Bayforest Capital Ltd Has $1.02 Million Position in Bristol Myers Squibb Company (NYSE:BMY)

Key Points

• Bayforest Capital Ltd increased its holdings in Bristol Myers Squibb by 125.7% in the first quarter, acquiring an additional 9,275 shares, making it the firm's 29th largest position.
• Bristol Myers Squibb will pay a quarterly dividend of $0.62 per share on August 1st, representing a yearly yield of 5.29% with a payout ratio of 92.88%.
• Research analysts have mixed ratings for the stock, with an average consensus rating of "Hold" and a target price of $58.53.

Bayforest Capital Ltd increased its position in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 125.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,656 shares of the biopharmaceutical company's stock after purchasing an additional 9,275 shares during the period. Bristol Myers Squibb accounts for about 0.5% of Bayforest Capital Ltd's holdings, making the stock its 29th biggest holding. Bayforest Capital Ltd's holdings in Bristol Myers Squibb were worth $1,016,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Pinney & Scofield Inc. acquired a new position in Bristol Myers Squibb during the fourth quarter worth $25,000. Park Square Financial Group LLC purchased a new stake in shares of Bristol Myers Squibb in the 4th quarter valued at $26,000. Global Wealth Strategies & Associates boosted its holdings in Bristol Myers Squibb by 137.5% during the 1st quarter. Global Wealth Strategies & Associates now owns 475 shares of the biopharmaceutical company's stock valued at $29,000 after acquiring an additional 275 shares during the period. Transce3nd LLC acquired a new position in Bristol Myers Squibb in the 4th quarter valued at about $28,000. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Bristol Myers Squibb during the first quarter worth about $31,000. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Bristol Myers Squibb Trading Up 2.2%

NYSE:BMY traded up $0.94 during trading hours on Friday, hitting $44.25. 18,626,740 shares of the stock were exchanged, compared to its average volume of 12,693,902. The company's 50 day moving average is $47.56 and its two-hundred day moving average is $52.36. The company has a market capitalization of $90.05 billion, a P/E ratio of 17.84, a price-to-earnings-growth ratio of 2.30 and a beta of 0.36. Bristol Myers Squibb Company has a twelve month low of $42.96 and a twelve month high of $63.33. The company has a quick ratio of 1.17, a current ratio of 1.28 and a debt-to-equity ratio of 2.65.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The biopharmaceutical company reported $1.46 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.39. The business had revenue of $12.27 billion for the quarter, compared to analyst estimates of $11.32 billion. Bristol Myers Squibb had a net margin of 10.58% and a return on equity of 80.60%. Bristol Myers Squibb's revenue was up .6% compared to the same quarter last year. During the same period in the prior year, the business posted $2.07 earnings per share. On average, sell-side analysts anticipate that Bristol Myers Squibb Company will post 6.74 earnings per share for the current fiscal year.

Bristol Myers Squibb Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Thursday, July 3rd will be issued a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 5.6%. The ex-dividend date is Thursday, July 3rd. Bristol Myers Squibb's payout ratio is 92.88%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. The Goldman Sachs Group reiterated a "neutral" rating and set a $55.00 target price (down from $67.00) on shares of Bristol Myers Squibb in a report on Tuesday, April 8th. William Blair reiterated a "market perform" rating on shares of Bristol Myers Squibb in a research note on Friday, April 25th. Jefferies Financial Group lowered their target price on Bristol Myers Squibb from $70.00 to $68.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. Morgan Stanley reaffirmed a "hold" rating on shares of Bristol Myers Squibb in a research report on Thursday. Finally, UBS Group lowered their price objective on Bristol Myers Squibb from $60.00 to $54.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $57.33.

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.