Cooper Financial Group Boosts Stock Position in Bristol Myers Squibb Company (NYSE:BMY)

Cooper Financial Group lifted its position in Bristol Myers Squibb Company (NYSE:BMY) by 12.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 15,852 shares of the biopharmaceutical company’s stock after buying an additional 1,700 shares during the quarter. Cooper Financial Group’s holdings in Bristol Myers Squibb were worth $967,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the business. Brighton Jones LLC increased its stake in Bristol Myers Squibb by 33.4% in the 4th quarter. Brighton Jones LLC now owns 19,728 shares of the biopharmaceutical company’s stock valued at $1,116,000 after purchasing an additional 4,935 shares in the last quarter. Bank Pictet & Cie Europe AG acquired a new position in Bristol Myers Squibb in the fourth quarter valued at $13,094,000. Townsquare Capital LLC boosted its holdings in Bristol Myers Squibb by 51.8% in the fourth quarter. Townsquare Capital LLC now owns 227,299 shares of the biopharmaceutical company’s stock valued at $12,856,000 after acquiring an additional 77,605 shares during the last quarter. Sagespring Wealth Partners LLC acquired a new position in Bristol Myers Squibb in the fourth quarter valued at $892,000. Finally, Advisors Capital Management LLC lifted its stake in shares of Bristol Myers Squibb by 12.1% during the fourth quarter. Advisors Capital Management LLC now owns 778,963 shares of the biopharmaceutical company’s stock worth $44,058,000 after purchasing an additional 83,786 shares in the last quarter. 76.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BMY has been the topic of several recent analyst reports. Citigroup cut their price target on Bristol Myers Squibb from $51.00 to $47.00 and set a “neutral” rating on the stock in a research note on Friday, August 1st. Wall Street Zen cut Bristol Myers Squibb from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 6th. Argus raised Bristol Myers Squibb to a “hold” rating in a report on Friday, April 25th. William Blair reissued a “market perform” rating on shares of Bristol Myers Squibb in a report on Friday, April 25th. Finally, Jefferies Financial Group lowered their price objective on Bristol Myers Squibb from $70.00 to $68.00 and set a “buy” rating for the company in a report on Wednesday, April 23rd. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Bristol Myers Squibb presently has a consensus rating of “Hold” and a consensus target price of $56.38.

Bristol Myers Squibb Stock Performance

Shares of Bristol Myers Squibb stock opened at $45.96 on Monday. The firm has a 50 day simple moving average of $47.32 and a 200 day simple moving average of $51.82. The company has a debt-to-equity ratio of 2.54, a current ratio of 1.21 and a quick ratio of 1.11. Bristol Myers Squibb Company has a fifty-two week low of $42.96 and a fifty-two week high of $63.33. The firm has a market cap of $93.55 billion, a P/E ratio of 18.53, a P/E/G ratio of 2.35 and a beta of 0.36.

Bristol Myers Squibb (NYSE:BMY) last released its earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.39. Bristol Myers Squibb had a net margin of 10.58% and a return on equity of 80.04%. The firm had revenue of $12.27 billion during the quarter, compared to analyst estimates of $11.32 billion. During the same quarter in the previous year, the business earned $2.07 EPS. The business’s quarterly revenue was up .6% compared to the same quarter last year. Sell-side analysts predict that Bristol Myers Squibb Company will post 6.74 earnings per share for the current fiscal year.

Bristol Myers Squibb Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Thursday, July 3rd were issued a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 5.4%. The ex-dividend date of this dividend was Thursday, July 3rd. Bristol Myers Squibb’s payout ratio is currently 100.00%.

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.