Fairman Group LLC Purchases New Position in Bristol-Myers Squibb (NYSE:BMY)

Fairman Group LLC acquired a new stake in Bristol-Myers Squibb (NYSE:BMYFree Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 819 shares of the biopharmaceutical company’s stock, valued at approximately $42,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank acquired a new stake in shares of Bristol-Myers Squibb in the fourth quarter worth approximately $1,560,524,000. Van ECK Associates Corp boosted its stake in Bristol-Myers Squibb by 792.6% during the fourth quarter. Van ECK Associates Corp now owns 4,030,939 shares of the biopharmaceutical company’s stock worth $206,828,000 after buying 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 fourth quarter. Primecap Management Co. CA now owns 23,534,378 shares of the biopharmaceutical company’s stock worth $1,207,549,000 after buying 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 fourth quarter. Pacer Advisors Inc. now owns 7,830,948 shares of the biopharmaceutical company’s stock worth $401,806,000 after buying 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 fourth quarter. Franklin Resources Inc. now owns 9,357,199 shares of the biopharmaceutical company’s stock worth $480,118,000 after buying an additional 2,510,134 shares during the last quarter. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Bristol-Myers Squibb Price Performance

NYSE:BMY traded down $0.02 during trading hours on Tuesday, hitting $40.95. The stock had a trading volume of 2,294,269 shares, compared to its average volume of 15,340,197. 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 has a 1-year low of $39.91 and a 1-year high of $66.38. The business has a 50 day simple moving average of $44.30 and a two-hundred day simple moving average of $48.67.

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

Bristol-Myers Squibb Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Societe Generale cut shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research report on Monday, March 11th. William Blair reiterated a “market perform” rating on shares of Bristol-Myers Squibb in a research report on Monday, April 1st. StockNews.com cut shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research report on Monday. Barclays lowered their price objective 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, April 26th. Finally, BMO Capital Markets lowered 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 research note on Friday, April 26th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $60.00.

Read Our Latest Analysis on Bristol-Myers Squibb

About Bristol-Myers Squibb

(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.

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

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