Summit Global Investments Invests $809,000 in Bristol Myers Squibb Company $BMY

Summit Global Investments purchased a new position in shares of Bristol Myers Squibb Company (NYSE:BMY) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 17,933 shares of the biopharmaceutical company’s stock, valued at approximately $809,000.

Other institutional investors also recently bought and sold shares of the company. Ruffer LLP acquired a new position in shares of Bristol Myers Squibb during the third quarter valued at approximately $6,844,000. Tidemark LLC increased its position in shares of Bristol Myers Squibb by 555.8% during the third quarter. Tidemark LLC now owns 8,512 shares of the biopharmaceutical company’s stock worth $384,000 after purchasing an additional 7,214 shares in the last quarter. Great Lakes Advisors LLC raised its stake in Bristol Myers Squibb by 1.9% in the 3rd quarter. Great Lakes Advisors LLC now owns 26,455 shares of the biopharmaceutical company’s stock valued at $1,193,000 after purchasing an additional 497 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Bristol Myers Squibb by 4.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,211,845 shares of the biopharmaceutical company’s stock valued at $99,754,000 after purchasing an additional 93,528 shares in the last quarter. Finally, Retirement Planning Co of New England Inc. boosted its stake in Bristol Myers Squibb by 3.2% during the 3rd quarter. Retirement Planning Co of New England Inc. now owns 11,575 shares of the biopharmaceutical company’s stock worth $522,000 after purchasing an additional 363 shares during the last quarter. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Bristol Myers Squibb Trading Up 1.4%

BMY opened at $55.03 on Friday. The stock has a market capitalization of $112.02 billion, a PE ratio of 18.59, a P/E/G ratio of 0.17 and a beta of 0.29. Bristol Myers Squibb Company has a one year low of $42.52 and a one year high of $63.33. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.17 and a current ratio of 1.27. The business’s 50 day moving average price is $53.41 and its 200 day moving average price is $48.64.

Bristol Myers Squibb (NYSE:BMY) last posted its earnings results on Thursday, October 30th. The biopharmaceutical company reported $1.63 EPS for the quarter, beating analysts’ consensus estimates of $1.52 by $0.11. The company had revenue of $12.22 billion for the quarter, compared to the consensus estimate of $11.75 billion. Bristol Myers Squibb had a return on equity of 76.53% and a net margin of 12.57%.The company’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.80 earnings per share. As a group, equities research analysts expect that Bristol Myers Squibb Company will post 6.74 EPS for the current year.

Bristol Myers Squibb Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Friday, January 2nd will be given a $0.63 dividend. The ex-dividend date of this dividend is Friday, January 2nd. This is an increase from Bristol Myers Squibb’s previous quarterly dividend of $0.62. This represents a $2.52 dividend on an annualized basis and a yield of 4.6%. Bristol Myers Squibb’s dividend payout ratio is currently 85.14%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on BMY shares. Citigroup reiterated a “neutral” rating and issued a $60.00 target price (up from $53.00) on shares of Bristol Myers Squibb in a research report on Tuesday. Scotiabank reiterated a “sector perform” rating and issued a $60.00 price objective (up previously from $53.00) on shares of Bristol Myers Squibb in a report on Friday, January 9th. Cantor Fitzgerald restated a “neutral” rating on shares of Bristol Myers Squibb in a report on Monday, November 24th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $57.00 price target (up previously from $51.00) on shares of Bristol Myers Squibb in a report on Tuesday, December 2nd. Finally, Sanford C. Bernstein reiterated a “market perform” rating on shares of Bristol Myers Squibb in a research report on Monday, November 3rd. Seven equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $57.43.

Bristol Myers Squibb Profile

Bristol Myers Squibb is a global biopharmaceutical company headquartered in Princeton, New Jersey, focused on discovering, developing and delivering medicines for serious diseases. The company’s core activities include research and development, clinical development, manufacturing and commercialization of prescription pharmaceuticals across multiple therapeutic areas. BMS concentrates on advancing therapies in oncology, hematology, immunology, cardiovascular disease and specialty areas through both small molecules and biologics.

BMS’s marketed portfolio and late?stage pipeline reflect a strong emphasis on cancer and immune?mediated conditions.