Parallel Advisors LLC Increases Stake in Bristol-Myers Squibb Co (BMY)

Parallel Advisors LLC lifted its position in Bristol-Myers Squibb Co (NYSE:BMY) by 33.6% in the 3rd quarter, HoldingsChannel reports. The fund owned 27,414 shares of the biopharmaceutical company’s stock after acquiring an additional 6,901 shares during the quarter. Parallel Advisors LLC’s holdings in Bristol-Myers Squibb were worth $1,702,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in BMY. JNBA Financial Advisors grew its stake in shares of Bristol-Myers Squibb by 348.8% in the 3rd quarter. JNBA Financial Advisors now owns 13,025 shares of the biopharmaceutical company’s stock worth $809,000 after buying an additional 10,123 shares during the last quarter. Private Capital Group LLC grew its stake in shares of Bristol-Myers Squibb by 13.7% in the 3rd quarter. Private Capital Group LLC now owns 12,432 shares of the biopharmaceutical company’s stock worth $771,000 after buying an additional 1,495 shares during the last quarter. Cypress Capital Management LLC WY grew its stake in shares of Bristol-Myers Squibb by 154.7% in the 3rd quarter. Cypress Capital Management LLC WY now owns 1,910 shares of the biopharmaceutical company’s stock worth $119,000 after buying an additional 1,160 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its stake in shares of Bristol-Myers Squibb by 19.7% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 555,319 shares of the biopharmaceutical company’s stock worth $34,476,000 after buying an additional 91,378 shares during the last quarter. Finally, Capital Management Corp VA grew its stake in shares of Bristol-Myers Squibb by 3.7% in the 3rd quarter. Capital Management Corp VA now owns 193,174 shares of the biopharmaceutical company’s stock worth $11,992,000 after buying an additional 6,805 shares during the last quarter. 72.29% of the stock is owned by hedge funds and other institutional investors.

Several analysts recently weighed in on the company. ValuEngine upgraded Bristol-Myers Squibb from a “sell” rating to a “hold” rating in a research note on Saturday, July 14th. Credit Suisse Group upped their price target on Bristol-Myers Squibb from $58.00 to $61.00 and gave the stock a “neutral” rating in a research note on Friday, July 27th. BMO Capital Markets restated a “hold” rating on shares of Bristol-Myers Squibb in a research note on Sunday, July 22nd. Barclays increased their target price on Bristol-Myers Squibb from $55.00 to $58.00 and gave the company an “equal weight” rating in a research note on Friday, October 12th. Finally, William Blair reiterated an “outperform” rating on shares of Bristol-Myers Squibb in a research note on Monday, October 22nd. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $62.42.

BMY stock opened at $50.69 on Friday. The firm has a market capitalization of $82.49 billion, a PE ratio of 16.84, a PEG ratio of 1.41 and a beta of 1.08. Bristol-Myers Squibb Co has a 1 year low of $46.94 and a 1 year high of $70.05. The company has a current ratio of 1.53, a quick ratio of 1.40 and a debt-to-equity ratio of 0.41.

Bristol-Myers Squibb (NYSE:BMY) last announced its earnings results on Thursday, October 25th. The biopharmaceutical company reported $1.09 EPS for the quarter, topping the Zacks’ consensus estimate of $0.91 by $0.18. Bristol-Myers Squibb had a return on equity of 47.89% and a net margin of 6.50%. The company had revenue of $5.69 billion for the quarter, compared to analysts’ expectations of $5.72 billion. On average, equities research analysts expect that Bristol-Myers Squibb Co will post 3.87 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Thursday, November 1st. Investors of record on Friday, October 5th were issued a $0.40 dividend. The ex-dividend date was Thursday, October 4th. This represents a $1.60 dividend on an annualized basis and a yield of 3.16%. Bristol-Myers Squibb’s dividend payout ratio is currently 53.16%.

About Bristol-Myers Squibb

Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, and distributes biopharmaceutical products worldwide. The company offers drugs in various therapeutic classes, such as oncology; cardiovascular; immunoscience; and virology, including human immunodeficiency virus (HIV) infection.

See Also: What are Institutional Investors?

Want to see what other hedge funds are holding BMY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bristol-Myers Squibb Co (NYSE:BMY).

Institutional Ownership by Quarter for Bristol-Myers Squibb (NYSE:BMY)

Receive News & Ratings for Bristol-Myers Squibb Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bristol-Myers Squibb and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply