Van ECK Associates Corp Has $206.83 Million Stock Holdings in Bristol-Myers Squibb (NYSE:BMY)

Van ECK Associates Corp boosted its stake in Bristol-Myers Squibb (NYSE:BMY) by 792.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,030,939 shares of the biopharmaceutical company’s stock after purchasing an additional 3,579,324 shares during the quarter. Van ECK Associates Corp owned about 0.20% of Bristol-Myers Squibb worth $206,828,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of BMY. Pacer Advisors Inc. lifted its stake in shares of Bristol-Myers Squibb by 48.0% in the fourth quarter. Pacer Advisors Inc. now owns 7,830,948 shares of the biopharmaceutical company’s stock valued at $401,806,000 after buying an additional 2,540,360 shares in the last quarter. AustralianSuper Pty Ltd purchased a new stake in Bristol-Myers Squibb during the fourth quarter worth about $86,965,000. Mizuho Markets Americas LLC purchased a new stake in Bristol-Myers Squibb during the third quarter worth about $82,405,000. Northern Trust Corp increased its holdings in Bristol-Myers Squibb by 5.8% during the third quarter. Northern Trust Corp now owns 25,292,711 shares of the biopharmaceutical company’s stock worth $1,467,989,000 after buying an additional 1,394,158 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in Bristol-Myers Squibb by 8.6% during the third quarter. Invesco Ltd. now owns 15,606,587 shares of the biopharmaceutical company’s stock worth $905,806,000 after buying an additional 1,240,902 shares during the last quarter. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Wells Fargo & Company raised their price objective on shares of Bristol-Myers Squibb from $51.00 to $52.00 and gave the stock an “equal weight” rating in a report on Thursday, April 18th. BMO Capital Markets decreased their price objective on shares of Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating for the company in a report on Friday. StockNews.com downgraded shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a report on Monday, April 15th. Redburn Atlantic downgraded shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $77.00 to $54.00 in a research note on Tuesday, February 6th. Finally, Barclays reduced their target price on shares of Bristol-Myers Squibb from $51.00 to $43.00 and set an “equal weight” rating for the company in a research note on Friday. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $60.00.

Bristol-Myers Squibb Price Performance

NYSE:BMY traded down $0.20 during mid-day trading on Monday, hitting $44.65. 16,426,560 shares of the stock traded hands, compared to its average volume of 15,973,855. The business’s 50-day moving average price is $51.03 and its 200 day moving average price is $51.10. The company has a market cap of $90.51 billion, a PE ratio of -14.41, a price-to-earnings-growth ratio of 15.47 and a beta of 0.39. Bristol-Myers Squibb has a 12-month low of $44.34 and a 12-month high of $69.10. The company has a quick ratio of 0.99, a current ratio of 1.11 and a debt-to-equity ratio of 2.99.

Bristol-Myers Squibb (NYSE:BMY) last announced its earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share (EPS) for the quarter, beating the consensus estimate of ($4.53) by $0.13. Bristol-Myers Squibb had a negative net margin of 13.50% and a positive return on equity of 8.83%. The business had revenue of $11.87 billion during the quarter, compared to analyst estimates of $11.45 billion. During the same period in the previous year, the business posted $2.05 earnings per share. Bristol-Myers Squibb’s revenue for the quarter was up 4.7% on a year-over-year basis. On average, analysts expect that Bristol-Myers Squibb will post 0.58 EPS for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Friday, April 5th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $2.40 annualized dividend and a yield of 5.38%. Bristol-Myers Squibb’s payout ratio is presently -77.42%.

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.