Grimes & Company Inc. Raises Position in Bristol-Myers Squibb (NYSE:BMY)

Grimes & Company Inc. raised its stake in Bristol-Myers Squibb (NYSE:BMY) by 0.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 445,508 shares of the biopharmaceutical company’s stock after purchasing an additional 846 shares during the quarter. Grimes & Company Inc.’s holdings in Bristol-Myers Squibb were worth $23,051,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Sunbelt Securities Inc. increased its position in shares of Bristol-Myers Squibb by 19.1% during the first quarter. Sunbelt Securities Inc. now owns 10,080 shares of the biopharmaceutical company’s stock valued at $547,000 after acquiring an additional 1,614 shares during the last quarter. Brookstone Capital Management increased its position in shares of Bristol-Myers Squibb by 36.4% during the first quarter. Brookstone Capital Management now owns 150,037 shares of the biopharmaceutical company’s stock valued at $8,137,000 after acquiring an additional 40,018 shares during the last quarter. Future Financial Wealth Managment LLC purchased a new stake in shares of Bristol-Myers Squibb during the first quarter valued at approximately $83,000. Aspiriant LLC increased its position in shares of Bristol-Myers Squibb by 8.3% during the first quarter. Aspiriant LLC now owns 9,118 shares of the biopharmaceutical company’s stock valued at $495,000 after acquiring an additional 702 shares during the last quarter. Finally, Signet Financial Management LLC purchased a new stake in shares of Bristol-Myers Squibb during the first quarter valued at approximately $1,070,000. 76.41% of the stock is owned by hedge funds and other institutional investors.

Bristol-Myers Squibb Price Performance

NYSE:BMY traded up $0.07 during trading hours on Thursday, hitting $53.13. 140,589 shares of the company’s stock traded hands, compared to its average volume of 14,555,416. The firm has a market cap of $107.70 billion, a P/E ratio of -17.12, a P/E/G ratio of 13.75 and a beta of 0.46. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $56.77. The business’s fifty day simple moving average is $50.63 and its two-hundred day simple moving average is $46.39. The company has a quick ratio of 1.02, a current ratio of 1.16 and a debt-to-equity ratio of 2.86.

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

Bristol-Myers Squibb Announces Dividend

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 dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 4.52%. The ex-dividend date of this dividend is Friday, October 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently -77.42%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on BMY shares. Deutsche Bank Aktiengesellschaft reduced their price objective on Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating for the company in a report on Tuesday, July 23rd. BMO Capital Markets reissued a “market perform” rating and set a $48.00 price objective on shares of Bristol-Myers Squibb in a report on Monday, September 23rd. UBS Group increased their price objective on Bristol-Myers Squibb from $50.00 to $54.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Barclays increased their price objective on Bristol-Myers Squibb from $42.00 to $43.00 and gave the company an “underweight” rating in a report on Monday, October 7th. Finally, Sanford C. Bernstein started coverage on Bristol-Myers Squibb in a report on Thursday, October 17th. They set a “market perform” rating and a $56.00 price objective for the company. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $53.20.

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.