Pandora Wealth Inc. Acquires Shares of 19,900 Bristol Myers Squibb Company (NYSE:BMY)

Key Points

• Pandora Wealth Inc. acquired 19,900 shares of Bristol Myers Squibb, valued at approximately $1,214,000, making it the 27th biggest position in their portfolio.
• Other institutional investors, including Ameriprise Financial and DZ BANK, significantly increased their holdings in Bristol Myers Squibb during the fourth quarter, indicating strong interest in the biopharmaceutical company's stock.
• Analysts have recently downgraded Bristol Myers Squibb from "strong-buy" to "buy," with a consensus rating of "Hold" and an average target price set at $56.38.

Pandora Wealth Inc. acquired a new stake in Bristol Myers Squibb Company (NYSE:BMY - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 19,900 shares of the biopharmaceutical company's stock, valued at approximately $1,214,000. Bristol Myers Squibb comprises 0.8% of Pandora Wealth Inc.'s holdings, making the stock its 27th biggest position.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ameriprise Financial Inc. increased its holdings in shares of Bristol Myers Squibb by 59.9% in the fourth quarter. Ameriprise Financial Inc. now owns 32,079,246 shares of the biopharmaceutical company's stock valued at $1,814,341,000 after purchasing an additional 12,011,983 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its holdings in Bristol Myers Squibb by 701.2% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 12,470,106 shares of the biopharmaceutical company's stock worth $705,309,000 after acquiring an additional 10,913,708 shares during the period. Northern Trust Corp grew its holdings in Bristol Myers Squibb by 16.2% during the fourth quarter. Northern Trust Corp now owns 24,658,360 shares of the biopharmaceutical company's stock worth $1,394,677,000 after acquiring an additional 3,431,248 shares during the period. Adage Capital Partners GP L.L.C. grew its holdings in Bristol Myers Squibb by 72.9% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 7,769,227 shares of the biopharmaceutical company's stock worth $439,427,000 after acquiring an additional 3,275,061 shares during the period. Finally, Capital International Investors grew its holdings in Bristol Myers Squibb by 7.5% during the fourth quarter. Capital International Investors now owns 45,866,624 shares of the biopharmaceutical company's stock worth $2,593,940,000 after acquiring an additional 3,218,865 shares during the period. Hedge funds and other institutional investors own 76.41% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on BMY. Wall Street Zen lowered Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a report on Friday, June 6th. 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, August 1st. Argus upgraded Bristol Myers Squibb to a "hold" rating in a research report on Friday, April 25th. Daiwa Capital Markets downgraded Bristol Myers Squibb from an "outperform" rating to a "neutral" rating and set a $42.00 price objective on the stock. in a research report on Tuesday. Finally, Daiwa America downgraded Bristol Myers Squibb from a "strong-buy" rating to a "hold" rating in a research report on Tuesday. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $56.38.

Bristol Myers Squibb Trading Up 1.3%

Shares of NYSE BMY opened at $45.96 on Friday. The company has a market cap of $93.55 billion, a price-to-earnings ratio of 18.53, a price-to-earnings-growth ratio of 2.32 and a beta of 0.36. Bristol Myers Squibb Company has a 12-month low of $42.96 and a 12-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's 50 day simple moving average is $47.32 and its 200 day simple moving average is $51.90.

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

Bristol Myers Squibb Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 1st. Stockholders 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 dividend payout ratio (DPR) is 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.

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