Guinness Asset Management LTD lifted its stake in shares of Bristol-Myers Squibb (NYSE:BMY – Get Rating) by 2.2% during the 1st quarter, HoldingsChannel.com reports. The firm owned 416,515 shares of the biopharmaceutical company’s stock after buying an additional 9,164 shares during the quarter. Bristol-Myers Squibb accounts for about 1.1% of Guinness Asset Management LTD’s holdings, making the stock its 27th biggest holding. Guinness Asset Management LTD’s holdings in Bristol-Myers Squibb were worth $30,418,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. Steward Financial Group LLC bought a new position in shares of Bristol-Myers Squibb during the fourth quarter worth about $29,000. Horan Securities Inc. bought a new position in shares of Bristol-Myers Squibb during the fourth quarter worth about $29,000. Guardian Wealth Management Inc. bought a new position in shares of Bristol-Myers Squibb during the fourth quarter worth about $32,000. Consolidated Planning Corp bought a new position in shares of Bristol-Myers Squibb during the third quarter worth about $34,000. Finally, Leverty Financial Group LLC bought a new position in shares of Bristol-Myers Squibb during the fourth quarter worth about $37,000. 73.07% of the stock is currently owned by institutional investors and hedge funds.
BMY has been the topic of several research analyst reports. Raymond James cut shares of Bristol-Myers Squibb from an “outperform” rating to a “market perform” rating in a research report on Friday, June 3rd. They noted that the move was a valuation call. Wells Fargo & Company raised their target price on shares of Bristol-Myers Squibb from $65.00 to $70.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 17th. Citigroup reissued a “buy” rating and issued a $90.00 target price on shares of Bristol-Myers Squibb in a report on Friday, June 3rd. Bank of America raised their target price on shares of Bristol-Myers Squibb from $78.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, June 6th. Finally, BMO Capital Markets raised their target price on shares of Bristol-Myers Squibb from $87.00 to $92.00 in a report on Monday, May 2nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Bristol-Myers Squibb currently has an average rating of “Moderate Buy” and a consensus target price of $74.27.
BMY opened at $76.55 on Thursday. The business’s 50 day moving average is $75.93 and its 200-day moving average is $69.82. The stock has a market cap of $162.98 billion, a PE ratio of 27.15, a price-to-earnings-growth ratio of 1.62 and a beta of 0.49. The company has a current ratio of 1.32, a quick ratio of 1.23 and a debt-to-equity ratio of 1.18. Bristol-Myers Squibb has a twelve month low of $53.22 and a twelve month high of $78.61.
Bristol-Myers Squibb (NYSE:BMY – Get Rating) last announced its earnings results on Friday, April 29th. The biopharmaceutical company reported $1.96 EPS for the quarter, topping the consensus estimate of $1.92 by $0.04. The firm had revenue of $11.65 billion for the quarter, compared to analysts’ expectations of $11.34 billion. Bristol-Myers Squibb had a return on equity of 48.37% and a net margin of 13.31%. The firm’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.74 earnings per share. As a group, analysts forecast that Bristol-Myers Squibb will post 7.56 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, August 1st. Shareholders of record on Friday, July 1st will be given a $0.54 dividend. The ex-dividend date of this dividend is Thursday, June 30th. This represents a $2.16 dividend on an annualized basis and a yield of 2.82%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is 76.60%.
Bristol-Myers Squibb Profile (Get Rating)
Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, and markets biopharmaceutical products worldwide. It offers products for hematology, oncology, cardiovascular, immunology, fibrotic, neuroscience, and covid-19 diseases. The company's products include Revlimid, an oral immunomodulatory drug for the treatment of multiple myeloma; Eliquis, an oral inhibitor for reduction in risk of stroke/systemic embolism in NVAF, and for the treatment of DVT/PE; Opdivo for anti-cancer indications; Pomalyst/Imnovid indicated for patients with multiple myeloma; and Orencia for adult patients with active RA and psoriatic arthritis.
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