Arthur M. Cohen & Associates LLC Makes New Investment in Bristol-Myers Squibb (NYSE:BMY)

Arthur M. Cohen & Associates LLC bought a new position in shares of Bristol-Myers Squibb (NYSE:BMY) during the third quarter, HoldingsChannel.com reports. The firm bought 4,010 shares of the biopharmaceutical company’s stock, valued at approximately $212,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in BMY. Capital International Investors boosted its position in shares of Bristol-Myers Squibb by 14.1% during the 1st quarter. Capital International Investors now owns 70,203,814 shares of the biopharmaceutical company’s stock worth $3,807,153,000 after acquiring an additional 8,675,322 shares in the last quarter. M&G Plc acquired a new stake in shares of Bristol-Myers Squibb during the 1st quarter worth approximately $392,608,000. Price T Rowe Associates Inc. MD boosted its position in shares of Bristol-Myers Squibb by 77.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,547,823 shares of the biopharmaceutical company’s stock worth $680,469,000 after acquiring an additional 5,461,767 shares in the last quarter. Federated Hermes Inc. boosted its position in shares of Bristol-Myers Squibb by 86.3% during the 2nd quarter. Federated Hermes Inc. now owns 7,546,311 shares of the biopharmaceutical company’s stock worth $313,398,000 after acquiring an additional 3,495,704 shares in the last quarter. Finally, Swedbank AB acquired a new stake in shares of Bristol-Myers Squibb during the 1st quarter worth approximately $158,223,000. Institutional investors and hedge funds own 76.41% of the company’s stock.

Analyst Ratings Changes

BMY has been the topic of several analyst reports. Cantor Fitzgerald reiterated a “neutral” rating and set a $50.00 price target on shares of Bristol-Myers Squibb in a research report on Friday, October 18th. TD Cowen increased their price objective on shares of Bristol-Myers Squibb from $53.00 to $59.00 and gave the company a “hold” rating in a research note on Monday, October 7th. StockNews.com raised shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 29th. UBS Group increased their price objective on shares of Bristol-Myers Squibb from $50.00 to $54.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. Finally, BMO Capital Markets increased their price objective on shares of Bristol-Myers Squibb from $53.00 to $57.00 and gave the company a “market perform” rating in a research note on Friday. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $53.00.

Bristol-Myers Squibb Trading Down 0.7 %

Shares of BMY stock traded down $0.37 during trading hours on Tuesday, hitting $55.08. 463,520 shares of the company’s stock traded hands, compared to its average volume of 14,401,733. The stock’s 50 day simple moving average is $51.41 and its 200 day simple moving average is $46.61. Bristol-Myers Squibb has a 12 month low of $39.35 and a 12 month high of $56.20. The company has a debt-to-equity ratio of 2.83, a current ratio of 1.24 and a quick ratio of 1.09.

Bristol-Myers Squibb (NYSE:BMY) last announced its earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share for the quarter, topping analysts’ consensus estimates of $1.49 by $0.31. Bristol-Myers Squibb had a negative net margin of 15.30% and a positive return on equity of 11.94%. The business had revenue of $11.89 billion during the quarter, compared to the consensus estimate of $11.26 billion. During the same quarter last year, the firm earned $2.00 earnings per share. Bristol-Myers Squibb’s quarterly revenue was up 8.4% on a year-over-year basis. Sell-side analysts predict that Bristol-Myers Squibb will post 0.83 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 4th were paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 4.36%. The ex-dividend date was Friday, October 4th. Bristol-Myers Squibb’s dividend payout ratio is presently -66.85%.

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.