Bristol-Myers Squibb (NYSE:BMY) Shares Acquired by Gallacher Capital Management LLC

Gallacher Capital Management LLC boosted its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 57.1% in the fourth quarter, HoldingsChannel.com reports. The fund owned 7,857 shares of the biopharmaceutical company’s stock after purchasing an additional 2,855 shares during the period. Gallacher Capital Management LLC’s holdings in Bristol-Myers Squibb were worth $403,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Van ECK Associates Corp boosted its stake in shares of 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 worth $206,828,000 after acquiring an additional 3,579,324 shares during the last quarter. Pacer Advisors Inc. raised its position 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 during the last quarter. AustralianSuper Pty Ltd acquired a new position in shares of Bristol-Myers Squibb during the 4th quarter worth approximately $86,965,000. Mizuho Markets Americas LLC acquired a new position in Bristol-Myers Squibb during the third quarter worth $82,405,000. Finally, Northern Trust Corp raised its holdings in shares of Bristol-Myers Squibb by 5.8% during the 3rd quarter. Northern Trust Corp now owns 25,292,711 shares of the biopharmaceutical company’s stock worth $1,467,989,000 after acquiring an additional 1,394,158 shares during the period. Institutional investors and hedge funds own 76.41% of the company’s stock.

Bristol-Myers Squibb Stock Down 0.2 %

NYSE BMY traded down $0.09 during trading on Monday, reaching $43.90. 9,111,122 shares of the company’s stock were exchanged, compared to its average volume of 15,812,629. Bristol-Myers Squibb has a 1 year low of $43.33 and a 1 year high of $69.10. The stock has a market cap of $88.99 billion, a P/E ratio of -14.17, a price-to-earnings-growth ratio of 14.82 and a beta of 0.45. The company has a debt-to-equity ratio of 2.99, a quick ratio of 0.99 and a current ratio of 1.11. The company has a 50 day moving average price of $50.37 and a two-hundred day moving average price of $50.65.

Bristol-Myers Squibb (NYSE:BMY) last announced its 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. Bristol-Myers Squibb had a positive return on equity of 8.83% and a negative net margin of 13.50%. The company had revenue of $11.87 billion for the quarter, compared to the consensus estimate of $11.45 billion. During the same period last year, the business posted $2.05 EPS. The company’s revenue was up 4.7% on a year-over-year basis. On average, equities research analysts anticipate that Bristol-Myers Squibb will post 0.59 EPS for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Friday, April 5th were issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 5.47%. The ex-dividend date was Thursday, April 4th. Bristol-Myers Squibb’s payout ratio is -77.42%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. BMO Capital Markets dropped their price target 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. Barclays reduced their target price on Bristol-Myers Squibb from $51.00 to $43.00 and set an “equal weight” rating on the stock in a research report on Friday, April 26th. Wells Fargo & Company increased their price target on Bristol-Myers Squibb from $51.00 to $52.00 and gave the stock an “equal weight” rating in a report on Thursday, April 18th. Redburn Atlantic lowered shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $77.00 to $54.00 in a report on Tuesday, February 6th. Finally, William Blair reaffirmed a “market perform” rating on shares of Bristol-Myers Squibb in a research note on Monday, April 1st. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $60.00.

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.