Bristol-Myers Squibb (NYSE:BMY) Shares Bought by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. lifted its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 31.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 467,994 shares of the biopharmaceutical company’s stock after purchasing an additional 111,303 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Bristol-Myers Squibb were worth $19,436,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in BMY. Leelyn Smith LLC increased its position in Bristol-Myers Squibb by 12.9% during the second quarter. Leelyn Smith LLC now owns 43,507 shares of the biopharmaceutical company’s stock worth $1,807,000 after buying an additional 4,982 shares during the period. Thoroughbred Financial Services LLC grew its position in shares of Bristol-Myers Squibb by 9.5% during the second quarter. Thoroughbred Financial Services LLC now owns 10,353 shares of the biopharmaceutical company’s stock worth $430,000 after acquiring an additional 901 shares during the last quarter. Stoneridge Investment Partners LLC increased its holdings in shares of Bristol-Myers Squibb by 216.5% in the 2nd quarter. Stoneridge Investment Partners LLC now owns 147,573 shares of the biopharmaceutical company’s stock valued at $6,129,000 after acquiring an additional 100,951 shares during the period. Mcintyre Freedman & Flynn Investment Advisers Inc. purchased a new stake in Bristol-Myers Squibb in the 2nd quarter valued at $293,000. Finally, SYM FINANCIAL Corp purchased a new position in Bristol-Myers Squibb during the 2nd quarter worth $343,000. 76.41% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on BMY. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $45.00 target price on shares of Bristol-Myers Squibb in a report on Monday, July 22nd. TD Cowen increased their price objective 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. StockNews.com raised Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Monday, July 29th. Jefferies Financial Group increased their price target on Bristol-Myers Squibb from $49.00 to $51.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating on the stock in a research note on Tuesday, July 23rd. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $54.67.

Bristol-Myers Squibb Price Performance

BMY stock opened at $49.13 on Friday. The firm has a 50 day moving average of $46.79 and a 200-day moving average of $46.53. The company has a market cap of $99.61 billion, a price-to-earnings ratio of -15.85, a PEG ratio of 12.59 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 has a 12-month low of $39.35 and a 12-month high of $60.55.

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

Bristol-Myers Squibb Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 4th will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.40 annualized dividend and a yield of 4.88%. Bristol-Myers Squibb’s dividend payout ratio (DPR) 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.