Cambiar Investors LLC Has $58.79 Million Stock Holdings in Bristol-Myers Squibb (NYSE:BMY)

Cambiar Investors LLC raised its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 5.9% during the fourth quarter, Holdings Channel reports. The firm owned 1,039,399 shares of the biopharmaceutical company’s stock after buying an additional 57,814 shares during the quarter. Bristol-Myers Squibb makes up approximately 2.3% of Cambiar Investors LLC’s portfolio, making the stock its 8th biggest position. Cambiar Investors LLC’s holdings in Bristol-Myers Squibb were worth $58,788,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BMY. Reston Wealth Management LLC purchased a new position in Bristol-Myers Squibb during the third quarter valued at approximately $25,000. Hollencrest Capital Management increased its holdings in Bristol-Myers Squibb by 61.3% in the 3rd quarter. Hollencrest Capital Management now owns 492 shares of the biopharmaceutical company’s stock worth $25,000 after buying an additional 187 shares during the period. Kennebec Savings Bank purchased a new stake in Bristol-Myers Squibb in the 3rd quarter worth approximately $28,000. Darwin Wealth Management LLC purchased a new position in Bristol-Myers Squibb in the 3rd quarter valued at $29,000. Finally, Valued Wealth Advisors LLC increased its stake in shares of Bristol-Myers Squibb by 1,168.1% in the 3rd quarter. Valued Wealth Advisors LLC now owns 596 shares of the biopharmaceutical company’s stock worth $31,000 after acquiring an additional 549 shares during the last quarter. 76.41% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

BMY has been the subject of a number of research analyst reports. Leerink Partners upgraded Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and raised their target price for the company from $55.00 to $73.00 in a report on Tuesday, November 12th. Bank of America reaffirmed a “neutral” rating and set a $63.00 price objective on shares of Bristol-Myers Squibb in a report on Tuesday, December 10th. BMO Capital Markets boosted their target price on Bristol-Myers Squibb from $57.00 to $61.00 and gave the stock a “market perform” rating in a research report on Tuesday, November 12th. Citigroup upped their target price on Bristol-Myers Squibb from $60.00 to $65.00 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. Finally, Wolfe Research began coverage on Bristol-Myers Squibb in a research note on Friday, November 15th. They issued a “peer perform” rating for the company. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, four have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $57.86.

Bristol-Myers Squibb Trading Down 2.4 %

BMY stock opened at $55.50 on Tuesday. Bristol-Myers Squibb has a one year low of $39.35 and a one year high of $61.10. The company has a debt-to-equity ratio of 2.83, a current ratio of 1.24 and a quick ratio of 1.09. The stock has a market cap of $112.55 billion, a price-to-earnings ratio of -12.56, a price-to-earnings-growth ratio of 2.13 and a beta of 0.45. The company has a fifty day moving average price of $57.56 and a two-hundred day moving average price of $53.89.

Bristol-Myers Squibb (NYSE:BMY) last issued its earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 EPS for the quarter, topping the consensus estimate of $1.47 by $0.20. Bristol-Myers Squibb had a positive return on equity of 13.81% and a negative net margin of 18.53%. Equities analysts anticipate that Bristol-Myers Squibb will post 6.75 EPS for the current year.

Bristol-Myers Squibb Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, January 3rd were paid a dividend of $0.62 per share. This is an increase from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. The ex-dividend date was Friday, January 3rd. This represents a $2.48 annualized dividend and a dividend yield of 4.47%. Bristol-Myers Squibb’s dividend payout ratio is presently -56.11%.

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.