King Luther Capital Management Corp Grows Position in Bristol Myers Squibb Company (NYSE:BMY)

King Luther Capital Management Corp lifted its holdings in shares of Bristol Myers Squibb Company (NYSE:BMY) by 1,030.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 249,387 shares of the biopharmaceutical company’s stock after purchasing an additional 227,332 shares during the quarter. King Luther Capital Management Corp’s holdings in Bristol Myers Squibb were worth $15,210,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Marcum Wealth LLC boosted its holdings in Bristol Myers Squibb by 1.0% during the 1st quarter. Marcum Wealth LLC now owns 19,296 shares of the biopharmaceutical company’s stock valued at $1,177,000 after acquiring an additional 193 shares during the period. Beacon Investment Advisory Services Inc. boosted its holdings in Bristol Myers Squibb by 2.7% during the 1st quarter. Beacon Investment Advisory Services Inc. now owns 8,063 shares of the biopharmaceutical company’s stock valued at $492,000 after acquiring an additional 212 shares during the period. 1858 Wealth Management LLC boosted its holdings in Bristol Myers Squibb by 3.6% during the 1st quarter. 1858 Wealth Management LLC now owns 6,421 shares of the biopharmaceutical company’s stock valued at $392,000 after acquiring an additional 221 shares during the period. Tompkins Financial Corp boosted its holdings in Bristol Myers Squibb by 2.5% during the 1st quarter. Tompkins Financial Corp now owns 9,151 shares of the biopharmaceutical company’s stock valued at $558,000 after acquiring an additional 225 shares during the period. Finally, LS Investment Advisors LLC boosted its holdings in Bristol Myers Squibb by 1.3% during the 1st quarter. LS Investment Advisors LLC now owns 17,015 shares of the biopharmaceutical company’s stock valued at $1,038,000 after acquiring an additional 225 shares during the period. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on BMY. Citigroup lowered their target price on Bristol Myers Squibb from $51.00 to $47.00 and set a “neutral” rating for the company in a report on Friday, August 1st. Morgan Stanley reiterated a “hold” rating on shares of Bristol Myers Squibb in a research note on Thursday, July 31st. Piper Sandler began coverage on Bristol Myers Squibb in a research note on Tuesday, April 22nd. They issued an “overweight” rating and a $65.00 price objective for the company. Wall Street Zen cut Bristol Myers Squibb from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 6th. Finally, William Blair reiterated a “market perform” rating on shares of Bristol Myers Squibb in a research note on Friday, April 25th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $56.38.

Bristol Myers Squibb Trading Up 1.3%

NYSE:BMY opened at $45.96 on Monday. The firm has a market cap of $93.55 billion, a P/E ratio of 18.53, a PEG ratio of 2.35 and a beta of 0.36. The company has a current ratio of 1.21, a quick ratio of 1.11 and a debt-to-equity ratio of 2.54. The stock’s 50 day simple moving average is $47.32 and its 200-day simple moving average is $51.82. Bristol Myers Squibb Company has a 12-month low of $42.96 and a 12-month high of $63.33.

Bristol Myers Squibb (NYSE:BMY) last released its earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.07 by $0.39. The business had revenue of $12.27 billion for the quarter, compared to analyst estimates of $11.32 billion. Bristol Myers Squibb had a return on equity of 80.04% and a net margin of 10.58%. The company’s revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.07 earnings per share. Equities analysts anticipate that Bristol Myers Squibb Company will post 6.74 EPS for the current year.

Bristol Myers Squibb Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Thursday, July 3rd were issued a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 5.4%. The ex-dividend date of this dividend was Thursday, July 3rd. Bristol Myers Squibb’s dividend payout ratio is currently 100.00%.

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.