Point72 Hong Kong Ltd Makes New Investment in Bristol-Myers Squibb (NYSE:BMY)

Point72 Hong Kong Ltd acquired a new stake in Bristol-Myers Squibb (NYSE:BMY) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 258,297 shares of the biopharmaceutical company’s stock, valued at approximately $10,727,000.

Other hedge funds have also recently bought and sold shares of the company. Global Assets Advisory LLC bought a new position in shares of Bristol-Myers Squibb in the 1st quarter valued at approximately $5,161,000. Lincoln National Corp grew its stake in Bristol-Myers Squibb by 7.7% in the 1st quarter. Lincoln National Corp now owns 42,894 shares of the biopharmaceutical company’s stock valued at $2,326,000 after buying an additional 3,052 shares during the last quarter. Chapin Davis Inc. raised its holdings in Bristol-Myers Squibb by 22.6% in the 1st 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 during the period. Sierra Summit Advisors LLC acquired a new position in Bristol-Myers Squibb during the 4th quarter worth $755,000. Finally, Scotia Capital Inc. boosted its holdings in 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 during the period. 76.41% of the stock is owned by institutional investors and hedge funds.

Bristol-Myers Squibb Trading Up 1.9 %

BMY stock opened at $50.95 on Wednesday. Bristol-Myers Squibb has a 1-year low of $39.35 and a 1-year high of $59.28. The company has a current ratio of 1.16, a quick ratio of 1.02 and a debt-to-equity ratio of 2.86. The business’s 50 day moving average is $48.07 and its 200-day moving average is $46.36. The firm has a market cap of $103.28 billion, a P/E ratio of -16.44, a P/E/G ratio of 12.59 and a beta of 0.46.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly 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 for the quarter, compared to analysts’ expectations of $11.54 billion. Bristol-Myers Squibb had a positive return on equity of 12.51% and a negative net margin of 14.06%. The business’s revenue was up 8.7% compared to the same quarter last year. During the same period in the prior year, the business posted $1.75 earnings per share. Equities analysts anticipate that Bristol-Myers Squibb will post 0.77 earnings per share for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 4th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 4.71%. The ex-dividend date is Friday, October 4th. Bristol-Myers Squibb’s dividend payout ratio is currently -77.42%.

Analysts Set New Price Targets

BMY has been the subject of several research analyst reports. Cantor Fitzgerald reissued a “neutral” rating and set a $50.00 price objective on shares of Bristol-Myers Squibb in a research report on Monday, September 16th. Jefferies Financial Group upped their price target on Bristol-Myers Squibb from $49.00 to $51.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. StockNews.com upgraded shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 29th. TD Cowen boosted their target price on shares of Bristol-Myers Squibb from $45.00 to $53.00 and gave the stock a “hold” rating in a research report on Monday, August 12th. Finally, BMO Capital Markets restated a “market perform” rating and issued a $48.00 price target on shares of Bristol-Myers Squibb in a research report on Monday. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $55.00.

Bristol-Myers Squibb Company 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.