IQ EQ FUND MANAGEMENT IRELAND Ltd Grows Stake in Bristol Myers Squibb Company (NYSE:BMY)

Key Points

• IQ EQ FUND MANAGEMENT IRELAND Ltd increased its stake in Bristol Myers Squibb by 11.0%, acquiring an additional 9,410 shares to hold a total of 95,110 shares, valued at approximately $5.8 million.
• Analysts have mixed ratings on Bristol Myers Squibb, with one sell rating, thirteen holds, six buys, and two strong buys, leading to an average rating of "Hold" and a consensus target price of $57.33.
• Bristol Myers Squibb reported earnings of $1.46 per share for the last quarter, exceeding estimates, along with quarterly revenue of $12.27 billion, marking a 0.6% increase year-over-year.

IQ EQ FUND MANAGEMENT IRELAND Ltd increased its holdings in Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 11.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 95,110 shares of the biopharmaceutical company's stock after purchasing an additional 9,410 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd's holdings in Bristol Myers Squibb were worth $5,801,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of BMY. Pinney & Scofield Inc. purchased a new position in shares of Bristol Myers Squibb during the fourth quarter worth approximately $25,000. Park Square Financial Group LLC bought a new stake in Bristol Myers Squibb in the fourth quarter valued at $26,000. Transce3nd LLC acquired a new stake in shares of Bristol Myers Squibb in the fourth quarter valued at $28,000. Global Wealth Strategies & Associates grew its holdings in shares of 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 in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new stake in Bristol Myers Squibb during the 1st quarter valued at approximately $31,000. Institutional investors own 76.41% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Daiwa Capital Markets lowered shares of Bristol Myers Squibb from an "outperform" rating to a "neutral" rating and set a $42.00 target price for the company. in a research note on Tuesday. Jefferies Financial Group reduced their target price on Bristol Myers Squibb from $70.00 to $68.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. Daiwa America downgraded Bristol Myers Squibb from a "strong-buy" rating to a "hold" rating in a report on Tuesday. Morgan Stanley reaffirmed a "hold" rating on shares of Bristol Myers Squibb in a report on Thursday, July 31st. Finally, The Goldman Sachs Group restated a "neutral" rating and set a $55.00 price target (down previously from $67.00) on shares of Bristol Myers Squibb in a research note on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $56.38.

Bristol Myers Squibb Stock Performance

BMY traded down $1.03 during trading hours on Wednesday, hitting $44.82. The company's stock had a trading volume of 11,314,459 shares, compared to its average volume of 13,929,144. Bristol Myers Squibb Company has a fifty-two week low of $42.96 and a fifty-two week high of $63.33. The company has a 50-day simple moving average of $47.46 and a 200 day simple moving average of $52.11. The firm has a market capitalization of $91.24 billion, a PE ratio of 18.07, a PEG ratio of 2.35 and a beta of 0.36. The company has a current ratio of 1.21, a quick ratio of 1.11 and a debt-to-equity ratio of 2.54.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last posted its earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 earnings per share for the quarter, beating analysts' consensus estimates of $1.07 by $0.39. The business had revenue of $12.27 billion for the quarter, compared to analysts' expectations of $11.32 billion. Bristol Myers Squibb had a net margin of 10.58% and a return on equity of 80.04%. The firm's revenue for the quarter was up .6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.07 earnings per share. As a group, sell-side analysts expect that Bristol Myers Squibb Company will post 6.74 EPS for the current year.

Bristol Myers Squibb Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Thursday, July 3rd were paid a $0.62 dividend. The ex-dividend date was Thursday, July 3rd. This represents a $2.48 annualized dividend and a dividend yield of 5.5%. Bristol Myers Squibb's payout ratio is currently 100.00%.

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.