Cornerstone Capital Inc. Purchases 459 Shares of Bristol-Myers Squibb (NYSE:BMY)

Cornerstone Capital Inc. raised its position in Bristol-Myers Squibb (NYSE:BMY) by 5.1% in the 3rd quarter, Holdings Channel.com reports. The firm owned 9,444 shares of the biopharmaceutical company’s stock after buying an additional 459 shares during the period. Cornerstone Capital Inc.’s holdings in Bristol-Myers Squibb were worth $489,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. Capital International Investors grew its holdings in Bristol-Myers Squibb by 14.1% during the 1st quarter. Capital International Investors now owns 70,203,814 shares of the biopharmaceutical company’s stock worth $3,807,153,000 after acquiring an additional 8,675,322 shares during the last quarter. M&G Plc bought a new position in Bristol-Myers Squibb during the 1st quarter worth $392,608,000. Price T Rowe Associates Inc. MD increased its stake in shares of Bristol-Myers Squibb by 77.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 12,547,823 shares of the biopharmaceutical company’s stock valued at $680,469,000 after buying an additional 5,461,767 shares during the period. Federated Hermes Inc. lifted its stake in shares of Bristol-Myers Squibb by 86.3% in the second quarter. Federated Hermes Inc. now owns 7,546,311 shares of the biopharmaceutical company’s stock worth $313,398,000 after acquiring an additional 3,495,704 shares during the period. Finally, Swedbank AB acquired a new stake in Bristol-Myers Squibb during the 1st quarter valued at approximately $158,223,000. 76.41% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently commented on BMY shares. Citigroup lowered shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $75.00 to $55.00 in a research note on Friday, October 25th. Jefferies Financial Group boosted their price objective on Bristol-Myers Squibb from $49.00 to $51.00 and gave the company a “hold” rating in a research note on Wednesday, August 28th. StockNews.com raised Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 29th. TD Cowen increased their price target on Bristol-Myers Squibb from $53.00 to $59.00 and gave the stock a “hold” rating in a report on Monday, October 7th. Finally, UBS Group increased their target price on shares of Bristol-Myers Squibb from $50.00 to $54.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $53.00.

Bristol-Myers Squibb Stock Down 0.3 %

NYSE BMY traded down $0.17 during trading hours on Tuesday, reaching $55.28. 1,092,638 shares of the company were exchanged, compared to its average volume of 14,404,673. The company has a debt-to-equity ratio of 2.83, a quick ratio of 1.09 and a current ratio of 1.24. Bristol-Myers Squibb has a 1 year low of $39.35 and a 1 year high of $56.20. The business’s 50 day simple moving average is $51.41 and its 200-day simple moving average is $46.61.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported $1.80 EPS for the quarter, beating the consensus estimate of $1.49 by $0.31. Bristol-Myers Squibb had a positive return on equity of 11.94% and a negative net margin of 15.30%. The business had revenue of $11.89 billion for the quarter, compared to the consensus estimate of $11.26 billion. During the same quarter in the prior year, the business earned $2.00 earnings per share. Bristol-Myers Squibb’s revenue for the quarter was up 8.4% on a year-over-year basis. On average, equities research analysts predict that Bristol-Myers Squibb will post 0.83 earnings per share for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 4th were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 4.34%. The ex-dividend date was Friday, October 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -66.85%.

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.