Panagora Asset Management Inc. Buys 311,191 Shares of Bristol-Myers Squibb (NYSE:BMY)

Panagora Asset Management Inc. grew its position in Bristol-Myers Squibb (NYSE:BMY) by 30.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,344,263 shares of the biopharmaceutical company’s stock after buying an additional 311,191 shares during the quarter. Panagora Asset Management Inc. owned 0.06% of Bristol-Myers Squibb worth $79,540,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Penserra Capital Management LLC acquired a new position in shares of Bristol-Myers Squibb in the second quarter valued at about $27,000. PFG Private Wealth Management LLC acquired a new stake in shares of Bristol-Myers Squibb in the third quarter valued at approximately $27,000. USA Financial Portformulas Corp increased its stake in Bristol-Myers Squibb by 1,748.9% during the third quarter. USA Financial Portformulas Corp now owns 832 shares of the biopharmaceutical company’s stock worth $49,000 after acquiring an additional 787 shares during the last quarter. Destiny Wealth Partners LLC acquired a new stake in Bristol-Myers Squibb during the third quarter worth $53,000. Finally, Founders Capital Management grew its stake in shares of Bristol-Myers Squibb by 80.2% in the third quarter. Founders Capital Management now owns 899 shares of the biopharmaceutical company’s stock valued at $53,000 after buying an additional 400 shares in the last quarter. Hedge funds and other institutional investors own 72.11% of the company’s stock.

NYSE:BMY traded up $0.04 during trading hours on Friday, reaching $64.64. The stock had a trading volume of 181,880 shares, compared to its average volume of 11,426,398. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.36 and a current ratio of 1.47. Bristol-Myers Squibb has a 52 week low of $53.22 and a 52 week high of $69.75. The company has a 50 day moving average price of $59.82 and a two-hundred day moving average price of $62.43. The stock has a market capitalization of $143.48 billion, a PE ratio of -26.92, a PEG ratio of 1.06 and a beta of 0.64.

Bristol-Myers Squibb (NYSE:BMY) last released its earnings results on Tuesday, October 26th. The biopharmaceutical company reported $2.00 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.92 by $0.08. The firm had revenue of $11.62 billion for the quarter, compared to the consensus estimate of $11.52 billion. Bristol-Myers Squibb had a positive return on equity of 43.05% and a negative net margin of 11.89%. The company’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.63 EPS. Equities research analysts predict that Bristol-Myers Squibb will post 7.52 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 1st. Shareholders of record on Friday, January 7th will be issued a $0.54 dividend. This represents a $2.16 annualized dividend and a dividend yield of 3.34%. This is a boost from Bristol-Myers Squibb’s previous quarterly dividend of $0.49. The ex-dividend date is Thursday, January 6th. Bristol-Myers Squibb’s dividend payout ratio is currently -90.00%.

A number of research analysts recently issued reports on the company. The Goldman Sachs Group assumed coverage on Bristol-Myers Squibb in a report on Friday, December 17th. They issued a “buy” rating and a $72.00 target price for the company. BMO Capital Markets initiated coverage on Bristol-Myers Squibb in a research note on Thursday, November 18th. They set an “outperform” rating and a $72.00 price target on the stock. Argus downgraded Bristol-Myers Squibb from a “buy” rating to a “hold” rating and set a $49.00 price target for the company. in a report on Monday, November 1st. TheStreet raised shares of Bristol-Myers Squibb from a “c+” rating to a “b” rating in a report on Wednesday, November 17th. Finally, Wells Fargo & Company assumed coverage on shares of Bristol-Myers Squibb in a research report on Wednesday, December 8th. They issued an “equal weight” rating and a $58.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $66.80.

In related news, EVP Autenried Paul Von sold 18,363 shares of the company’s stock in a transaction on Monday, November 22nd. The stock was sold at an average price of $57.17, for a total transaction of $1,049,812.71. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.11% of the stock is currently owned by corporate insiders.

Bristol-Myers Squibb Profile

Bristol Myers Squibb Co engages in the discovery, development, licensing, manufacture, marketing, distribution, and sale of biopharmaceutical products. It offers chemically-synthesized drugs or small molecules and products produced from biological processes called biologics. The company was founded in August 1933 and is headquartered in New York, NY.

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Institutional Ownership by Quarter for Bristol-Myers Squibb (NYSE:BMY)

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