13,076 Shares in Bristol-Myers Squibb (NYSE:BMY) Acquired by GAMMA Investing LLC

GAMMA Investing LLC purchased a new position in Bristol-Myers Squibb (NYSE:BMY) during the 4th quarter, HoldingsChannel reports. The firm purchased 13,076 shares of the biopharmaceutical company’s stock, valued at approximately $639,000.

Several other hedge funds have also recently added to or reduced their stakes in BMY. Pacer Advisors Inc. raised its stake in Bristol-Myers Squibb by 48.0% during the 4th quarter. Pacer Advisors Inc. now owns 7,830,948 shares of the biopharmaceutical company’s stock valued at $401,806,000 after acquiring an additional 2,540,360 shares in the last quarter. AustralianSuper Pty Ltd bought a new stake in Bristol-Myers Squibb during the 4th quarter valued at $86,965,000. Mizuho Markets Americas LLC bought a new stake in shares of Bristol-Myers Squibb in the 3rd quarter worth $82,405,000. Northern Trust Corp raised its stake in shares of Bristol-Myers Squibb by 5.8% in the 3rd quarter. Northern Trust Corp now owns 25,292,711 shares of the biopharmaceutical company’s stock worth $1,467,989,000 after buying an additional 1,394,158 shares in the last quarter. Finally, Invesco Ltd. raised its stake in shares of Bristol-Myers Squibb by 8.6% in the 3rd quarter. Invesco Ltd. now owns 15,606,587 shares of the biopharmaceutical company’s stock worth $905,806,000 after buying an additional 1,240,902 shares in the last quarter. Institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Stock Down 0.3 %

Shares of NYSE:BMY traded down $0.16 on Wednesday, reaching $48.83. The company had a trading volume of 9,568,274 shares, compared to its average volume of 15,435,662. Bristol-Myers Squibb has a twelve month low of $47.58 and a twelve month high of $70.93. The stock has a 50-day moving average price of $51.22 and a 200 day moving average price of $51.32. The stock has a market capitalization of $98.97 billion, a P/E ratio of 12.60, a P/E/G ratio of 1.48 and a beta of 0.39. The company has a quick ratio of 1.31, a current ratio of 1.43 and a debt-to-equity ratio of 1.24.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings results on Friday, February 2nd. The biopharmaceutical company reported $1.70 earnings per share for the quarter, topping analysts’ consensus estimates of $1.55 by $0.15. Bristol-Myers Squibb had a return on equity of 50.95% and a net margin of 17.83%. The company had revenue of $11.48 billion during the quarter, compared to analysts’ expectations of $11.19 billion. During the same quarter in the previous year, the firm earned $1.82 earnings per share. The business’s quarterly revenue was up .6% compared to the same quarter last year. On average, equities analysts expect that Bristol-Myers Squibb will post 6.63 EPS for the current year.

Bristol-Myers Squibb Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Friday, April 5th will be given a $0.60 dividend. The ex-dividend date is Thursday, April 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.92%. Bristol-Myers Squibb’s dividend payout ratio is currently 62.18%.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Redburn Atlantic downgraded Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $77.00 to $54.00 in a research note on Tuesday, February 6th. William Blair restated a “market perform” rating on shares of Bristol-Myers Squibb in a report on Monday, April 1st. Bank of America cut Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $68.00 to $60.00 in a report on Wednesday, January 3rd. StockNews.com cut Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a report on Monday, April 15th. Finally, Societe Generale cut Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a report on Monday, March 11th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $61.18.

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.