Searle & CO. Increases Stock Holdings in Bristol-Myers Squibb (NYSE:BMY)

Searle & CO. boosted its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 1.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 94,346 shares of the biopharmaceutical company’s stock after acquiring an additional 1,765 shares during the quarter. Bristol-Myers Squibb accounts for approximately 0.9% of Searle & CO.’s investment portfolio, making the stock its 25th biggest position. Searle & CO.’s holdings in Bristol-Myers Squibb were worth $3,918,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Great Diamond Partners LLC boosted its stake in shares of Bristol-Myers Squibb by 9.2% in the 4th quarter. Great Diamond Partners LLC now owns 4,372 shares of the biopharmaceutical company’s stock valued at $224,000 after buying an additional 367 shares during the period. Global Assets Advisory LLC purchased a new position in shares of Bristol-Myers Squibb in the 1st quarter valued at about $5,161,000. Principal Securities Inc. purchased a new position in shares of Bristol-Myers Squibb in the 4th quarter valued at about $1,139,000. Lincoln National Corp boosted its stake in shares of Bristol-Myers Squibb by 7.7% in the 1st quarter. Lincoln National Corp now owns 42,894 shares of the biopharmaceutical company’s stock valued at $2,326,000 after buying an additional 3,052 shares during the period. Finally, Chapin Davis Inc. boosted its stake in shares of Bristol-Myers Squibb by 22.6% in the 1st quarter. Chapin Davis Inc. now owns 22,544 shares of the biopharmaceutical company’s stock valued at $1,223,000 after buying an additional 4,159 shares during the period. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Cantor Fitzgerald reiterated a “neutral” rating and issued a $45.00 price objective on shares of Bristol-Myers Squibb in a research note on Monday, July 22nd. Jefferies Financial Group raised their target price on Bristol-Myers Squibb from $49.00 to $51.00 and gave the stock a “hold” rating in a research report on Wednesday. Barclays raised their target price on Bristol-Myers Squibb from $41.00 to $42.00 and gave the stock an “underweight” rating in a research report on Thursday, August 22nd. TD Cowen raised their target price on Bristol-Myers Squibb from $45.00 to $53.00 and gave the stock a “hold” rating in a research report on Monday, August 12th. Finally, StockNews.com raised Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 29th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating, two have 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 has a consensus rating of “Hold” and a consensus target price of $54.67.

Bristol-Myers Squibb Stock Performance

BMY traded up $0.23 during trading on Friday, hitting $49.95. 9,594,794 shares of the stock were exchanged, compared to its average volume of 15,441,344. The firm has a market capitalization of $101.25 billion, a P/E ratio of -16.11, a PEG ratio of 12.51 and a beta of 0.44. Bristol-Myers Squibb has a 1-year low of $39.35 and a 1-year high of $63.03. The stock has a fifty day moving average price of $45.01 and a two-hundred day moving average price of $46.59. The company has a quick ratio of 0.99, a current ratio of 1.16 and a debt-to-equity ratio of 2.86.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly 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. The company had revenue of $12.20 billion for the quarter, compared to analyst estimates 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 was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.75 earnings per share. As a group, sell-side analysts predict that Bristol-Myers Squibb will post 0.77 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Friday, July 5th were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.80%. The ex-dividend date was Friday, July 5th. Bristol-Myers Squibb’s payout ratio is currently -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.