Keene & Associates Inc. Purchases 1,242 Shares of Bristol-Myers Squibb (NYSE:BMY)

Keene & Associates Inc. lifted its position in Bristol-Myers Squibb (NYSE:BMY) by 2.1% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 61,555 shares of the biopharmaceutical company’s stock after buying an additional 1,242 shares during the period. Bristol-Myers Squibb comprises 2.4% of Keene & Associates Inc.’s holdings, making the stock its 22nd largest position. Keene & Associates Inc.’s holdings in Bristol-Myers Squibb were worth $3,185,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Lincoln National Corp lifted its holdings in shares of Bristol-Myers Squibb by 7.7% during the 1st quarter. Lincoln National Corp now owns 42,894 shares of the biopharmaceutical company’s stock valued at $2,326,000 after purchasing an additional 3,052 shares in the last quarter. Chapin Davis Inc. lifted its stake in Bristol-Myers Squibb by 22.6% in the first quarter. Chapin Davis Inc. now owns 22,544 shares of the biopharmaceutical company’s stock valued at $1,223,000 after buying an additional 4,159 shares in the last quarter. Accel Wealth Management increased its position in shares of Bristol-Myers Squibb by 19.0% during the first quarter. Accel Wealth Management now owns 4,934 shares of the biopharmaceutical company’s stock worth $268,000 after acquiring an additional 788 shares in the last quarter. Brookstone Capital Management raised its holdings in shares of Bristol-Myers Squibb by 36.4% during the first quarter. Brookstone Capital Management now owns 150,037 shares of the biopharmaceutical company’s stock worth $8,137,000 after acquiring an additional 40,018 shares during the period. Finally, Xponance Inc. lifted its position in Bristol-Myers Squibb by 8.8% in the 2nd quarter. Xponance Inc. now owns 317,381 shares of the biopharmaceutical company’s stock valued at $13,181,000 after acquiring an additional 25,543 shares in the last quarter. Institutional investors and hedge funds own 76.41% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on BMY. Deutsche Bank Aktiengesellschaft lowered their target price on Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating for the company in a report on Tuesday, July 23rd. UBS Group lifted their target price on Bristol-Myers Squibb from $50.00 to $54.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $50.00 price target on shares of Bristol-Myers Squibb in a research report on Friday, October 18th. BMO Capital Markets reiterated a “market perform” rating and issued a $48.00 price objective on shares of Bristol-Myers Squibb in a report on Monday, September 23rd. Finally, Sanford C. Bernstein initiated coverage on shares of Bristol-Myers Squibb in a report on Thursday, October 17th. They set a “market perform” rating and a $56.00 target price for the company. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Bristol-Myers Squibb presently has a consensus rating of “Hold” and a consensus target price of $53.20.

Bristol-Myers Squibb Price Performance

NYSE:BMY opened at $53.06 on Thursday. Bristol-Myers Squibb has a 12-month low of $39.35 and a 12-month high of $56.77. The firm has a market capitalization of $107.56 billion, a price-to-earnings ratio of -17.12, a P/E/G ratio of 13.75 and a beta of 0.46. The stock’s 50 day moving average price is $50.63 and its two-hundred day moving average price is $46.39. The company has a quick ratio of 1.02, a current ratio of 1.16 and a debt-to-equity ratio of 2.86.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share for the quarter, beating analysts’ consensus estimates of $1.64 by $0.43. Bristol-Myers Squibb had a positive return on equity of 12.51% and a negative net margin of 14.06%. The business had revenue of $12.20 billion for the quarter, compared to analysts’ expectations of $11.54 billion. During the same quarter in the prior year, the business earned $1.75 EPS. The firm’s revenue for the quarter was up 8.7% on a year-over-year basis. On average, analysts anticipate 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. Investors of record on Friday, October 4th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 4.52%. The ex-dividend date of this dividend is Friday, October 4th. Bristol-Myers Squibb’s payout ratio is -77.42%.

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.