Several hedge funds have recently adjusted their investments in Bristol-Myers Squibb. Global Assets Advisory LLC bought $5.16 million worth of shares in Q1. Lincoln National Corp increased its stake by 7.7%, now holding 42,894 shares valued at $2.33 million. Chapin Davis Inc. raised its holdings by 22.6% to 22,544 shares worth $1.22 million. Sierra Summit Advisors LLC also bought in, investing $755,000 in Q4. Accel Wealth Management upped its stake by 19.0%, owning 4,934 shares valued at $268,000. Institutional investors hold 76.41% of the stock.
Bristol-Myers Squibb Stock Update
BMY stock opened at $52.19 on Friday. Key financial metrics include a current ratio of 1.16, a quick ratio of 1.02, and a debt-to-equity ratio of 2.86. The stock’s 50-day average is $49.75, while the 200-day average is $46.43. The 52-week low and high are $39.35 and $57.65, respectively, with a market cap of $105.79 billion and a P/E ratio of -16.84.
Bristol-Myers Squibb reported earnings on July 26, posting $2.07 EPS, exceeding estimates of $1.64. Q2 revenue was $12.20 billion, surpassing the expected $11.54 billion, marking an 8.7% increase year-over-year. Analysts predict an EPS of 0.77 for the current fiscal year.
Dividend Announcement
The company announced a quarterly dividend of $0.60, payable on November 1 to shareholders as of October 4. This results in a $2.40 annual dividend and a 4.60% yield, with a payout ratio of -77.42%.
Analyst Ratings
BMY has received mixed ratings: StockNews.com upgraded it to strong-buy. Deutsche Bank reduced its target from $53.00 to $45.00 with a hold rating. BMO Capital maintains a market perform rating with a $48.00 target, while Barclays set a target of $43.00 with an underweight rating. Overall, analysts rate it as Hold with a target price of $53.00.
Bristol-Myers Squibb Overview
Bristol-Myers Squibb develops and sells biopharmaceutical products globally, focusing on areas such as oncology and immunology. Notable products include Eliquis for atrial fibrillation and Opdivo for various cancers.
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Want to know more about hedge fund positions in BMY? Check out HoldingsChannel.com for the latest filings and trades.
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