Mirae Asset Global Investments Co. Ltd. Raises Holdings in Bristol-Myers Squibb (NYSE:BMY)

Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 184.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,177,752 shares of the biopharmaceutical company’s stock after buying an additional 763,213 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned approximately 0.06% of Bristol-Myers Squibb worth $68,355,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Northwest Financial Advisors acquired a new stake in Bristol-Myers Squibb in the fourth quarter valued at approximately $27,000. Accordant Advisory Group Inc acquired a new stake in Bristol-Myers Squibb in the first quarter valued at approximately $31,000. Pacific Capital Wealth Advisors Inc. acquired a new stake in Bristol-Myers Squibb in the fourth quarter valued at approximately $34,000. Turtle Creek Wealth Advisors LLC acquired a new stake in Bristol-Myers Squibb in the fourth quarter valued at approximately $40,000. Finally, Wetzel Investment Advisors Inc. acquired a new stake in Bristol-Myers Squibb in the fourth quarter valued at approximately $40,000. 76.41% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have weighed in on BMY. BMO Capital Markets lowered their target price on shares of Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating for the company in a research note on Friday, April 26th. Wells Fargo & Company lifted their price objective on shares of Bristol-Myers Squibb from $51.00 to $52.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 18th. Societe Generale downgraded shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research note on Monday, March 11th. StockNews.com downgraded shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 27th. Finally, William Blair reiterated a “market perform” rating on shares of Bristol-Myers Squibb in a research note on Monday, April 1st. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $60.00.

Bristol-Myers Squibb Stock Performance

BMY traded up $0.20 on Friday, reaching $39.66. The stock had a trading volume of 12,824,373 shares, compared to its average volume of 15,346,125. Bristol-Myers Squibb has a 12-month low of $39.35 and a 12-month high of $65.38. The company has a current ratio of 1.11, a quick ratio of 0.99 and a debt-to-equity ratio of 2.99. The business’s 50-day moving average price is $42.27 and its two-hundred day moving average price is $47.78. The company has a market cap of $80.39 billion, a P/E ratio of -12.79, a price-to-earnings-growth ratio of 13.71 and a beta of 0.44.

Bristol-Myers Squibb (NYSE:BMY) last released its earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) EPS for the quarter, topping analysts’ consensus estimates of ($4.53) by $0.13. The business had revenue of $11.87 billion during the quarter, compared to analysts’ expectations of $11.45 billion. Bristol-Myers Squibb had a negative net margin of 13.50% and a positive return on equity of 8.83%. The company’s quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.05 earnings per share. Sell-side analysts forecast that Bristol-Myers Squibb will post 0.58 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Friday, July 5th will be paid a dividend of $0.60 per share. The ex-dividend date is Friday, July 5th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 6.05%. Bristol-Myers Squibb’s dividend payout ratio is currently -77.42%.

Bristol-Myers Squibb Company 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.