Viewpoint Capital Management LLC Increases Stake in Bristol-Myers Squibb (NYSE:BMY)

Viewpoint Capital Management LLC increased its holdings in Bristol-Myers Squibb (NYSE:BMY) by 7.8% during the third quarter, Holdings Channel.com reports. The firm owned 30,576 shares of the biopharmaceutical company’s stock after acquiring an additional 2,205 shares during the quarter. Bristol-Myers Squibb accounts for 0.9% of Viewpoint Capital Management LLC’s investment portfolio, making the stock its 28th largest holding. Viewpoint Capital Management LLC’s holdings in Bristol-Myers Squibb were worth $1,557,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Capital International Investors raised its holdings in Bristol-Myers Squibb by 14.1% during the 1st quarter. Capital International Investors now owns 70,203,814 shares of the biopharmaceutical company’s stock valued at $3,807,153,000 after buying an additional 8,675,322 shares during the last quarter. Primecap Management Co. CA raised its stake in shares of Bristol-Myers Squibb by 1.0% during the second quarter. Primecap Management Co. CA now owns 23,498,604 shares of the biopharmaceutical company’s stock valued at $975,897,000 after acquiring an additional 225,197 shares during the last quarter. Legal & General Group Plc grew its stake in shares of Bristol-Myers Squibb by 3.8% in the second quarter. Legal & General Group Plc now owns 20,225,040 shares of the biopharmaceutical company’s stock worth $839,946,000 after purchasing an additional 735,613 shares during the last quarter. Independent Franchise Partners LLP increased its holdings in Bristol-Myers Squibb by 4.0% during the 2nd quarter. Independent Franchise Partners LLP now owns 14,600,621 shares of the biopharmaceutical company’s stock valued at $606,364,000 after purchasing an additional 556,295 shares during the period. Finally, Pzena Investment Management LLC raised its position in Bristol-Myers Squibb by 15.0% during the 2nd quarter. Pzena Investment Management LLC now owns 14,134,337 shares of the biopharmaceutical company’s stock valued at $586,999,000 after purchasing an additional 1,840,424 shares during the last quarter. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on BMY shares. TD Cowen upped their target price on Bristol-Myers Squibb from $53.00 to $59.00 and gave the company a “hold” rating in a report on Monday, October 7th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $48.00 target price on shares of Bristol-Myers Squibb in a research report on Monday, September 23rd. Sanford C. Bernstein started coverage on shares of Bristol-Myers Squibb in a research report on Thursday, October 17th. They set a “market perform” rating and a $56.00 price target on the stock. StockNews.com upgraded shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Monday, July 29th. Finally, Barclays upped their target price on Bristol-Myers Squibb from $42.00 to $43.00 and gave the stock an “underweight” rating in a report on Monday, October 7th. Two investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $53.31.

Bristol-Myers Squibb Stock Down 1.9 %

Shares of BMY traded down $1.00 during trading hours on Friday, hitting $51.92. The company had a trading volume of 7,127,425 shares, compared to its average volume of 14,553,149. Bristol-Myers Squibb has a 52-week low of $39.35 and a 52-week high of $55.29. The firm has a fifty day moving average price of $50.75 and a 200-day moving average price of $46.44. The stock has a market capitalization of $105.25 billion, a price-to-earnings ratio of -16.75, a P/E/G ratio of 13.75 and a beta of 0.46. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.02 and a current ratio of 1.16.

Bristol-Myers Squibb (NYSE:BMY) last issued its earnings results 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. Bristol-Myers Squibb had a negative net margin of 14.06% and a positive return on equity of 12.51%. The firm had revenue of $12.20 billion for the quarter, compared to the consensus estimate of $11.54 billion. During the same quarter in the prior year, the firm posted $1.75 earnings per share. The business’s revenue was up 8.7% on a year-over-year basis. On average, equities research analysts forecast that Bristol-Myers Squibb will post 0.77 EPS for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 4th will be given a $0.60 dividend. The ex-dividend date is Friday, October 4th. This represents a $2.40 annualized dividend and a yield of 4.62%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -77.42%.

About Bristol-Myers Squibb

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.