Quantbot Technologies LP Invests $7.72 Million in Bristol-Myers Squibb (NYSE:BMY)

Quantbot Technologies LP bought a new stake in shares of Bristol-Myers Squibb (NYSE:BMY) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 185,904 shares of the biopharmaceutical company’s stock, valued at approximately $7,721,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Global Assets Advisory LLC acquired a new position in shares of Bristol-Myers Squibb during the first quarter valued at about $5,161,000. Lincoln National Corp raised its stake in Bristol-Myers Squibb by 7.7% during the 1st quarter. Lincoln National Corp now owns 42,894 shares of the biopharmaceutical company’s stock worth $2,326,000 after buying an additional 3,052 shares during the period. Chapin Davis Inc. boosted its holdings in Bristol-Myers Squibb by 22.6% in the first quarter. Chapin Davis Inc. now owns 22,544 shares of the biopharmaceutical company’s stock worth $1,223,000 after acquiring an additional 4,159 shares in the last quarter. Sierra Summit Advisors LLC acquired a new stake in Bristol-Myers Squibb in the fourth quarter valued at approximately $755,000. Finally, Scotia Capital Inc. increased its holdings in shares of Bristol-Myers Squibb by 48.6% during the fourth quarter. Scotia Capital Inc. now owns 236,724 shares of the biopharmaceutical company’s stock valued at $12,146,000 after acquiring an additional 77,471 shares in the last quarter. 76.41% of the stock is owned by institutional investors.

Bristol-Myers Squibb Price Performance

BMY opened at $49.13 on Monday. The firm has a market cap of $99.59 billion, a P/E ratio of -15.85, a PEG ratio of 12.59 and a beta of 0.46. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.02 and a current ratio of 1.16. Bristol-Myers Squibb has a fifty-two week low of $39.35 and a fifty-two week high of $60.55. The firm has a 50-day moving average of $46.79 and a 200 day moving average of $46.47.

Bristol-Myers Squibb (NYSE:BMY) last released its earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share for the quarter, beating analysts’ consensus estimates of $1.64 by $0.43. The firm had revenue of $12.20 billion during the quarter, compared to the consensus estimate of $11.54 billion. Bristol-Myers Squibb had a negative net margin of 14.06% and a positive return on equity of 12.51%. The company’s revenue was up 8.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.75 EPS. On average, research analysts expect that Bristol-Myers Squibb will post 0.77 EPS for the current year.

Bristol-Myers Squibb Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 4th will be paid a $0.60 dividend. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.40 annualized dividend and a dividend yield of 4.88%. Bristol-Myers Squibb’s payout ratio is presently -77.42%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on BMY shares. Deutsche Bank Aktiengesellschaft cut their target price on Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating on the stock in a report on Tuesday, July 23rd. Cantor Fitzgerald reiterated a “neutral” rating and set a $45.00 price objective on shares of Bristol-Myers Squibb in a report on Monday, July 22nd. Barclays boosted their target price on shares of Bristol-Myers Squibb from $41.00 to $42.00 and gave the stock an “underweight” rating in a research report on Thursday, August 22nd. Jefferies Financial Group raised their price target on shares of Bristol-Myers Squibb from $49.00 to $51.00 and gave the company a “hold” rating in a research report on Wednesday, August 28th. 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 report on Monday, August 12th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Bristol-Myers Squibb has an average rating of “Hold” and a consensus price target of $54.67.

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.