Hengehold Capital Management LLC Acquires 598 Shares of Bristol-Myers Squibb (NYSE:BMY)

Hengehold Capital Management LLC increased its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 3.7% in the third quarter, HoldingsChannel reports. The institutional investor owned 16,924 shares of the biopharmaceutical company’s stock after purchasing an additional 598 shares during the quarter. Hengehold Capital Management LLC’s holdings in Bristol-Myers Squibb were worth $876,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of BMY. Capital International Investors raised its stake in shares of Bristol-Myers Squibb by 14.1% during the first quarter. Capital International Investors now owns 70,203,814 shares of the biopharmaceutical company’s stock worth $3,807,153,000 after buying an additional 8,675,322 shares during the last quarter. M&G Plc bought a new stake in shares of Bristol-Myers Squibb during the first quarter worth approximately $392,608,000. Pzena Investment Management LLC increased its stake in Bristol-Myers Squibb by 119.8% in the first quarter. Pzena Investment Management LLC now owns 12,293,913 shares of the biopharmaceutical company’s stock valued at $666,699,000 after purchasing an additional 6,701,097 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in 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 purchasing an additional 5,461,767 shares in the last quarter. Finally, Van ECK Associates Corp increased its stake in Bristol-Myers Squibb by 97.2% in the first quarter. Van ECK Associates Corp now owns 7,949,173 shares of the biopharmaceutical company’s stock valued at $431,084,000 after purchasing an additional 3,918,234 shares in the last quarter. 76.41% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. TD Cowen upped their target price on shares of Bristol-Myers Squibb from $53.00 to $59.00 and gave the company a “hold” rating in a research note on Monday, October 7th. StockNews.com raised shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 29th. Jefferies Financial Group upped their target price on shares of Bristol-Myers Squibb from $49.00 to $51.00 and gave the company a “hold” rating in a research note on Wednesday, August 28th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating for the company in a research note on Tuesday, July 23rd. Finally, BMO Capital Markets reissued a “market perform” rating and set a $48.00 price objective on shares of Bristol-Myers Squibb in a research report on Monday, September 23rd. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Bristol-Myers Squibb has an average rating of “Hold” and an average price target of $53.20.

Bristol-Myers Squibb Stock Performance

Shares of BMY opened at $53.08 on Thursday. Bristol-Myers Squibb has a 12 month low of $39.35 and a 12 month high of $57.59. The firm has a fifty day simple moving average of $50.10 and a 200 day simple moving average of $46.37. The stock has a market capitalization of $107.60 billion, a price-to-earnings ratio of -17.22, a PEG ratio of 13.75 and a beta of 0.46. The company has a current ratio of 1.16, a quick ratio of 1.02 and a debt-to-equity ratio of 2.86.

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

Bristol-Myers Squibb Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 4th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 4.52%. The ex-dividend date is Friday, October 4th. Bristol-Myers Squibb’s dividend payout ratio is currently -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.