Bull Harbor Capital LLC Buys New Position in Bristol Myers Squibb Company $BMY

Bull Harbor Capital LLC purchased a new position in Bristol Myers Squibb Company (NYSE:BMY) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 61,320 shares of the biopharmaceutical company’s stock, valued at approximately $3,719,000. Bristol Myers Squibb makes up 1.0% of Bull Harbor Capital LLC’s portfolio, making the stock its 9th biggest holding.

Several other institutional investors also recently modified their holdings of BMY. Swiss RE Ltd. purchased a new stake in shares of Bristol Myers Squibb during the fourth quarter valued at $25,000. Darwin Wealth Management LLC purchased a new stake in Bristol Myers Squibb during the second quarter valued at about $25,000. Physician Wealth Advisors Inc. boosted its holdings in shares of Bristol Myers Squibb by 73.5% in the fourth quarter. Physician Wealth Advisors Inc. now owns 477 shares of the biopharmaceutical company’s stock worth $26,000 after buying an additional 202 shares during the period. Bayban purchased a new position in shares of Bristol Myers Squibb in the fourth quarter worth approximately $31,000. Finally, EQ Wealth Advisors LLC acquired a new stake in shares of Bristol Myers Squibb during the fourth quarter valued at approximately $32,000. Institutional investors own 76.41% of the company’s stock.

Bristol Myers Squibb Trading Down 0.6%

NYSE BMY opened at $63.24 on Thursday. The company has a current ratio of 1.42, a quick ratio of 1.28 and a debt-to-equity ratio of 2.10. Bristol Myers Squibb Company has a 1-year low of $42.52 and a 1-year high of $64.96. The firm’s fifty day simple moving average is $57.79 and its 200-day simple moving average is $58.22. The company has a market capitalization of $129.14 billion, a PE ratio of 17.76, a price-to-earnings-growth ratio of 0.18 and a beta of 0.23.

Bristol Myers Squibb (NYSE:BMY) last released its quarterly earnings data on Thursday, April 30th. The biopharmaceutical company reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.42 by $0.16. Bristol Myers Squibb had a return on equity of 64.87% and a net margin of 15.01%.The firm had revenue of $11.49 billion during the quarter, compared to analysts’ expectations of $10.93 billion. During the same quarter last year, the firm earned $1.80 earnings per share. The business’s revenue for the quarter was up 2.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Bristol Myers Squibb Company will post 6.34 earnings per share for the current fiscal year.

Bristol Myers Squibb Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 3rd. Investors of record on Thursday, July 2nd will be paid a $0.63 dividend. The ex-dividend date of this dividend is Thursday, July 2nd. This represents a $2.52 annualized dividend and a dividend yield of 4.0%. Bristol Myers Squibb’s payout ratio is presently 70.79%.

Analyst Ratings Changes

A number of research firms recently commented on BMY. Citigroup reaffirmed a “neutral” rating on shares of Bristol Myers Squibb in a research note on Friday, May 1st. Bank of America decreased their target price on Bristol Myers Squibb from $67.00 to $66.00 and set a “buy” rating for the company in a research report on Friday, July 10th. Guggenheim reissued a “buy” rating and set a $72.00 price target on shares of Bristol Myers Squibb in a research report on Wednesday, April 8th. UBS Group reissued a “buy” rating on shares of Bristol Myers Squibb in a research note on Thursday, May 28th. Finally, Cantor Fitzgerald restated a “neutral” rating and set a $54.00 price objective on shares of Bristol Myers Squibb in a research report on Monday, July 6th. Eight research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $61.25.

About Bristol Myers Squibb

Bristol Myers Squibb is a global biopharmaceutical company headquartered in Princeton, New Jersey, focused on discovering, developing and delivering medicines for serious diseases. The company’s core activities include research and development, clinical development, manufacturing and commercialization of prescription pharmaceuticals across multiple therapeutic areas. BMS concentrates on advancing therapies in oncology, hematology, immunology, cardiovascular disease and specialty areas through both small molecules and biologics.

BMS’s marketed portfolio and late?stage pipeline reflect a strong emphasis on cancer and immune?mediated conditions.