Jupiter Asset Management Ltd. Takes Position in Bristol Myers Squibb Company (NYSE:BMY)

Key Points

• Jupiter Asset Management Ltd. acquired a new stake in Bristol Myers Squibb, purchasing 122,172 shares valued at approximately $7.45 million in the first quarter.
• There has been significant institutional interest, with other firms like Polar Asset Management purchasing shares worth around $16.65 million and Avaii Wealth Management increasing their position by 590.9%.
• Bristol Myers Squibb recently reported earnings of $1.46 per share, exceeding consensus estimates, and announced a quarterly dividend with a yield of 5.6%.

Jupiter Asset Management Ltd. bought a new stake in Bristol Myers Squibb Company (NYSE:BMY - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 122,172 shares of the biopharmaceutical company's stock, valued at approximately $7,451,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Polar Asset Management Partners Inc. purchased a new position in shares of Bristol Myers Squibb in the fourth quarter valued at approximately $16,651,000. Avaii Wealth Management LLC lifted its position in shares of Bristol Myers Squibb by 590.9% in the first quarter. Avaii Wealth Management LLC now owns 78,597 shares of the biopharmaceutical company's stock valued at $4,794,000 after acquiring an additional 67,221 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Bristol Myers Squibb by 1.4% in the first quarter. Assenagon Asset Management S.A. now owns 65,038 shares of the biopharmaceutical company's stock valued at $3,967,000 after acquiring an additional 869 shares in the last quarter. Shorepoint Capital Partners LLC lifted its position in shares of Bristol Myers Squibb by 2.2% in the fourth quarter. Shorepoint Capital Partners LLC now owns 58,426 shares of the biopharmaceutical company's stock valued at $3,305,000 after acquiring an additional 1,248 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its position in shares of Bristol Myers Squibb by 17.0% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 550,613 shares of the biopharmaceutical company's stock valued at $33,582,000 after acquiring an additional 80,087 shares in the last quarter. Hedge funds and other institutional investors own 76.41% of the company's stock.

Bristol Myers Squibb Trading Up 2.2%

Shares of NYSE BMY opened at $44.25 on Monday. Bristol Myers Squibb Company has a twelve month low of $42.96 and a twelve month high of $63.33. The company has a current ratio of 1.21, a quick ratio of 1.11 and a debt-to-equity ratio of 2.54. The stock has a fifty day simple moving average of $47.51 and a 200-day simple moving average of $52.23. The stock has a market capitalization of $90.07 billion, a PE ratio of 17.84, a PEG ratio of 2.33 and a beta of 0.36.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last issued its quarterly earnings data 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. Bristol Myers Squibb had a return on equity of 80.04% and a net margin of 10.58%. The business had revenue of $12.27 billion during the quarter, compared to analysts' expectations of $11.32 billion. During the same period in the previous year, the firm posted $2.07 earnings per share. The company's revenue was up .6% on a year-over-year basis. On average, equities analysts forecast that Bristol Myers Squibb Company will post 6.74 earnings per share for the current year.

Bristol Myers Squibb Dividend Announcement

The company 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 of this dividend was Thursday, July 3rd. This represents a $2.48 dividend on an annualized basis and a dividend yield of 5.6%. Bristol Myers Squibb's payout ratio is presently 100.00%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Jefferies Financial Group decreased their target price on Bristol Myers Squibb from $70.00 to $68.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Citigroup reduced their price objective on Bristol Myers Squibb from $51.00 to $47.00 and set a "neutral" rating on the stock in a research report on Friday. Argus upgraded Bristol Myers Squibb to a "hold" rating in a research report on Friday, April 25th. Cantor Fitzgerald reiterated a "neutral" rating and set a $55.00 price objective on shares of Bristol Myers Squibb in a research report on Tuesday, April 22nd. Finally, William Blair reiterated a "market perform" rating on shares of Bristol Myers Squibb in a research report on Friday, April 25th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $57.33.

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.

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