Van ECK Associates Corp Purchases 781,385 Shares of Bristol-Myers Squibb (NYSE:BMY)

Van ECK Associates Corp raised its holdings in shares of Bristol-Myers Squibb (NYSE:BMY - Free Report) by 8.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,933,591 shares of the biopharmaceutical company's stock after buying an additional 781,385 shares during the quarter. Van ECK Associates Corp owned about 0.49% of Bristol-Myers Squibb worth $527,077,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Reston Wealth Management LLC bought a new position in Bristol-Myers Squibb in the third quarter worth $25,000. ESL Trust Services LLC bought a new position in Bristol-Myers Squibb in the first quarter worth $27,000. Valued Wealth Advisors LLC lifted its position in Bristol-Myers Squibb by 1,168.1% in the third quarter. Valued Wealth Advisors LLC now owns 596 shares of the biopharmaceutical company's stock worth $31,000 after purchasing an additional 549 shares during the period. ORG Wealth Partners LLC bought a new position in Bristol-Myers Squibb in the third quarter worth $34,000. Finally, LGT Financial Advisors LLC lifted its position in Bristol-Myers Squibb by 42.7% in the second quarter. LGT Financial Advisors LLC now owns 759 shares of the biopharmaceutical company's stock worth $32,000 after purchasing an additional 227 shares during the period. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently commented on BMY. Barclays raised their target price on Bristol-Myers Squibb from $42.00 to $43.00 and gave the stock an "underweight" rating in a research report on Monday, October 7th. Jefferies Financial Group increased their price objective on Bristol-Myers Squibb from $49.00 to $51.00 and gave the stock a "hold" rating in a research note on Wednesday, August 28th. Deutsche Bank Aktiengesellschaft dropped their price objective on Bristol-Myers Squibb from $53.00 to $45.00 and set a "hold" rating for the company in a research note on Tuesday, July 23rd. TD Cowen increased their price objective on Bristol-Myers Squibb from $53.00 to $59.00 and gave the stock a "hold" rating in a research note on Monday, October 7th. Finally, Sanford C. Bernstein started coverage on Bristol-Myers Squibb in a research note on Thursday, October 17th. They set a "market perform" rating and a $56.00 price objective for the company. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Bristol-Myers Squibb currently has a consensus rating of "Hold" and a consensus target price of $53.00.

Bristol-Myers Squibb Trading Down 2.6 %

BMY traded down $1.45 during midday trading on Friday, reaching $54.32. 12,894,832 shares of the company were exchanged, compared to its average volume of 8,759,896. 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 one year low of $39.35 and a one year high of $56.20. The stock has a market capitalization of $110.13 billion, a P/E ratio of -15.13, a PEG ratio of 15.49 and a beta of 0.44. The stock's 50-day simple moving average is $51.26 and its 200 day simple moving average is $46.56.

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last issued its earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.49 by $0.31. Bristol-Myers Squibb had a positive return on equity of 11.40% and a negative net margin of 15.30%. The firm had revenue of $11.89 billion for the quarter, compared to analysts' expectations of $11.26 billion. During the same quarter last year, the business earned $2.00 earnings per share. The company's revenue was up 8.4% compared to the same quarter last year. As a group, analysts forecast that Bristol-Myers Squibb will post 0.72 earnings per share for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 4th were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 4.42%. The ex-dividend date of this dividend was Friday, October 4th. Bristol-Myers Squibb's dividend payout ratio (DPR) is presently -66.85%.

Bristol-Myers Squibb Company Profile

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.