Bristol-Myers Squibb (NYSE:BMY) Shares Purchased by Norden Group LLC

Norden Group LLC grew its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 7.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,633 shares of the biopharmaceutical company’s stock after acquiring an additional 773 shares during the quarter. Norden Group LLC’s holdings in Bristol-Myers Squibb were worth $546,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of BMY. Van ECK Associates Corp grew its position in Bristol-Myers Squibb by 792.6% in the fourth quarter. Van ECK Associates Corp now owns 4,030,939 shares of the biopharmaceutical company’s stock valued at $206,828,000 after acquiring an additional 3,579,324 shares in the last quarter. Pacer Advisors Inc. grew its position in Bristol-Myers Squibb by 48.0% in the 4th quarter. Pacer Advisors Inc. now owns 7,830,948 shares of the biopharmaceutical company’s stock worth $401,806,000 after purchasing an additional 2,540,360 shares during the last quarter. AustralianSuper Pty Ltd bought a new stake in Bristol-Myers Squibb during the 4th quarter valued at $86,965,000. Mizuho Markets Americas LLC acquired a new position in shares of Bristol-Myers Squibb during the third quarter valued at $82,405,000. Finally, Northern Trust Corp increased its holdings in shares of 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 valued at $1,467,989,000 after purchasing an additional 1,394,158 shares during the period. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Societe Generale lowered shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research report on Monday, March 11th. Bank of America cut shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $68.00 to $60.00 in a report on Wednesday, January 3rd. Wells Fargo & Company raised their price objective on shares of Bristol-Myers Squibb from $51.00 to $52.00 and gave the company an “equal weight” rating in a research note on Thursday, April 18th. William Blair reaffirmed a “market perform” rating on shares of Bristol-Myers Squibb in a research note on Monday, April 1st. Finally, Redburn Atlantic cut Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and lowered their price target for the company from $77.00 to $54.00 in a research report on Tuesday, February 6th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Bristol-Myers Squibb has an average rating of “Hold” and a consensus price target of $60.00.

Bristol-Myers Squibb Price Performance

NYSE BMY opened at $43.96 on Wednesday. The firm’s 50 day moving average price is $50.81 and its two-hundred day moving average price is $50.93. Bristol-Myers Squibb has a twelve month low of $43.93 and a twelve month high of $69.10. The company has a current ratio of 1.11, a quick ratio of 0.99 and a debt-to-equity ratio of 2.99.

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

Bristol-Myers Squibb Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Friday, April 5th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 5.46%. The ex-dividend date of this dividend is Thursday, April 4th. Bristol-Myers Squibb’s payout ratio is presently -77.42%.

Bristol-Myers Squibb 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.