Bristol-Myers Squibb (NYSE:BMY) Shares Purchased by Meeder Advisory Services Inc.

Meeder Advisory Services Inc. boosted its holdings in Bristol-Myers Squibb (NYSE:BMY) by 20.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 25,052 shares of the biopharmaceutical company’s stock after buying an additional 4,174 shares during the period. Meeder Advisory Services Inc.’s holdings in Bristol-Myers Squibb were worth $1,040,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Global Assets Advisory LLC acquired a new stake in Bristol-Myers Squibb in the 1st quarter worth about $5,161,000. Lincoln National Corp boosted its stake in Bristol-Myers Squibb by 7.7% in the 1st quarter. Lincoln National Corp now owns 42,894 shares of the biopharmaceutical company’s stock worth $2,326,000 after buying an additional 3,052 shares during the last quarter. Chapin Davis Inc. boosted its stake in Bristol-Myers Squibb by 22.6% in the 1st quarter. Chapin Davis Inc. now owns 22,544 shares of the biopharmaceutical company’s stock worth $1,223,000 after buying an additional 4,159 shares during the last quarter. Sierra Summit Advisors LLC acquired a new stake in Bristol-Myers Squibb in the 4th quarter worth about $755,000. Finally, Scotia Capital Inc. boosted its stake in Bristol-Myers Squibb by 48.6% in the 4th quarter. Scotia Capital Inc. now owns 236,724 shares of the biopharmaceutical company’s stock worth $12,146,000 after buying an additional 77,471 shares during the last quarter. 76.41% of the stock is owned by institutional investors and hedge funds.

Bristol-Myers Squibb Price Performance

BMY stock opened at $49.13 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.16 and a debt-to-equity ratio of 2.86. Bristol-Myers Squibb has a 52-week low of $39.35 and a 52-week high of $60.55. The stock’s 50 day moving average is $46.79 and its two-hundred day moving average is $46.53. The company has a market capitalization of $99.61 billion, a PE ratio of -15.85, a P/E/G ratio of 12.59 and a beta of 0.46.

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

Bristol-Myers Squibb Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 4th will be issued a $0.60 dividend. The ex-dividend date is Friday, October 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.88%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is -77.42%.

Wall Street Analyst Weigh In

BMY has been the topic of several research analyst reports. Barclays lifted their price objective on Bristol-Myers Squibb from $41.00 to $42.00 and gave the company an “underweight” rating in a research note on Thursday, August 22nd. TD Cowen lifted their price objective on Bristol-Myers Squibb from $45.00 to $53.00 and gave the company a “hold” rating in a research note on Monday, August 12th. Deutsche Bank Aktiengesellschaft reduced their price objective on Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating on the stock in a research note on Tuesday, July 23rd. StockNews.com raised Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 29th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $45.00 price objective on shares of Bristol-Myers Squibb in a research note on Monday, July 22nd. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Bristol-Myers Squibb currently has an average rating of “Hold” and a consensus price target of $54.67.

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.