HPM Partners LLC Takes Position in Bristol-Myers Squibb Company (NYSE:BMY)

HPM Partners LLC acquired a new position in shares of Bristol-Myers Squibb Company (NYSE:BMY) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 44,130 shares of the biopharmaceutical company’s stock, valued at approximately $2,400,000.

Other large investors also recently modified their holdings of the company. Union Bankshares Corp boosted its stake in shares of Bristol-Myers Squibb by 12.2% in the first quarter. Union Bankshares Corp now owns 4,405 shares of the biopharmaceutical company’s stock worth $240,000 after buying an additional 480 shares in the last quarter. Norges Bank bought a new stake in shares of Bristol-Myers Squibb during the fourth quarter worth $770,318,000. Doyle Wealth Management bought a new stake in shares of Bristol-Myers Squibb during the first quarter worth $14,571,000. Philadelphia Trust Co. boosted its stake in shares of Bristol-Myers Squibb by 7.7% in the fourth quarter. Philadelphia Trust Co. now owns 20,924 shares of the biopharmaceutical company’s stock worth $1,223,000 after buying an additional 1,500 shares in the last quarter. Finally, Numeric Investors LLC bought a new stake in shares of Bristol-Myers Squibb during the fourth quarter worth $1,671,000. Institutional investors and hedge funds own 69.63% of the company’s stock.

Bristol-Myers Squibb Company (NYSE:BMY) opened at 55.07 on Thursday. The stock has a market cap of $90.72 billion, a PE ratio of 19.13 and a beta of 1.17. The firm’s 50-day moving average price is $54.98 and its 200 day moving average price is $54.70. Bristol-Myers Squibb Company has a 1-year low of $46.01 and a 1-year high of $76.80.

Bristol-Myers Squibb (NYSE:BMY) last announced its earnings results on Thursday, April 27th. The biopharmaceutical company reported $0.84 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.72 by $0.12. Bristol-Myers Squibb had a return on equity of 31.86% and a net margin of 24.22%. The business had revenue of $4.93 billion for the quarter, compared to analyst estimates of $4.75 billion. During the same quarter last year, the firm earned $0.74 EPS. Bristol-Myers Squibb’s revenue for the quarter was up 12.3% compared to the same quarter last year. Equities research analysts expect that Bristol-Myers Squibb Company will post $2.95 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 1st. Investors of record on Friday, July 7th will be given a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 2.83%. The ex-dividend date of this dividend is Wednesday, July 5th. Bristol-Myers Squibb’s dividend payout ratio is presently 54.17%.

A number of equities research analysts recently weighed in on BMY shares. Vetr upgraded shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating and set a $58.88 price objective on the stock in a research note on Monday, June 5th. Jefferies Group LLC reiterated a “buy” rating and issued a $64.00 price target on shares of Bristol-Myers Squibb in a research report on Monday, June 5th. BidaskClub upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating in a research report on Tuesday, June 27th. Robert W. Baird began coverage on shares of Bristol-Myers Squibb in a research report on Tuesday, April 25th. They issued an “outperform” rating on the stock. Finally, Deutsche Bank AG set a $55.00 price target on shares of Bristol-Myers Squibb and gave the stock a “hold” rating in a research report on Monday. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. Bristol-Myers Squibb currently has an average rating of “Hold” and a consensus price target of $63.26.

Bristol-Myers Squibb Company Profile

Bristol-Myers Squibb Company is engaged in the discovery, development, licensing, manufacturing, marketing, distribution and sale of biopharmaceutical products. The Company’s pharmaceutical products include chemically synthesized drugs, or small molecules, and products produced from biological processes called biologics.