Doheny Asset Management CA Purchases New Holdings in Bristol-Myers Squibb (NYSE:BMY)

Doheny Asset Management CA purchased a new stake in shares of Bristol-Myers Squibb (NYSE:BMY) in the second quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 8,963 shares of the biopharmaceutical company’s stock, valued at approximately $372,000.

Other large investors also recently bought and sold shares of the company. ESL Trust Services LLC purchased a new position in Bristol-Myers Squibb during the 1st quarter valued at about $27,000. LGT Financial Advisors LLC lifted its position in Bristol-Myers Squibb by 42.7% during the 2nd quarter. LGT Financial Advisors LLC now owns 759 shares of the biopharmaceutical company’s stock valued at $32,000 after acquiring an additional 227 shares during the period. MFA Wealth Advisors LLC purchased a new position in Bristol-Myers Squibb during the 2nd quarter valued at about $39,000. Fairman Group LLC purchased a new position in Bristol-Myers Squibb in the fourth quarter worth about $42,000. Finally, Beach Investment Counsel Inc. PA purchased a new position in Bristol-Myers Squibb in the second quarter worth about $42,000. 76.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on BMY shares. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating for the company in a report on Tuesday, July 23rd. Barclays lifted their target price on shares of Bristol-Myers Squibb from $41.00 to $42.00 and gave the stock an “underweight” rating in a report on Thursday, August 22nd. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $45.00 target price on shares of Bristol-Myers Squibb in a report on Monday, July 22nd. Jefferies Financial Group lifted their target price on shares of Bristol-Myers Squibb from $49.00 to $51.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. Finally, StockNews.com raised shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Monday, July 29th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $54.67.

Bristol-Myers Squibb Stock Performance

Shares of NYSE BMY opened at $48.50 on Tuesday. The firm has a 50 day moving average of $46.09 and a 200 day moving average of $46.53. The company has a current ratio of 1.16, a quick ratio of 1.02 and a debt-to-equity ratio of 2.86. The firm has a market capitalization of $98.33 billion, a price-to-earnings ratio of -15.65, a price-to-earnings-growth ratio of 12.62 and a beta of 0.46. Bristol-Myers Squibb has a 12-month low of $39.35 and a 12-month high of $61.42.

Bristol-Myers Squibb (NYSE:BMY) last announced its earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.64 by $0.43. The company had revenue of $12.20 billion during the quarter, compared to analyst estimates of $11.54 billion. Bristol-Myers Squibb had a negative net margin of 14.06% and a positive return on equity of 12.51%. The firm’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.75 earnings per share. On average, research analysts anticipate that Bristol-Myers Squibb will post 0.77 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Friday, July 5th were given a $0.60 dividend. The ex-dividend date was Friday, July 5th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.95%. Bristol-Myers Squibb’s payout ratio is currently -77.42%.

About Bristol-Myers Squibb

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.