratio is presently -73.62%.

Analysts Set New Price Targets

BMY has been the subject of several recent analyst reports. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $50.00 price objective on shares of Bristol-Myers Squibb in a report on Friday, October 18th. BMO Capital Markets boosted their price objective on Bristol-Myers Squibb from $53.00 to $57.00 and gave the stock a “market perform” rating in a research report on Friday. Deutsche Bank Aktiengesellschaft lowered their target price on Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating on the stock in a report on Tuesday, July 23rd. StockNews.com raised Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 29th. Finally, Citigroup lowered shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $75.00 to $55.00 in a research report on Friday, October 25th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $53.00.

About Bristol-Myers Squibb

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.