Knott David M Jr Takes $1.16 Million Position in Bristol Myers Squibb Company (NYSE:BMY)

Key Points

• Knott David M Jr has acquired a new position in Bristol Myers Squibb, purchasing 19,000 shares valued at around $1.16 million, making it his 27th largest holding.
• Bristol Myers Squibb reported $1.46 earnings per share for the last quarter, exceeding expectations of $1.07, with a revenue of $12.27 billion.
• The company recently announced a quarterly dividend of $0.62 per share, reflecting a dividend yield of 5.4% and a payout ratio of 100%.

Knott David M Jr bought a new position in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 19,000 shares of the biopharmaceutical company's stock, valued at approximately $1,159,000. Bristol Myers Squibb comprises 0.5% of Knott David M Jr's holdings, making the stock its 27th biggest position.

Several other institutional investors also recently bought and sold shares of the stock. Commonwealth Equity Services LLC boosted its holdings in Bristol Myers Squibb by 1.1% during the first quarter. Commonwealth Equity Services LLC now owns 1,288,407 shares of the biopharmaceutical company's stock valued at $78,580,000 after acquiring an additional 13,959 shares during the period. Polar Asset Management Partners Inc. bought a new stake in Bristol Myers Squibb during the 4th quarter valued at approximately $16,651,000. Avaii Wealth Management LLC grew its holdings in Bristol Myers Squibb by 590.9% in the 1st quarter. Avaii Wealth Management LLC now owns 78,597 shares of the biopharmaceutical company's stock valued at $4,794,000 after buying an additional 67,221 shares during the last quarter. Assenagon Asset Management S.A. increased its position in Bristol Myers Squibb by 1.4% in the 1st quarter. Assenagon Asset Management S.A. now owns 65,038 shares of the biopharmaceutical company's stock worth $3,967,000 after buying an additional 869 shares during the period. Finally, Shorepoint Capital Partners LLC lifted its holdings in shares of Bristol Myers Squibb by 2.2% during the fourth quarter. Shorepoint Capital Partners LLC now owns 58,426 shares of the biopharmaceutical company's stock worth $3,305,000 after buying an additional 1,248 shares during the last quarter. 76.41% of the stock is currently owned by institutional investors.

Bristol Myers Squibb Trading Up 1.3%

Shares of NYSE BMY opened at $45.96 on Monday. Bristol Myers Squibb Company has a 1-year low of $42.96 and a 1-year high of $63.33. The company has a 50-day moving average of $47.32 and a two-hundred day moving average of $51.82. The company has a market cap of $93.55 billion, a PE ratio of 18.53, a P/E/G 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 quarterly earnings data on Thursday, July 31st. The biopharmaceutical company reported $1.46 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.39. The firm had revenue of $12.27 billion during 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%. Bristol Myers Squibb's revenue was up .6% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.07 EPS. As a group, equities analysts expect 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 announced a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Thursday, July 3rd were given a dividend of $0.62 per share. The ex-dividend date was Thursday, July 3rd. This represents a $2.48 annualized dividend and a dividend yield of 5.4%. Bristol Myers Squibb's payout ratio is presently 100.00%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on BMY shares. Jefferies Financial Group lowered their price objective on shares of Bristol Myers Squibb from $70.00 to $68.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. Daiwa Capital Markets cut shares of Bristol Myers Squibb from an "outperform" rating to a "neutral" rating and set a $42.00 target price on the stock. in a research note on Tuesday, August 5th. Citigroup dropped their price target on shares of Bristol Myers Squibb from $51.00 to $47.00 and set a "neutral" rating for the company in a research report on Friday, August 1st. William Blair reissued a "market perform" rating on shares of Bristol Myers Squibb in a report on Friday, April 25th. Finally, Daiwa America cut Bristol Myers Squibb from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 5th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $56.38.

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.

Want to see what other hedge funds are holding BMY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bristol Myers Squibb Company (NYSE:BMY - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.