Paragon Capital Management Ltd Acquires New Position in Bristol-Myers Squibb (NYSE:BMY)

Paragon Capital Management Ltd bought a new position in Bristol-Myers Squibb (NYSE:BMY) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 3,909 shares of the biopharmaceutical company’s stock, valued at approximately $202,000.

Other institutional investors have also modified their holdings of the company. GSA Capital Partners LLP raised its holdings in Bristol-Myers Squibb by 4.1% in the fourth quarter. GSA Capital Partners LLP now owns 66,286 shares of the biopharmaceutical company’s stock worth $3,401,000 after purchasing an additional 2,600 shares in the last quarter. Optimist Retirement Group LLC purchased a new position in Bristol-Myers Squibb in the fourth quarter worth $410,000. Oarsman Capital Inc. increased its position in shares of Bristol-Myers Squibb by 2.0% during the fourth quarter. Oarsman Capital Inc. now owns 28,021 shares of the biopharmaceutical company’s stock worth $1,438,000 after purchasing an additional 554 shares in the last quarter. FIL Ltd lifted its holdings in shares of Bristol-Myers Squibb by 1.4% during the 4th quarter. FIL Ltd now owns 7,681,165 shares of the biopharmaceutical company’s stock valued at $394,121,000 after purchasing an additional 107,009 shares during the last quarter. Finally, Voisard Asset Management Group Inc. acquired a new stake in shares of Bristol-Myers Squibb in the 4th quarter worth $73,000. 76.41% of the stock is owned by hedge funds and other institutional investors.

Bristol-Myers Squibb Price Performance

Shares of NYSE BMY opened at $52.19 on Friday. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.16 and a quick ratio of 1.02. The stock has a market capitalization of $105.79 billion, a price-to-earnings ratio of -16.84, a PEG ratio of 13.75 and a beta of 0.46. The firm’s 50 day simple moving average is $49.75 and its 200-day simple moving average is $46.43. Bristol-Myers Squibb has a 12 month low of $39.35 and a 12 month high of $57.65.

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

Bristol-Myers Squibb Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 4th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 4.60%. The ex-dividend date of this dividend is Friday, October 4th. Bristol-Myers Squibb’s payout ratio is currently -77.42%.

Analyst Ratings Changes

BMY has been the topic of a number of research analyst reports. Cantor Fitzgerald restated a “neutral” rating and set a $50.00 price target on shares of Bristol-Myers Squibb in a research note on Monday, September 16th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating on the stock in a research report on Tuesday, July 23rd. UBS Group raised their price target on shares of Bristol-Myers Squibb from $50.00 to $54.00 and gave the stock a “neutral” rating in a report on Wednesday. BMO Capital Markets reissued a “market perform” rating and set a $48.00 price objective on shares of Bristol-Myers Squibb in a report on Monday, September 23rd. Finally, Jefferies Financial Group raised their target price on Bristol-Myers Squibb from $49.00 to $51.00 and gave the stock a “hold” rating in a research note on Wednesday, August 28th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Bristol-Myers Squibb currently has an average rating of “Hold” and an average price target of $53.00.

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.