Several hedge funds have recently changed their investments in Bristol-Myers Squibb. Global Assets Advisory LLC bought a new stake worth about $5.16 million in Q1. Lincoln National Corp increased its shares by 7.7%, now holding 42,894 shares valued at $2.33 million. Chapin Davis Inc. increased its stake by 22.6%, owning 22,544 shares worth $1.22 million after purchasing 4,159 additional shares. Sierra Summit Advisors LLC also entered with a stake valued at $755,000 in Q4. Lastly, Accel Wealth Management grew their holdings by 19%, owning 4,934 shares worth $268,000 after acquiring 788 more shares. Institutional investors and hedge funds own 76.41% of the companys stock.
Bristol-Myers Squibb Stock Down 0.4%
BMY stock opened at $52.19 on Friday. The company’s current ratio is 1.16, quick ratio 1.02, and debt-to-equity ratio 2.86. The 50-day moving average is $49.75, and the 200-day moving average is $46.43. Its 52-week low was $39.35, and high was $57.65, with a market cap of $105.79 billion. The price-to-earnings ratio is -16.84, and the price-to-earnings-growth ratio is 13.75, with a beta of 0.46.
Bristol-Myers Squibb reported earnings on July 26, showing $2.07 EPS, exceeding estimates of $1.64. The net margin was -14.06%, but the return on equity was positive at 12.51%. Q2 revenue was $12.20 billion, surpassing the expected $11.54 billion, with an 8.7% year-over-year increase. Analysts predict an EPS of 0.77 for this fiscal year.
Bristol-Myers Squibb Dividend Announcement
The company announced a quarterly dividend of $0.60 per share, payable on November 1st, for investors on record by October 4th. This gives an annualized dividend of $2.40 and a yield of 4.60%, with a current payout ratio of -77.42%.
Analyst Upgrades and Downgrades
BMY has received various analyst ratings. StockNews.com upgraded it to “strong-buy” on July 29. Deutsche Bank lowered its price target from $53 to $45, maintaining a “hold” rating. BMO Capital Markets has a “market perform” rating with a $48 price target. Barclays raised its target from $42 to $43 but rated it “underweight.” Jefferies Financial Group increased the target from $49 to $51 with a “hold” rating. Overall, two analysts rated it as sell, thirteen as hold, one as buy, and one as strong buy, with an average rating of “Hold” and target price of $53.00.
Bristol-Myers Squibb Company Profile
Bristol-Myers Squibb develops and sells biopharmaceutical products globally, focusing on diseases in hematology, oncology, cardiovascular, immunology, and more. Key products include Eliquis, Opdivo, Pomalyst, Orencia, and Sprycel.
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