Price Capital Management Inc. acquired a new position in Bristol-Myers Squibb Co (NYSE:BMY) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 26,298 shares of the biopharmaceutical company’s stock, valued at approximately $1,633,000. Bristol-Myers Squibb comprises about 0.6% of Price Capital Management Inc.’s holdings, making the stock its 9th largest holding.
A number of other hedge funds have also recently bought and sold shares of the stock. CSat Investment Advisory L.P. acquired a new position in shares of Bristol-Myers Squibb during the 2nd quarter worth approximately $113,000. Landaas & Co. WI ADV acquired a new position in shares of Bristol-Myers Squibb during the 2nd quarter worth approximately $131,000. Selective Wealth Management acquired a new position in shares of Bristol-Myers Squibb during the 3rd quarter worth approximately $184,000. LFA Lugano Financial Advisors SA boosted its holdings in shares of Bristol-Myers Squibb by 85.8% during the 3rd quarter. LFA Lugano Financial Advisors SA now owns 3,207 shares of the biopharmaceutical company’s stock worth $199,000 after purchasing an additional 1,481 shares during the last quarter. Finally, Pure Financial Advisors Inc. acquired a new position in shares of Bristol-Myers Squibb during the 3rd quarter worth approximately $201,000. Institutional investors own 72.29% of the company’s stock.
BMY has been the topic of several recent research reports. Barclays boosted their target price on Bristol-Myers Squibb from $55.00 to $58.00 and gave the stock an “equal weight” rating in a report on Friday, October 12th. Credit Suisse Group set a $61.00 target price on Bristol-Myers Squibb and gave the stock a “hold” rating in a report on Sunday, October 14th. Zacks Investment Research upgraded Bristol-Myers Squibb from a “hold” rating to a “buy” rating and set a $70.00 target price on the stock in a report on Friday, October 5th. ValuEngine cut Bristol-Myers Squibb from a “hold” rating to a “sell” rating in a report on Friday, October 19th. Finally, Jefferies Financial Group set a $58.00 target price on Bristol-Myers Squibb and gave the stock a “hold” rating in a report on Sunday, July 15th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $62.42.
Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings data on Thursday, October 25th. The biopharmaceutical company reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $0.91 by $0.18. Bristol-Myers Squibb had a return on equity of 47.89% and a net margin of 6.50%. The firm had revenue of $5.69 billion for the quarter, compared to analysts’ expectations of $5.72 billion. As a group, analysts anticipate that Bristol-Myers Squibb Co will post 3.87 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 1st. Investors of record on Friday, October 5th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 3.22%. The ex-dividend date of this dividend is Thursday, October 4th. Bristol-Myers Squibb’s dividend payout ratio is presently 53.16%.
Bristol-Myers Squibb Profile
Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, and distributes biopharmaceutical products worldwide. The company offers drugs in various therapeutic classes, such as oncology; cardiovascular; immunoscience; and virology, including human immunodeficiency virus (HIV) infection.
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