Perpetual Ltd Has $1.25 Million Stock Holdings in Bristol-Myers Squibb (NYSE:BMY)

Perpetual Ltd raised its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 5.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,209 shares of the biopharmaceutical company’s stock after purchasing an additional 1,243 shares during the quarter. Perpetual Ltd’s holdings in Bristol-Myers Squibb were worth $1,253,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in BMY. Bruce G. Allen Investments LLC increased its position in Bristol-Myers Squibb by 22.0% during the 3rd quarter. Bruce G. Allen Investments LLC now owns 3,405 shares of the biopharmaceutical company’s stock worth $176,000 after buying an additional 614 shares during the period. Enterprise Bank & Trust Co bought a new position in Bristol-Myers Squibb during the 3rd quarter worth $212,000. Sanibel Captiva Trust Company Inc. increased its position in Bristol-Myers Squibb by 47.1% during the 3rd quarter. Sanibel Captiva Trust Company Inc. now owns 35,320 shares of the biopharmaceutical company’s stock worth $1,827,000 after buying an additional 11,315 shares during the period. Wedmont Private Capital increased its position in Bristol-Myers Squibb by 14.1% during the 3rd quarter. Wedmont Private Capital now owns 8,095 shares of the biopharmaceutical company’s stock worth $433,000 after buying an additional 999 shares during the period. Finally, Marcum Wealth LLC increased its position in Bristol-Myers Squibb by 8.2% during the 3rd quarter. Marcum Wealth LLC now owns 17,139 shares of the biopharmaceutical company’s stock worth $887,000 after buying an additional 1,305 shares during the period. Institutional investors and hedge funds own 76.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. BMO Capital Markets restated a “market perform” rating and issued a $48.00 price target on shares of Bristol-Myers Squibb in a research report on Monday, September 23rd. UBS Group raised their price target on Bristol-Myers Squibb from $50.00 to $54.00 and gave the stock a “neutral” rating in a research report on Wednesday. Deutsche Bank Aktiengesellschaft decreased their price target on Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating on the stock in a research report on Tuesday, July 23rd. Cantor Fitzgerald restated a “neutral” rating and issued a $50.00 price target on shares of Bristol-Myers Squibb in a research report on Monday, September 16th. Finally, Barclays raised their price target on Bristol-Myers Squibb from $42.00 to $43.00 and gave the stock an “underweight” rating in a research report on Monday, October 7th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $53.00.

Bristol-Myers Squibb Trading Down 0.4 %

Shares of BMY stock opened at $52.19 on Friday. The company has a market cap of $105.79 billion, a P/E ratio of -16.84, a PEG ratio of 13.75 and a beta of 0.46. The stock has a 50 day simple moving average of $49.75 and a two-hundred day simple moving average of $46.43. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.02 and a current ratio of 1.16. Bristol-Myers Squibb has a fifty-two week low of $39.35 and a fifty-two week high of $57.65.

Bristol-Myers Squibb (NYSE:BMY) last issued its earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share for the quarter, topping analysts’ consensus estimates of $1.64 by $0.43. The business had revenue of $12.20 billion during the quarter, compared to the consensus estimate of $11.54 billion. Bristol-Myers Squibb had a positive return on equity of 12.51% and a negative net margin of 14.06%. The firm’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.75 earnings per share. Research analysts forecast that Bristol-Myers Squibb will post 0.77 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 4th will be issued a dividend of $0.60 per share. The ex-dividend date is Friday, October 4th. This represents a $2.40 annualized dividend and a dividend yield of 4.60%. Bristol-Myers Squibb’s dividend payout ratio is -77.42%.

About Bristol-Myers Squibb

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.