Addison Advisors LLC Raises Stake in Bristol-Myers Squibb (NYSE:BMY)

Addison Advisors LLC boosted its holdings in Bristol-Myers Squibb (NYSE:BMY – Free Report) by 7.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,298 shares of the biopharmaceutical company’s stock after purchasing an additional 281 shares during the quarter. Addison Advisors LLC’s holdings in Bristol-Myers Squibb were worth $178,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have recently modified their holdings of the business. Traynor Capital Management Inc. increased its stake in Bristol-Myers Squibb by 2.8% in the first quarter. Traynor Capital Management Inc. now owns 7,672 shares of the biopharmaceutical company’s stock worth $416,000 after buying an additional 207 shares in the last quarter. Newbridge Financial Services Group Inc. grew its holdings in Bristol-Myers Squibb by 12.8% in the first quarter. Newbridge Financial Services Group Inc. now owns 1,910 shares of the biopharmaceutical company’s stock valued at $104,000 after buying an additional 216 shares during the period. Bfsg LLC boosted its holdings in Bristol-Myers Squibb by 24.4% in the first quarter. Bfsg LLC now owns 1,120 shares of the biopharmaceutical company’s stock valued at $61,000 after buying an additional 220 shares during the period. Paragon Capital Management LLC boosted its holdings 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 valued at $1,112,000 after buying an additional 222 shares during the period. Finally, OmniStar Financial Group Inc. raised its holdings in Bristol-Myers Squibb by 1.7% during the second quarter. OmniStar Financial Group Inc. now owns 13,316 shares of the biopharmaceutical company’s stock valued at $553,000 after buying an additional 224 shares during the period. Hedge funds and other institutional investors own 76.41% of the company’s shares.

Bristol-Myers Squibb trade down 2.2%

Shares of NYSE BMY opened at $48.71 on Friday. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.02, and a current ratio of 1.16. The company’s 50-day moving average price is $45.95 and its 200-day moving average price is $46.60. Bristol-Myers Squibb has a fifty-two week low of $39.35 and a fifty-two week high of $61.42. The company has a market cap of $98.74 billion, a price-to-earnings ratio of -15.71, a PEG ratio of 12.92 and a beta of 0.44.

Bristol-Myers Squibb (NYSE:BMY – Get Your Free Report ) last announced its quarterly earnings data on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts’ expectations of $11.54 billion. In the same quarter last year, the company earned $1.75 per share. Bristol-Myers Squibb’s revenue was up 8.7% compared to the same quarter last year. On average, sell-side analysts expect that Bristol-Myers Squibb will post 0.77 earnings per share for the current year.

Bristol-Myers Squibb announces dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Friday, July 5th were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Friday, July 5th. This represents an annualized dividend of $2.40 and a yield of 4.93%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently -77.42%.

Analysts set new price targets

BMY has been the subject of several recent research reports. Jefferies Financial Group upped their target price on Bristol-Myers Squibb from $49.00 to $51.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. Deutsche Bank Aktiengesellschaft cut their price target on Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating for the company in a report on Tuesday, July 23rd. Cantor Fitzgerald reissued a “neutral” rating and set a $45.00 target price on shares of Bristol-Myers Squibb in a report on Monday, July 22nd. StockNews.com raised Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Monday, July 29th. Finally, TD Cowen boosted their price objective on Bristol-Myers Squibb from $45.00 to $53.00 and gave the stock a “hold” rating in a research note on Monday, 12 August. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $54.67, based on data from MarketBeat.com.

Check out our latest research report on BMY

Bristol-Myers Squibb profile

(Free report)

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. The company’s products include Eliquis for reducing the risk of stroke/systemic embolism in non-valvular atrial fibrillation and for the treatment of DVT/PE; Opdivo for various anticancer 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.

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