Krane Funds Advisors LLC Acquires 829 Shares of Bristol-Myers Squibb (NYSE:BMY)

Krane Funds Advisors LLC grew its holdings in Bristol-Myers Squibb (NYSE:BMY) by 8.4% in the 3rd quarter, HoldingsChannel reports. The firm owned 10,753 shares of the biopharmaceutical company’s stock after buying an additional 829 shares during the quarter. Krane Funds Advisors LLC’s holdings in Bristol-Myers Squibb were worth $556,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Paragon Capital Management LLC raised its stake in Bristol-Myers Squibb by 1.1% in the first quarter. Paragon Capital Management LLC now owns 20,500 shares of the biopharmaceutical company’s stock worth $1,112,000 after buying an additional 222 shares in the last quarter. OmniStar Financial Group Inc. lifted its stake in shares of Bristol-Myers Squibb by 1.7% during 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 during the last quarter. LGT Financial Advisors LLC boosted its position in Bristol-Myers Squibb by 42.7% during the second quarter. LGT Financial Advisors LLC now owns 759 shares of the biopharmaceutical company’s stock valued at $32,000 after purchasing an additional 227 shares in the last quarter. Cassia Capital Partners LLC raised its holdings in Bristol-Myers Squibb by 2.9% in the third quarter. Cassia Capital Partners LLC now owns 8,222 shares of the biopharmaceutical company’s stock worth $425,000 after purchasing an additional 235 shares in the last quarter. Finally, Bell Investment Advisors Inc lifted its position in shares of Bristol-Myers Squibb by 18.1% during the first quarter. Bell Investment Advisors Inc now owns 1,537 shares of the biopharmaceutical company’s stock valued at $83,000 after buying an additional 236 shares during the last quarter. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Trading Down 2.1 %

Shares of BMY stock opened at $52.12 on Tuesday. Bristol-Myers Squibb has a fifty-two week low of $39.35 and a fifty-two week high of $56.77. The firm has a market capitalization of $105.65 billion, a P/E ratio of -16.81, a PEG ratio of 13.75 and a beta of 0.46. The stock’s fifty day moving average is $50.46 and its two-hundred day moving average is $46.34. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.02 and a current ratio of 1.16.

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, topping analysts’ consensus estimates 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 analyst estimates of $11.54 billion. During the same quarter in the previous year, the company posted $1.75 earnings per share. The firm’s revenue for the quarter was up 8.7% compared to the same quarter last year. Research analysts expect 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 disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors 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 annualized dividend and a yield of 4.60%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently -77.42%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on BMY shares. BMO Capital Markets reaffirmed a “market perform” rating and issued a $48.00 price objective on shares of Bristol-Myers Squibb in a research report on Monday, September 23rd. Barclays increased their price objective on Bristol-Myers Squibb from $42.00 to $43.00 and gave the company an “underweight” rating in a report on Monday, October 7th. StockNews.com upgraded Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 29th. Deutsche Bank Aktiengesellschaft decreased their price target on Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating for the company in a research note on Tuesday, July 23rd. Finally, TD Cowen upped their price objective on shares of Bristol-Myers Squibb from $53.00 to $59.00 and gave the company a “hold” rating in a report on Monday, October 7th. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $53.20.

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.