Raymond James & Associates Acquires 922,165 Shares of Bristol-Myers Squibb (NYSE:BMY)

Raymond James & Associates lifted its stake in Bristol-Myers Squibb (NYSE:BMY) by 37.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,383,549 shares of the biopharmaceutical company’s stock after acquiring an additional 922,165 shares during the period. Raymond James & Associates owned approximately 0.17% of Bristol-Myers Squibb worth $183,490,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in BMY. Norges Bank purchased a new position in Bristol-Myers Squibb during the 4th quarter valued at about $1,560,524,000. Northern Trust Corp grew its stake in Bristol-Myers Squibb by 5.8% during the third quarter. Northern Trust Corp now owns 25,292,711 shares of the biopharmaceutical company’s stock valued at $1,467,989,000 after acquiring an additional 1,394,158 shares in the last quarter. Primecap Management Co. CA increased its holdings in Bristol-Myers Squibb by 14.6% during the 4th quarter. Primecap Management Co. CA now owns 23,534,378 shares of the biopharmaceutical company’s stock worth $1,207,549,000 after acquiring an additional 2,998,228 shares during the period. Dimensional Fund Advisors LP lifted its stake in Bristol-Myers Squibb by 7.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 16,959,807 shares of the biopharmaceutical company’s stock worth $870,198,000 after purchasing an additional 1,246,066 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in Bristol-Myers Squibb by 8.6% in the 3rd quarter. Invesco Ltd. now owns 15,606,587 shares of the biopharmaceutical company’s stock valued at $905,806,000 after purchasing an additional 1,240,902 shares during the period. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on BMY. StockNews.com downgraded Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research report on Monday, April 15th. Barclays lowered their price target on Bristol-Myers Squibb from $51.00 to $43.00 and set an “equal weight” rating on the stock in a report on Friday. Bank of America lowered Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $68.00 to $60.00 in a report on Wednesday, January 3rd. Wells Fargo & Company raised their target price on shares of Bristol-Myers Squibb from $51.00 to $52.00 and gave the company an “equal weight” rating in a research note on Thursday, April 18th. Finally, William Blair reissued a “market perform” rating on shares of Bristol-Myers Squibb in a research note on Monday, April 1st. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $60.00.

Bristol-Myers Squibb Trading Up 0.3 %

Bristol-Myers Squibb stock traded up $0.15 during trading hours on Friday, reaching $44.85. The company had a trading volume of 21,281,927 shares, compared to its average volume of 12,141,314. The firm has a market cap of $90.90 billion, a price-to-earnings ratio of -14.47, a P/E/G ratio of 16.31 and a beta of 0.39. Bristol-Myers Squibb has a 12-month low of $44.34 and a 12-month high of $69.10. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.43 and a quick ratio of 1.31. The company has a 50-day moving average price of $51.03 and a 200 day moving average price of $51.10.

Bristol-Myers Squibb (NYSE:BMY) last issued its earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) EPS for the quarter, topping the consensus estimate of ($4.53) by $0.13. The company had revenue of $11.87 billion for the quarter, compared to the consensus estimate of $11.45 billion. Bristol-Myers Squibb had a negative net margin of 13.50% and a positive return on equity of 50.04%. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the previous year, the firm earned $2.05 earnings per share. Equities analysts forecast that Bristol-Myers Squibb will post 0.58 earnings per share for the current year.

Bristol-Myers Squibb Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Friday, April 5th will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 5.35%. Bristol-Myers Squibb’s dividend payout ratio is currently -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.