OLD National Bancorp IN Has $8.55 Million Position in Bristol-Myers Squibb (NYSE:BMY)

OLD National Bancorp IN lifted its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 8.2% in the second quarter, HoldingsChannel reports. The institutional investor owned 205,801 shares of the biopharmaceutical company’s stock after buying an additional 15,680 shares during the period. OLD National Bancorp IN’s holdings in Bristol-Myers Squibb were worth $8,547,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. Strategic Blueprint LLC raised its holdings in shares of Bristol-Myers Squibb by 78.6% in the 4th quarter. Strategic Blueprint LLC now owns 9,715 shares of the biopharmaceutical company’s stock valued at $498,000 after purchasing an additional 4,275 shares during the period. RFG Advisory LLC boosted its stake in shares of Bristol-Myers Squibb by 6.3% during the 4th quarter. RFG Advisory LLC now owns 18,016 shares of the biopharmaceutical company’s stock worth $924,000 after acquiring an additional 1,064 shares during the period. Turtle Creek Wealth Advisors LLC acquired a new position in shares of Bristol-Myers Squibb during the 4th quarter worth approximately $40,000. PBMares Wealth Management LLC raised its stake in Bristol-Myers Squibb by 6.2% in the 4th quarter. PBMares Wealth Management LLC now owns 4,141 shares of the biopharmaceutical company’s stock valued at $212,000 after acquiring an additional 242 shares during the period. Finally, Sequoia Financial Advisors LLC lifted its holdings in Bristol-Myers Squibb by 121.7% during the 4th quarter. Sequoia Financial Advisors LLC now owns 77,049 shares of the biopharmaceutical company’s stock valued at $3,953,000 after purchasing an additional 42,301 shares during the last quarter. Institutional investors own 76.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Cantor Fitzgerald reissued a “neutral” rating and issued a $45.00 price objective on shares of Bristol-Myers Squibb in a research report on Monday, July 22nd. BMO Capital Markets lowered their price target on shares of Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating on the stock in a report on Friday, April 26th. StockNews.com upgraded shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 29th. Wells Fargo & Company upped their target price on Bristol-Myers Squibb from $51.00 to $52.00 and gave the company an “equal weight” rating in a research report on Thursday, April 18th. Finally, Barclays cut Bristol-Myers Squibb from an “overweight” rating to an “equal weight” rating and set a $41.00 price target for the company. in a report on Monday, July 29th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $55.79.

Bristol-Myers Squibb Price Performance

BMY traded down $0.13 on Friday, hitting $46.72. 14,083,504 shares of the stock were exchanged, compared to its average volume of 15,967,806. The firm has a market capitalization of $94.71 billion, a price-to-earnings ratio of -15.07, a PEG ratio of 12.51 and a beta of 0.44. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.16 and a quick ratio of 0.99. Bristol-Myers Squibb has a 12 month low of $39.35 and a 12 month high of $63.41. The business has a 50-day moving average of $43.02 and a two-hundred day moving average of $46.65.

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

Bristol-Myers Squibb Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Friday, July 5th were paid a $0.60 dividend. The ex-dividend date was Friday, July 5th. This represents a $2.40 annualized dividend and a dividend yield of 5.14%. Bristol-Myers Squibb’s payout ratio is -77.42%.

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.