First Manhattan Co. Buys 7,440 Shares of Bristol-Myers Squibb Co (BMY)

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First Manhattan Co. raised its stake in shares of Bristol-Myers Squibb Co (NYSE:BMY) by 16.6% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 52,230 shares of the biopharmaceutical company’s stock after acquiring an additional 7,440 shares during the quarter. First Manhattan Co.’s holdings in Bristol-Myers Squibb were worth $3,242,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Wealth Architects LLC grew its position in shares of Bristol-Myers Squibb by 14.0% in the third quarter. Wealth Architects LLC now owns 6,923 shares of the biopharmaceutical company’s stock valued at $430,000 after purchasing an additional 848 shares during the last quarter. Beech Hill Advisors Inc. grew its position in Bristol-Myers Squibb by 0.8% during the third quarter. Beech Hill Advisors Inc. now owns 105,500 shares of the biopharmaceutical company’s stock worth $6,549,000 after buying an additional 850 shares in the last quarter. Signature Financial Management Inc. grew its position in Bristol-Myers Squibb by 1.9% during the second quarter. Signature Financial Management Inc. now owns 46,006 shares of the biopharmaceutical company’s stock worth $2,546,000 after buying an additional 870 shares in the last quarter. DnB Asset Management AS grew its position in Bristol-Myers Squibb by 0.3% during the second quarter. DnB Asset Management AS now owns 321,762 shares of the biopharmaceutical company’s stock worth $17,806,000 after buying an additional 900 shares in the last quarter. Finally, Mcmillion Capital Management Inc. grew its position in Bristol-Myers Squibb by 1.4% during the second quarter. Mcmillion Capital Management Inc. now owns 64,044 shares of the biopharmaceutical company’s stock worth $3,544,000 after buying an additional 903 shares in the last quarter. Institutional investors own 72.32% of the company’s stock.

A number of equities research analysts recently weighed in on the company. ValuEngine downgraded Bristol-Myers Squibb from a “hold” rating to a “sell” rating in a research report on Friday. Credit Suisse Group set a $61.00 target price on Bristol-Myers Squibb and gave the stock a “hold” rating in a research report on Sunday, October 14th. Barclays lifted their target price on Bristol-Myers Squibb from $55.00 to $58.00 and gave the stock an “equal weight” rating in a research report on Friday, October 12th. Guggenheim assumed coverage on Bristol-Myers Squibb in a research report on Monday, October 8th. They set a “neutral” rating on the stock. Finally, JPMorgan Chase & Co. lifted their target price on Bristol-Myers Squibb from $70.00 to $74.00 and gave the stock an “overweight” rating in a research report on Monday, October 8th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have given a buy rating to the company’s stock. Bristol-Myers Squibb has a consensus rating of “Hold” and a consensus target price of $63.13.

Shares of BMY opened at $54.30 on Friday. The stock has a market cap of $91.50 billion, a price-to-earnings ratio of 16.56, a price-to-earnings-growth ratio of 1.50 and a beta of 0.98. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.40 and a quick ratio of 1.28. Bristol-Myers Squibb Co has a 12 month low of $49.96 and a 12 month high of $70.05.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings results on Thursday, July 26th. The biopharmaceutical company reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.14. The firm had revenue of $5.70 billion during the quarter, compared to analysts’ expectations of $5.48 billion. Bristol-Myers Squibb had a net margin of 1.74% and a return on equity of 42.58%. The company’s revenue for the quarter was up 10.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.74 earnings per share. As a group, sell-side analysts anticipate that Bristol-Myers Squibb Co will post 3.64 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 1st. Shareholders of record on Friday, October 5th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.95%. The ex-dividend date is Thursday, October 4th. Bristol-Myers Squibb’s dividend payout ratio is 53.16%.

Bristol-Myers Squibb Company Profile

Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, and distributes biopharmaceutical products worldwide. The company offers drugs in various therapeutic classes, such as oncology; cardiovascular; immunoscience; and virology, including human immunodeficiency virus (HIV) infection.

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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 Co (NYSE:BMY).

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

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