Lee Danner & Bass Inc. Invests $1.31 Million in Bristol-Myers Squibb (NYSE:BMY)

Lee Danner & Bass Inc. acquired a new stake in Bristol-Myers Squibb (NYSE:BMY) during the second quarter, according to its most recent 13F filing with the SEC. The fund acquired 31,532 shares of the biopharmaceutical company’s stock, valued at approximately $1,310,000.

Other institutional investors have also added to or reduced their stakes in the company. Capital International Investors boosted its holdings in Bristol-Myers Squibb by 14.1% in the 1st 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. Norges Bank purchased a new position in Bristol-Myers Squibb during the 4th quarter valued at about $1,560,524,000. Primecap Management Co. CA lifted its holdings in shares of Bristol-Myers Squibb by 14.6% in the fourth quarter. Primecap Management Co. CA now owns 23,534,378 shares of the biopharmaceutical company’s stock worth $1,207,549,000 after buying an additional 2,998,228 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Bristol-Myers Squibb by 7.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 16,959,807 shares of the biopharmaceutical company’s stock valued at $870,198,000 after acquiring an additional 1,246,066 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its holdings in Bristol-Myers Squibb by 77.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,547,823 shares of the biopharmaceutical company’s stock worth $680,469,000 after acquiring an additional 5,461,767 shares during the period. 76.41% of the stock is owned by hedge funds and other institutional investors.

Bristol-Myers Squibb Price Performance

Shares of Bristol-Myers Squibb stock opened at $49.95 on Friday. The company’s fifty day simple moving average is $45.01 and its two-hundred day simple moving average is $46.59. Bristol-Myers Squibb has a 12-month low of $39.35 and a 12-month high of $63.03. The firm has a market cap of $101.25 billion, a PE ratio of -16.11, a price-to-earnings-growth ratio of 12.51 and a beta of 0.44. The company has a quick ratio of 0.99, a current ratio of 1.16 and a debt-to-equity ratio of 2.86.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 EPS for the quarter, beating analysts’ consensus estimates of $1.64 by $0.43. The business had revenue of $12.20 billion during the quarter, compared to analyst estimates of $11.54 billion. Bristol-Myers Squibb had a positive return on equity of 12.51% and a negative net margin of 14.06%. Bristol-Myers Squibb’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.75 EPS. As a group, equities analysts expect that Bristol-Myers Squibb will post 0.77 EPS for the current year.

Bristol-Myers Squibb Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Friday, July 5th were issued a $0.60 dividend. The ex-dividend date was Friday, July 5th. This represents a $2.40 annualized dividend and a yield of 4.80%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -77.42%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on BMY shares. Deutsche Bank Aktiengesellschaft lowered their price objective on Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating on the stock in a research report on Tuesday, July 23rd. Jefferies Financial Group lifted their price target on Bristol-Myers Squibb from $49.00 to $51.00 and gave the company a “hold” rating in a research report on Wednesday. Barclays upped their price objective on shares of Bristol-Myers Squibb from $41.00 to $42.00 and gave the stock an “underweight” rating in a research report on Thursday, August 22nd. StockNews.com raised shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 29th. Finally, TD Cowen raised their price objective on shares of Bristol-Myers Squibb from $45.00 to $53.00 and gave the company a “hold” rating in a research report on Monday, August 12th. Two 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. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $54.67.

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.