Mirae Asset Global Investments Co. Ltd. Buys 147,246 Shares of Bristol-Myers Squibb (NYSE:BMY)

Mirae Asset Global Investments Co. Ltd. boosted its position in Bristol-Myers Squibb (NYSE:BMY) by 11.8% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,393,721 shares of the biopharmaceutical company’s stock after purchasing an additional 147,246 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Bristol-Myers Squibb were worth $70,954,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Legacy Wealth Asset Management LLC lifted its position in Bristol-Myers Squibb by 2.1% during the third quarter. Legacy Wealth Asset Management LLC now owns 10,288 shares of the biopharmaceutical company’s stock valued at $532,000 after acquiring an additional 215 shares during the last quarter. Paragon Capital Management LLC lifted its holdings in shares of Bristol-Myers Squibb by 1.1% during the 1st quarter. Paragon Capital Management LLC now owns 20,500 shares of the biopharmaceutical company’s stock valued at $1,112,000 after purchasing an additional 222 shares during the last quarter. OmniStar Financial Group Inc. boosted its position in shares of Bristol-Myers Squibb by 1.7% in the 2nd quarter. OmniStar Financial Group Inc. now owns 13,316 shares of the biopharmaceutical company’s stock worth $553,000 after purchasing an additional 224 shares in the last quarter. LGT Financial Advisors LLC grew its stake 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 worth $32,000 after buying an additional 227 shares during the last quarter. Finally, Cassia Capital Partners LLC increased its position in Bristol-Myers Squibb by 2.9% during the 3rd quarter. Cassia Capital Partners LLC now owns 8,222 shares of the biopharmaceutical company’s stock valued at $425,000 after buying an additional 235 shares in the last quarter. 76.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on BMY shares. Deutsche Bank Aktiengesellschaft dropped their price target 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. Barclays boosted their target price on shares of Bristol-Myers Squibb from $42.00 to $43.00 and gave the stock an “underweight” rating in a research report on Monday, October 7th. Citigroup cut shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $75.00 to $55.00 in a report on Friday. UBS Group boosted their price objective on shares of Bristol-Myers Squibb from $50.00 to $54.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Finally, Sanford C. Bernstein assumed coverage on Bristol-Myers Squibb in a research note on Thursday, October 17th. They issued a “market perform” rating and a $56.00 target price for the company. Two analysts have rated the stock with a sell rating, fifteen have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $53.31.

Bristol-Myers Squibb Price Performance

Shares of Bristol-Myers Squibb stock opened at $51.92 on Friday. The firm has a market cap of $105.25 billion, a PE ratio of -16.75, a P/E/G ratio of 13.75 and a beta of 0.46. Bristol-Myers Squibb has a twelve month low of $39.35 and a twelve month high of $55.29. The company has a quick ratio of 1.02, a current ratio of 1.16 and a debt-to-equity ratio of 2.86. The business has a 50-day moving average price of $50.75 and a 200 day moving average price of $46.44.

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

Bristol-Myers Squibb Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 4th will be given a $0.60 dividend. The ex-dividend date is Friday, October 4th. This represents a $2.40 annualized dividend and a dividend yield of 4.62%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is -77.42%.

Bristol-Myers Squibb Profile

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.