King Luther Capital Management Corp Grows Position in Bristol Myers Squibb Company (NYSE:BMY)

King Luther Capital Management Corp boosted its position in Bristol Myers Squibb Company (NYSE:BMY) by 1,030.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 249,387 shares of the biopharmaceutical company’s stock after buying an additional 227,332 shares during the period. King Luther Capital Management Corp’s holdings in Bristol Myers Squibb were worth $15,210,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of BMY. Brighton Jones LLC boosted its position in Bristol Myers Squibb by 33.4% in the fourth quarter. Brighton Jones LLC now owns 19,728 shares of the biopharmaceutical company’s stock valued at $1,116,000 after buying an additional 4,935 shares during the last quarter. Bank Pictet & Cie Europe AG purchased a new stake in Bristol Myers Squibb in the fourth quarter valued at approximately $13,094,000. Townsquare Capital LLC boosted its position in Bristol Myers Squibb by 51.8% in the fourth quarter. Townsquare Capital LLC now owns 227,299 shares of the biopharmaceutical company’s stock valued at $12,856,000 after buying an additional 77,605 shares during the last quarter. Sagespring Wealth Partners LLC purchased a new stake in Bristol Myers Squibb in the 4th quarter worth approximately $892,000. Finally, Advisors Capital Management LLC boosted its position in Bristol Myers Squibb by 12.1% in the 4th quarter. Advisors Capital Management LLC now owns 778,963 shares of the biopharmaceutical company’s stock worth $44,058,000 after purchasing an additional 83,786 shares in the last quarter. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Jefferies Financial Group lowered their price objective 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. Piper Sandler assumed coverage on Bristol Myers Squibb in a research report on Tuesday, April 22nd. They issued an “overweight” rating and a $65.00 price objective on the stock. Cantor Fitzgerald restated a “neutral” rating and issued a $55.00 price objective on shares of Bristol Myers Squibb in a research report on Tuesday, April 22nd. Daiwa Capital Markets lowered 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, August 5th. Finally, Argus upgraded Bristol Myers Squibb to a “hold” rating in a research report on Friday, April 25th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $56.38.

Bristol Myers Squibb Stock Up 1.3%

NYSE BMY opened at $45.96 on Monday. The business has a fifty day moving average price of $47.32 and a 200 day moving average price of $51.82. Bristol Myers Squibb Company has a one year low of $42.96 and a one year high of $63.33. The company has a debt-to-equity ratio of 2.54, a quick ratio of 1.11 and a current ratio of 1.21. The company has a market cap of $93.55 billion, a P/E ratio of 18.53, a P/E/G ratio of 2.35 and a beta of 0.36.

Bristol Myers Squibb (NYSE:BMY) last issued its earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $11.32 billion. During the same period last year, the company earned $2.07 EPS. The company’s revenue for the quarter was up .6% on a year-over-year basis. Research analysts anticipate that Bristol Myers Squibb Company will post 6.74 EPS for the current fiscal year.

Bristol Myers Squibb Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 1st. Shareholders 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 5.4%. 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.