Oppenheimer Asset Management Inc. Purchases New Position in Bristol-Myers Squibb Company (NYSE:BMY)

Oppenheimer Asset Management Inc. purchased a new position in Bristol-Myers Squibb Company (NYSE:BMY) during the first quarter, Holdings Channel reports. The institutional investor purchased 81,271 shares of the biopharmaceutical company’s stock, valued at approximately $4,419,000.

Other hedge funds have also recently made changes to their positions in the company. Whalerock Point Partners LLC boosted its position in Bristol-Myers Squibb by 0.6% in the fourth quarter. Whalerock Point Partners LLC now owns 31,657 shares of the biopharmaceutical company’s stock worth $1,850,000 after buying an additional 185 shares in the last quarter. HighPoint Advisor Group LLC boosted its position in Bristol-Myers Squibb by 58.6% in the fourth quarter. HighPoint Advisor Group LLC now owns 27,042 shares of the biopharmaceutical company’s stock worth $1,545,000 after buying an additional 9,989 shares in the last quarter. Perigon Wealth Management LLC boosted its position in Bristol-Myers Squibb by 5.4% in the fourth quarter. Perigon Wealth Management LLC now owns 13,393 shares of the biopharmaceutical company’s stock worth $767,000 after buying an additional 683 shares in the last quarter. RMB Capital Management LLC boosted its position in Bristol-Myers Squibb by 7.3% in the fourth quarter. RMB Capital Management LLC now owns 187,648 shares of the biopharmaceutical company’s stock worth $10,966,000 after buying an additional 12,800 shares in the last quarter. Finally, Wealthfront Inc. boosted its position in Bristol-Myers Squibb by 155.6% in the fourth quarter. Wealthfront Inc. now owns 35,512 shares of the biopharmaceutical company’s stock worth $2,075,000 after buying an additional 21,617 shares in the last quarter. 69.79% of the stock is currently owned by hedge funds and other institutional investors.

Bristol-Myers Squibb Company (NYSE:BMY) traded down 0.3575% during midday trading on Thursday, reaching $57.1948. 1,367,756 shares of the company traded hands. The company’s 50-day moving average price is $55.81 and its 200 day moving average price is $54.58. Bristol-Myers Squibb Company has a 12 month low of $46.01 and a 12 month high of $61.30. The firm has a market capitalization of $93.80 billion, a PE ratio of 20.8893 and a beta of 1.17.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Thursday, July 27th. The biopharmaceutical company reported $0.74 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.01. Bristol-Myers Squibb had a return on equity of 32.33% and a net margin of 22.66%. The business had revenue of $5.14 billion during the quarter, compared to analyst estimates of $5.09 billion. During the same quarter last year, the company posted $0.69 EPS. Bristol-Myers Squibb’s revenue for the quarter was up 5.6% on a year-over-year basis. On average, equities analysts anticipate that Bristol-Myers Squibb Company will post $2.97 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 1st. Investors of record on Friday, July 7th were given a $0.39 dividend. The ex-dividend date was Wednesday, July 5th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.72%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is 56.73%.

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A number of equities analysts have weighed in on the stock. Vetr cut shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating and set a $63.81 price objective for the company. in a research report on Wednesday. Goldman Sachs Group, Inc. (The) restated a “buy” rating and set a $63.00 price objective on shares of Bristol-Myers Squibb in a research report on Wednesday. BMO Capital Markets restated an “underperform” rating and set a $47.00 price objective (down from $51.00) on shares of Bristol-Myers Squibb in a research report on Wednesday, July 26th. Leerink Swann reduced their price objective on shares of Bristol-Myers Squibb from $66.00 to $61.00 and set an “outperform” rating for the company in a research report on Friday, July 28th. Finally, Jefferies Group LLC restated a “buy” rating and set a $63.00 price objective on shares of Bristol-Myers Squibb in a research report on Wednesday, July 12th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and twelve have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $62.67.

In related news, Director Theodore R. Samuels II purchased 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 2nd. The stock was acquired at an average price of $55.94 per share, for a total transaction of $335,640.00. Following the transaction, the director now directly owns 18,000 shares of the company’s stock, valued at approximately $1,006,920. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.23% of the company’s stock.

About Bristol-Myers Squibb

Bristol-Myers Squibb Company is engaged in the discovery, development, licensing, manufacturing, marketing, distribution and sale of biopharmaceutical products. The Company’s pharmaceutical products include chemically synthesized drugs, or small molecules, and products produced from biological processes called biologics.

Want to see what other hedge funds are holding BMY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bristol-Myers Squibb Company (NYSE:BMY).

Institutional Ownership by Quarter for Bristol-Myers Squibb (NYSE:BMY)

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