Trexquant Investment LP purchased a new position in shares of Bristol-Myers Squibb Co (NYSE:BMY) during the 3rd quarter, HoldingsChannel.com reports. The fund purchased 79,957 shares of the biopharmaceutical company’s stock, valued at approximately $4,964,000.
Several other hedge funds have also bought and sold shares of the business. CSat Investment Advisory L.P. bought a new position in shares of Bristol-Myers Squibb in the second quarter worth approximately $113,000. Cypress Capital Management LLC WY grew its holdings in shares of Bristol-Myers Squibb by 154.7% in the third quarter. Cypress Capital Management LLC WY now owns 1,910 shares of the biopharmaceutical company’s stock worth $119,000 after purchasing an additional 1,160 shares during the last quarter. Landaas & Co. WI ADV bought a new position in shares of Bristol-Myers Squibb in the second quarter worth approximately $131,000. Selective Wealth Management bought a new position in shares of Bristol-Myers Squibb in the third quarter worth approximately $184,000. Finally, LFA Lugano Financial Advisors SA grew its holdings in shares of Bristol-Myers Squibb by 85.8% in the third quarter. LFA Lugano Financial Advisors SA now owns 3,207 shares of the biopharmaceutical company’s stock worth $199,000 after purchasing an additional 1,481 shares during the last quarter. 72.90% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages have recently issued reports on BMY. BMO Capital Markets raised their target price on shares of Bristol-Myers Squibb from $55.00 to $58.00 and gave the stock a “market perform” rating in a report on Friday, November 16th. Credit Suisse Group raised their target price on shares of Bristol-Myers Squibb from $58.00 to $61.00 and gave the stock a “neutral” rating in a report on Friday, July 27th. Societe Generale set a $47.00 target price on shares of Bristol-Myers Squibb and gave the stock a “sell” rating in a report on Wednesday, November 14th. Morgan Stanley cut their target price on shares of Bristol-Myers Squibb from $63.00 to $59.00 and set a “hold” rating on the stock in a report on Tuesday, November 6th. Finally, SunTrust Banks restated a “buy” rating and issued a $67.00 target price on shares of Bristol-Myers Squibb in a report on Tuesday, July 31st. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $61.84.
Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Thursday, October 25th. The biopharmaceutical company reported $1.09 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.18. The business had revenue of $5.69 billion for the quarter, compared to analysts’ expectations of $5.72 billion. Bristol-Myers Squibb had a net margin of 6.50% and a return on equity of 47.89%. As a group, analysts predict that Bristol-Myers Squibb Co will post 3.87 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, November 1st. Investors of record on Friday, October 5th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 3.02%. The ex-dividend date was Thursday, October 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently 53.16%.
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Bristol-Myers Squibb Profile
Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, and distributes biopharmaceutical products worldwide. The company offers drugs in various therapeutic classes, such as oncology; cardiovascular; immunoscience; and virology, including human immunodeficiency virus (HIV) infection.
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