Van ECK Associates Corp Boosts Stock Position in Bristol-Myers Squibb (NYSE:BMY)

Van ECK Associates Corp lifted its holdings in Bristol-Myers Squibb (NYSE:BMY) by 792.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,030,939 shares of the biopharmaceutical company’s stock after purchasing an additional 3,579,324 shares during the quarter. Van ECK Associates Corp’s holdings in Bristol-Myers Squibb were worth $206,828,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of BMY. Pacer Advisors Inc. lifted its position in Bristol-Myers Squibb by 48.0% in the fourth quarter. Pacer Advisors Inc. now owns 7,830,948 shares of the biopharmaceutical company’s stock worth $401,806,000 after buying an additional 2,540,360 shares during the last quarter. AustralianSuper Pty Ltd bought a new stake in Bristol-Myers Squibb in the fourth quarter worth $86,965,000. Mizuho Markets Americas LLC bought a new stake in Bristol-Myers Squibb in the third quarter worth $82,405,000. Northern Trust Corp lifted its position in Bristol-Myers Squibb by 5.8% in the third quarter. Northern Trust Corp now owns 25,292,711 shares of the biopharmaceutical company’s stock worth $1,467,989,000 after buying an additional 1,394,158 shares during the last quarter. Finally, Invesco Ltd. lifted its position in Bristol-Myers Squibb by 8.6% in the third quarter. Invesco Ltd. now owns 15,606,587 shares of the biopharmaceutical company’s stock worth $905,806,000 after buying an additional 1,240,902 shares during the last quarter. 76.41% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

BMY has been the subject of a number of analyst reports. StockNews.com downgraded Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research report on Monday, April 15th. William Blair reiterated a “market perform” rating on shares of Bristol-Myers Squibb in a research report on Monday, April 1st. Redburn Atlantic downgraded Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $77.00 to $54.00 in a research report on Tuesday, February 6th. BMO Capital Markets decreased their target price on Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating for the company in a research report on Friday. Finally, Societe Generale downgraded Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research report on Monday, March 11th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Bristol-Myers Squibb presently has an average rating of “Hold” and an average target price of $60.00.

Bristol-Myers Squibb Stock Down 0.4 %

BMY traded down $0.20 on Monday, hitting $44.65. The company had a trading volume of 16,426,560 shares, compared to its average volume of 15,973,855. The stock has a fifty day moving average price of $51.03 and a 200-day moving average price of $51.10. Bristol-Myers Squibb has a 12-month low of $44.34 and a 12-month high of $69.10. The company has a debt-to-equity ratio of 2.99, a quick ratio of 0.99 and a current ratio of 1.11. The stock has a market capitalization of $90.51 billion, a price-to-earnings ratio of -14.41, a P/E/G ratio of 15.47 and a beta of 0.39.

Bristol-Myers Squibb (NYSE:BMY) last posted its earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share (EPS) for the quarter, beating the consensus estimate of ($4.53) by $0.13. Bristol-Myers Squibb had a positive return on equity of 8.83% and a negative net margin of 13.50%. The company had revenue of $11.87 billion for the quarter, compared to analyst estimates of $11.45 billion. During the same quarter in the previous year, the firm earned $2.05 earnings per share. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. Analysts predict that Bristol-Myers Squibb will post 0.58 EPS for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Friday, April 5th will be paid a dividend of $0.60 per share. The ex-dividend date is Thursday, April 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 5.38%. Bristol-Myers Squibb’s payout ratio is -77.42%.

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.