Kimelman & Baird LLC Makes New Investment in Bristol-Myers Squibb (NYSE:BMY)

Kimelman & Baird LLC purchased a new stake in Bristol-Myers Squibb (NYSE:BMY - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 22,432 shares of the biopharmaceutical company's stock, valued at approximately $932,000.

A number of other hedge funds have also modified their holdings of the business. Capital International Investors boosted its stake in Bristol-Myers Squibb by 14.1% during the first quarter. Capital International Investors now owns 70,203,814 shares of the biopharmaceutical company's stock worth $3,807,153,000 after buying an additional 8,675,322 shares during the period. Primecap Management Co. CA increased its holdings in Bristol-Myers Squibb by 1.0% in the 2nd quarter. Primecap Management Co. CA now owns 23,498,604 shares of the biopharmaceutical company's stock valued at $975,897,000 after purchasing an additional 225,197 shares during the last quarter. Legal & General Group Plc raised its position in Bristol-Myers Squibb by 3.8% in the second quarter. Legal & General Group Plc now owns 20,225,040 shares of the biopharmaceutical company's stock valued at $839,946,000 after purchasing an additional 735,613 shares during the period. Independent Franchise Partners LLP lifted its stake in Bristol-Myers Squibb by 4.0% during the second quarter. Independent Franchise Partners LLP now owns 14,600,621 shares of the biopharmaceutical company's stock worth $606,364,000 after purchasing an additional 556,295 shares in the last quarter. Finally, Pzena Investment Management LLC boosted its position in shares of Bristol-Myers Squibb by 15.0% during the second quarter. Pzena Investment Management LLC now owns 14,134,337 shares of the biopharmaceutical company's stock worth $586,999,000 after buying an additional 1,840,424 shares during the period. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Bristol-Myers Squibb Stock Performance

Shares of BMY stock opened at $50.91 on Monday. The stock's 50-day moving average is $48.53 and its two-hundred day moving average is $46.28. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.02 and a current ratio of 1.16. Bristol-Myers Squibb has a 1 year low of $39.35 and a 1 year high of $58.46. The firm has a market cap of $103.20 billion, a price-to-earnings ratio of -16.42, a PEG ratio of 12.96 and a beta of 0.46.

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last released its quarterly earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 EPS for the quarter, beating the consensus estimate of $1.64 by $0.43. Bristol-Myers Squibb had a negative net margin of 14.06% and a positive return on equity of 12.51%. The firm had revenue of $12.20 billion during the quarter, compared to the consensus estimate of $11.54 billion. During the same quarter in the prior year, the firm earned $1.75 EPS. Bristol-Myers Squibb's revenue for the quarter was up 8.7% on a year-over-year basis. Analysts predict that Bristol-Myers Squibb will post 0.77 earnings per share for the current year.

Bristol-Myers Squibb Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 4th will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.71%. The ex-dividend date of this dividend is Friday, October 4th. Bristol-Myers Squibb's payout ratio is currently -77.42%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on BMY. Barclays boosted their price objective on Bristol-Myers Squibb from $41.00 to $42.00 and gave the company an "underweight" rating in a report on Thursday, August 22nd. Cantor Fitzgerald reissued a "neutral" rating and issued a $50.00 price objective on shares of Bristol-Myers Squibb in a research note on Monday, September 16th. Deutsche Bank Aktiengesellschaft cut their target price on shares of Bristol-Myers Squibb from $53.00 to $45.00 and set a "hold" rating on the stock in a research note on Tuesday, July 23rd. StockNews.com raised shares of Bristol-Myers Squibb from a "buy" rating to a "strong-buy" rating in a research report on Monday, July 29th. Finally, Jefferies Financial Group upped their target price on shares of Bristol-Myers Squibb from $49.00 to $51.00 and gave the stock a "hold" rating in a research note on Wednesday, August 28th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $55.00.

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.

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