Daiwa Securities Group Inc. Grows Stock Holdings in Bristol-Myers Squibb (NYSE:BMY)

Daiwa Securities Group Inc. grew its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 6.8% during the fourth quarter, HoldingsChannel reports. The firm owned 190,525 shares of the biopharmaceutical company’s stock after purchasing an additional 12,160 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Bristol-Myers Squibb were worth $9,776,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in BMY. True Wealth Design LLC acquired a new position in shares of Bristol-Myers Squibb in the 4th quarter valued at $26,000. Coppell Advisory Solutions Corp. acquired a new position in Bristol-Myers Squibb in the fourth quarter valued at $31,000. Coppell Advisory Solutions LLC purchased a new stake in Bristol-Myers Squibb during the second quarter valued at about $28,000. Live Oak Investment Partners acquired a new stake in Bristol-Myers Squibb during the fourth quarter worth about $33,000. Finally, OFI Invest Asset Management purchased a new position in shares of Bristol-Myers Squibb in the 3rd quarter worth about $25,000. Institutional investors and hedge funds own 76.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. StockNews.com cut shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research report on Monday. Wells Fargo & Company increased their price target on Bristol-Myers Squibb from $51.00 to $52.00 and gave the company an “equal weight” rating in a report on Thursday. Bank of America cut Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $68.00 to $60.00 in a research note on Wednesday, January 3rd. William Blair reiterated a “market perform” rating on shares of Bristol-Myers Squibb in a report on Monday, April 1st. Finally, Redburn Atlantic downgraded shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $77.00 to $54.00 in a research report on Tuesday, February 6th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Bristol-Myers Squibb currently has a consensus rating of “Hold” and an average price target of $61.18.

Bristol-Myers Squibb Stock Up 1.0 %

BMY stock opened at $48.30 on Friday. The firm has a market cap of $97.89 billion, a price-to-earnings ratio of 12.51, a PEG ratio of 1.49 and a beta of 0.39. Bristol-Myers Squibb has a 1-year low of $47.58 and a 1-year high of $70.93. The firm has a fifty day moving average price of $51.25 and a two-hundred day moving average price of $51.57. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.43 and a quick ratio of 1.31.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings results on Friday, February 2nd. The biopharmaceutical company reported $1.70 earnings per share for the quarter, topping analysts’ consensus estimates of $1.55 by $0.15. Bristol-Myers Squibb had a return on equity of 50.95% and a net margin of 17.83%. The business had revenue of $11.48 billion for the quarter, compared to analysts’ expectations of $11.19 billion. During the same period in the prior year, the firm earned $1.82 EPS. The business’s quarterly revenue was up .6% on a year-over-year basis. Research analysts predict that Bristol-Myers Squibb will post 6.47 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Friday, April 5th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 4.97%. The ex-dividend date is Thursday, April 4th. Bristol-Myers Squibb’s payout ratio is 62.18%.

Bristol-Myers Squibb Company 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.