Fairman Group LLC Invests $42,000 in Bristol-Myers Squibb (NYSE:BMY)

Fairman Group LLC bought a new position in Bristol-Myers Squibb (NYSE:BMYFree Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 819 shares of the biopharmaceutical company’s stock, valued at approximately $42,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BMY. Norges Bank bought a new position in Bristol-Myers Squibb during the 4th quarter valued at approximately $1,560,524,000. Van ECK Associates Corp boosted its stake in Bristol-Myers Squibb by 792.6% during the 4th quarter. Van ECK Associates Corp now owns 4,030,939 shares of the biopharmaceutical company’s stock valued at $206,828,000 after purchasing an additional 3,579,324 shares during the last quarter. Primecap Management Co. CA boosted its stake in Bristol-Myers Squibb by 14.6% during the 4th quarter. Primecap Management Co. CA now owns 23,534,378 shares of the biopharmaceutical company’s stock valued at $1,207,549,000 after purchasing an additional 2,998,228 shares during the last quarter. Pacer Advisors Inc. boosted its stake in Bristol-Myers Squibb by 48.0% during the 4th quarter. Pacer Advisors Inc. now owns 7,830,948 shares of the biopharmaceutical company’s stock valued at $401,806,000 after purchasing an additional 2,540,360 shares during the last quarter. Finally, Franklin Resources Inc. boosted its stake in Bristol-Myers Squibb by 36.7% during the 4th quarter. Franklin Resources Inc. now owns 9,357,199 shares of the biopharmaceutical company’s stock valued at $480,118,000 after purchasing an additional 2,510,134 shares during the last quarter. Institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Stock Performance

Shares of BMY stock traded down $0.02 during trading hours on Tuesday, reaching $40.95. 2,294,269 shares of the company’s stock were exchanged, compared to its average volume of 15,340,197. The stock’s 50 day moving average is $44.30 and its 200-day moving average is $48.67. The company has a debt-to-equity ratio of 2.99, a quick ratio of 0.99 and a current ratio of 1.11. Bristol-Myers Squibb has a fifty-two week low of $39.91 and a fifty-two week high of $66.38.

Bristol-Myers Squibb (NYSE:BMYGet Free Report) last issued its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($4.53) by $0.13. Bristol-Myers Squibb had a positive return on equity of 8.83% and a negative net margin of 13.50%. The business had revenue of $11.87 billion for the quarter, compared to the consensus estimate of $11.45 billion. During the same period in the prior year, the firm posted $2.05 earnings per share. The business’s quarterly revenue was up 4.7% on a year-over-year basis. On average, analysts expect that Bristol-Myers Squibb will post 0.59 EPS for the current year.

Bristol-Myers Squibb Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Friday, July 5th will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 5.86%. Bristol-Myers Squibb’s payout ratio is -77.42%.

Analyst Upgrades and Downgrades

Several brokerages have commented on BMY. Wells Fargo & Company increased their target price on Bristol-Myers Squibb from $51.00 to $52.00 and gave the company an “equal weight” rating in a research note on Thursday, April 18th. StockNews.com downgraded Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research report on Monday. Societe Generale downgraded Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research report on Monday, March 11th. Barclays lowered their target price on Bristol-Myers Squibb from $51.00 to $43.00 and set an “equal weight” rating on the stock in a research report on Friday, April 26th. Finally, BMO Capital Markets lowered their target price on Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating on the stock in a research report on Friday, April 26th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $60.00.

Check Out Our Latest Analysis on BMY

Bristol-Myers Squibb Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Bristol-Myers Squibb (NYSE:BMY)

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