Luts & Greenleigh Group Inc. Acquires New Holdings in Bristol-Myers Squibb (NYSE:BMY)

Luts & Greenleigh Group Inc. acquired a new stake in Bristol-Myers Squibb (NYSE:BMY) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 7,320 shares of the biopharmaceutical company’s stock, valued at approximately $304,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Global Assets Advisory LLC acquired a new position in Bristol-Myers Squibb in the first quarter valued at approximately $5,161,000. Lincoln National Corp raised its stake in shares of Bristol-Myers Squibb by 7.7% during the first quarter. Lincoln National Corp now owns 42,894 shares of the biopharmaceutical company’s stock worth $2,326,000 after purchasing an additional 3,052 shares during the last quarter. Chapin Davis Inc. raised its position 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 worth $1,223,000 after acquiring an additional 4,159 shares in the last quarter. Sierra Summit Advisors LLC purchased a new position in Bristol-Myers Squibb in the fourth quarter worth $755,000. Finally, Scotia Capital Inc. raised its position in Bristol-Myers Squibb by 48.6% in the fourth quarter. Scotia Capital Inc. now owns 236,724 shares of the biopharmaceutical company’s stock worth $12,146,000 after acquiring an additional 77,471 shares in the last quarter. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Bristol-Myers Squibb Stock Up 1.8 %

BMY opened at $50.00 on Tuesday. Bristol-Myers Squibb has a one year low of $39.35 and a one year high of $59.46. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.02 and a current ratio of 1.16. The stock’s fifty day moving average is $46.99 and its 200-day moving average is $46.47. The company has a market capitalization of $101.36 billion, a PE ratio of -16.13, a P/E/G ratio of 12.59 and a beta of 0.46.

Bristol-Myers Squibb (NYSE:BMY) last issued 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 the consensus estimate of $11.54 billion. During the same quarter in the previous year, the company posted $1.75 earnings per share. Bristol-Myers Squibb’s revenue for the quarter was up 8.7% compared to the same quarter last year. On average, equities analysts predict that Bristol-Myers Squibb will post 0.77 EPS for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 4th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.40 annualized dividend and a dividend yield of 4.80%. Bristol-Myers Squibb’s dividend payout ratio is presently -77.42%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on BMY shares. Jefferies Financial Group upped their target price on Bristol-Myers Squibb from $49.00 to $51.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. StockNews.com raised Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 29th. Deutsche Bank Aktiengesellschaft decreased their price objective on 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. TD Cowen increased their price objective on Bristol-Myers Squibb from $45.00 to $53.00 and gave the company a “hold” rating in a research note on Monday, August 12th. Finally, Cantor Fitzgerald reissued a “neutral” rating and issued a $50.00 price target on shares of Bristol-Myers Squibb in a research note on Monday. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $55.00.

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.