Bull Harbor Capital LLC Makes New $3.72 Million Investment in Bristol Myers Squibb Company $BMY

Bull Harbor Capital LLC acquired a new stake in shares of Bristol Myers Squibb Company (NYSE:BMY) during the first quarter, HoldingsChannel.com reports. The fund acquired 61,320 shares of the biopharmaceutical company’s stock, valued at approximately $3,719,000. Bristol Myers Squibb comprises about 1.0% of Bull Harbor Capital LLC’s investment portfolio, making the stock its 9th largest position.

A number of other institutional investors have also made changes to their positions in the stock. Norges Bank acquired a new position in Bristol Myers Squibb during the fourth quarter valued at approximately $1,947,272,000. AQR Capital Management LLC grew its stake in Bristol Myers Squibb by 172.6% in the 4th quarter. AQR Capital Management LLC now owns 25,796,905 shares of the biopharmaceutical company’s stock valued at $1,391,485,000 after buying an additional 16,332,924 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in Bristol Myers Squibb by 47.0% in the 4th quarter. Bank of New York Mellon Corp now owns 24,495,875 shares of the biopharmaceutical company’s stock worth $1,321,308,000 after acquiring an additional 7,837,485 shares during the period. Geode Capital Management LLC lifted its position in Bristol Myers Squibb by 13.1% during the 4th quarter. Geode Capital Management LLC now owns 52,638,346 shares of the biopharmaceutical company’s stock worth $2,837,026,000 after acquiring an additional 6,084,046 shares during the last quarter. Finally, Man Group plc lifted its position in Bristol Myers Squibb by 280.4% during the 2nd quarter. Man Group plc now owns 7,465,845 shares of the biopharmaceutical company’s stock worth $345,594,000 after acquiring an additional 5,503,391 shares during the last quarter. 76.41% of the stock is owned by institutional investors.

Bristol Myers Squibb Trading Down 0.6%

Bristol Myers Squibb stock opened at $63.24 on Thursday. Bristol Myers Squibb Company has a 12 month low of $42.52 and a 12 month high of $64.96. The stock has a market cap of $129.14 billion, a price-to-earnings ratio of 17.76, a price-to-earnings-growth ratio of 0.18 and a beta of 0.23. The business has a 50 day moving average price of $57.79 and a two-hundred day moving average price of $58.22. The company has a quick ratio of 1.28, a current ratio of 1.42 and a debt-to-equity ratio of 2.10.

Bristol Myers Squibb (NYSE:BMY) last issued its earnings results on Thursday, April 30th. The biopharmaceutical company reported $1.58 EPS for the quarter, beating analysts’ consensus estimates of $1.42 by $0.16. Bristol Myers Squibb had a return on equity of 64.87% and a net margin of 15.01%.The business had revenue of $11.49 billion during the quarter, compared to analyst estimates of $10.93 billion. During the same period in the prior year, the company posted $1.80 earnings per share. Bristol Myers Squibb’s revenue was up 2.6% on a year-over-year basis. As a group, equities analysts forecast that Bristol Myers Squibb Company will post 6.34 EPS for the current year.

Bristol Myers Squibb Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 3rd. Stockholders of record on Thursday, July 2nd will be given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 4.0%. The ex-dividend date is Thursday, July 2nd. Bristol Myers Squibb’s payout ratio is 70.79%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Bank of America lowered their price target on Bristol Myers Squibb from $67.00 to $66.00 and set a “buy” rating on the stock in a research report on Friday, July 10th. Wall Street Zen upgraded Bristol Myers Squibb from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 27th. Guggenheim reaffirmed a “buy” rating and issued a $72.00 target price on shares of Bristol Myers Squibb in a report on Wednesday, April 8th. Weiss Ratings lowered Bristol Myers Squibb from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, July 16th. Finally, Cantor Fitzgerald reissued a “neutral” rating and issued a $54.00 price objective on shares of Bristol Myers Squibb in a research report on Monday, July 6th. Eight analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Bristol Myers Squibb currently has an average rating of “Hold” and an average price target of $61.25.

About Bristol Myers Squibb

Bristol Myers Squibb is a global biopharmaceutical company headquartered in Princeton, New Jersey, focused on discovering, developing and delivering medicines for serious diseases. The company’s core activities include research and development, clinical development, manufacturing and commercialization of prescription pharmaceuticals across multiple therapeutic areas. BMS concentrates on advancing therapies in oncology, hematology, immunology, cardiovascular disease and specialty areas through both small molecules and biologics.

BMS’s marketed portfolio and late‑stage pipeline reflect a strong emphasis on cancer and immune‑mediated conditions.