Edgestream Partners L.P. Buys Shares of 154,427 Bristol Myers Squibb Company $BMY

Key Points

• Edgestream Partners bought 154,427 Bristol Myers Squibb shares worth approximately $9.4 million, while institutional investors collectively own 76.41% of BMY.
• Bristol Myers Squibb reported quarterly EPS of $1.58, beating estimates of $1.42, and revenue of $11.49 billion, up 2.6% year over year.
• The company declared a quarterly dividend of $0.63 per share, equivalent to an annualized $2.52 payout and a 4.0% yield. Analysts have a consensus “Hold” rating with an average price target of $61.25.

Edgestream Partners L.P. purchased a new position in Bristol Myers Squibb Company (NYSE:BMY - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 154,427 shares of the biopharmaceutical company's stock, valued at approximately $9,366,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in Bristol Myers Squibb by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 198,727,768 shares of the biopharmaceutical company's stock worth $10,719,376,000 after buying an additional 2,743,759 shares during the last quarter. State Street Corp increased its position in Bristol Myers Squibb by 1.4% during the 4th quarter. State Street Corp now owns 97,980,438 shares of the biopharmaceutical company's stock valued at $5,285,065,000 after buying an additional 1,385,206 shares in the last quarter. Geode Capital Management LLC raised its stake in Bristol Myers Squibb by 13.1% in the fourth quarter. Geode Capital Management LLC now owns 52,638,346 shares of the biopharmaceutical company's stock valued at $2,837,026,000 after buying an additional 6,084,046 shares during the last quarter. Norges Bank acquired a new stake in Bristol Myers Squibb in the fourth quarter worth about $1,947,272,000. Finally, AQR Capital Management LLC boosted its holdings in Bristol Myers Squibb by 172.6% in the fourth quarter. AQR Capital Management LLC now owns 25,796,905 shares of the biopharmaceutical company's stock worth $1,391,485,000 after acquiring an additional 16,332,924 shares in the last quarter. Hedge funds and other institutional investors own 76.41% of the company's stock.

Bristol Myers Squibb Stock Down 0.6%

Shares of BMY stock opened at $63.24 on Thursday. Bristol Myers Squibb Company has a twelve month low of $42.52 and a twelve month high of $64.96. The stock has a market cap of $129.14 billion, a P/E ratio of 17.76, a P/E/G ratio of 0.18 and a beta of 0.23. The stock has a 50 day moving average of $57.79 and a 200 day moving average of $58.22. The company has a current ratio of 1.42, a quick ratio of 1.28 and a debt-to-equity ratio of 2.10.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The biopharmaceutical company reported $1.58 EPS for the quarter, topping the consensus estimate of $1.42 by $0.16. The business had revenue of $11.49 billion for the quarter, compared to analyst estimates of $10.93 billion. Bristol Myers Squibb had a return on equity of 64.87% and a net margin of 15.01%.The business's quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.80 EPS. As a group, sell-side analysts expect that Bristol Myers Squibb Company will post 6.34 EPS for the current year.

Bristol Myers Squibb Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, August 3rd. Investors of record on Thursday, July 2nd will be issued a dividend of $0.63 per share. The ex-dividend date of this dividend is Thursday, July 2nd. This represents a $2.52 dividend on an annualized basis and a yield of 4.0%. Bristol Myers Squibb's dividend payout ratio is 70.79%.

Analyst Ratings Changes

Several research firms have recently issued reports on BMY. Guggenheim restated a "buy" rating and set a $72.00 price objective on shares of Bristol Myers Squibb in a report on Wednesday, April 8th. Wall Street Zen upgraded shares of Bristol Myers Squibb from a "buy" rating to a "strong-buy" rating in a research note on Saturday, June 27th. Raymond James Financial reissued a "market perform" rating on shares of Bristol Myers Squibb in a research report on Monday. Citigroup restated a "neutral" rating on shares of Bristol Myers Squibb in a research note on Friday, May 1st. Finally, Weiss Ratings cut shares of Bristol Myers Squibb from a "hold (c+)" rating to a "hold (c)" rating in a report on Thursday, July 16th. Eight analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Bristol Myers Squibb presently has an average rating of "Hold" and an average price target of $61.25.

Bristol Myers Squibb Profile

Bristol Myers Squibb is a global biopharmaceutical company headquartered in Princeton, New Jersey, focused on discovering, developing and delivering medicines for serious diseases. The company's core activities include research and development, clinical development, manufacturing and commercialization of prescription pharmaceuticals across multiple therapeutic areas. BMS concentrates on advancing therapies in oncology, hematology, immunology, cardiovascular disease and specialty areas through both small molecules and biologics.

BMS's marketed portfolio and late‑stage pipeline reflect a strong emphasis on cancer and immune‑mediated conditions.

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