Seven Eight Capital LP Makes New $667,000 Investment in Bristol-Myers Squibb (NYSE:BMY)

Seven Eight Capital LP acquired a new position in shares of Bristol-Myers Squibb (NYSE:BMY) in the 1st quarter, according to its most recent filing with the SEC. The fund acquired 9,622 shares of the biopharmaceutical company’s stock, valued at approximately $667,000.

Other large investors also recently bought and sold shares of the company. BlackRock Inc. lifted its holdings in Bristol-Myers Squibb by 1.7% in the first quarter. BlackRock Inc. now owns 175,584,734 shares of the biopharmaceutical company’s stock valued at $12,169,778,000 after acquiring an additional 2,856,746 shares during the last quarter. Norges Bank acquired a new position in Bristol-Myers Squibb during the fourth quarter worth $1,873,696,000. Moneta Group Investment Advisors LLC lifted its stake in Bristol-Myers Squibb by 114,228.7% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 21,469,785 shares of the biopharmaceutical company’s stock worth $1,544,751,000 after purchasing an additional 21,451,006 shares in the last quarter. Boston Partners lifted its stake in Bristol-Myers Squibb by 31.1% during the first quarter. Boston Partners now owns 18,080,568 shares of the biopharmaceutical company’s stock worth $1,252,480,000 after purchasing an additional 4,286,479 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Bristol-Myers Squibb by 3.8% during the first quarter. Dimensional Fund Advisors LP now owns 13,088,594 shares of the biopharmaceutical company’s stock worth $907,026,000 after purchasing an additional 473,756 shares in the last quarter. 74.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Bristol-Myers Squibb

In related news, EVP Ann Powell sold 17,986 shares of the stock in a transaction that occurred on Thursday, August 24th. The shares were sold at an average price of $61.25, for a total transaction of $1,101,642.50. Following the completion of the sale, the executive vice president now directly owns 27,868 shares of the company’s stock, valued at $1,706,915. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, EVP Ann Powell sold 17,986 shares of the stock in a transaction that occurred on Thursday, August 24th. The shares were sold at an average price of $61.25, for a total transaction of $1,101,642.50. Following the completion of the sale, the executive vice president now directly owns 27,868 shares of the company’s stock, valued at $1,706,915. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Robert M. Plenge sold 732 shares of the company’s stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $61.14, for a total transaction of $44,754.48. Following the completion of the sale, the executive vice president now owns 6,584 shares of the company’s stock, valued at approximately $402,545.76. The disclosure for this sale can be found here. Company insiders own 0.09% of the company’s stock.

Analyst Upgrades and Downgrades

BMY has been the topic of a number of research reports. Cantor Fitzgerald decreased their price target on Bristol-Myers Squibb from $88.00 to $85.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 19th. Wells Fargo & Company reduced their price objective on Bristol-Myers Squibb from $78.00 to $65.00 and set an “equal weight” rating on the stock in a research note on Friday, July 28th. BMO Capital Markets reduced their price objective on Bristol-Myers Squibb from $87.00 to $79.00 and set an “outperform” rating on the stock in a research note on Friday, July 28th. Daiwa Capital Markets initiated coverage on Bristol-Myers Squibb in a research note on Wednesday, June 28th. They issued an “outperform” rating and a $70.00 price objective on the stock. Finally, Atlantic Securities reduced their price objective on Bristol-Myers Squibb from $90.00 to $85.00 and set an “overweight” rating on the stock in a research note on Friday, July 28th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $71.14.

Bristol-Myers Squibb Price Performance

Shares of NYSE:BMY opened at $60.82 on Monday. The company has a quick ratio of 1.28, a current ratio of 1.39 and a debt-to-equity ratio of 1.08. Bristol-Myers Squibb has a fifty-two week low of $59.45 and a fifty-two week high of $81.43. The firm has a 50-day simple moving average of $62.03 and a 200 day simple moving average of $65.47. The company has a market cap of $127.06 billion, a PE ratio of 16.18, a P/E/G ratio of 1.58 and a beta of 0.42.

Bristol-Myers Squibb (NYSE:BMY) last posted its earnings results on Thursday, July 27th. The biopharmaceutical company reported $1.75 EPS for the quarter, missing the consensus estimate of $1.99 by ($0.24). Bristol-Myers Squibb had a return on equity of 50.51% and a net margin of 17.62%. The firm had revenue of $11.23 billion during the quarter, compared to the consensus estimate of $11.81 billion. During the same quarter last year, the company posted $1.93 EPS. Bristol-Myers Squibb’s revenue for the quarter was down 5.6% on a year-over-year basis. On average, sell-side analysts anticipate that Bristol-Myers Squibb will post 7.49 EPS for the current year.

Bristol-Myers Squibb Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 1st. Stockholders of record on Friday, July 7th were paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.75%. The ex-dividend date of this dividend was Thursday, July 6th. Bristol-Myers Squibb’s dividend payout ratio is currently 60.64%.

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, an oral inhibitor for reduction in risk of stroke/systemic embolism in NVAF, and for the treatment of DVT/PE; Opdivo for anti-cancer indications; Pomalyst/Imnovid indicated for patients with multiple myeloma; Orencia for adult patients with active RA and psoriatic arthritis; and Sprycel for the treatment of Philadelphia chromosome-positive chronic myeloid leukemia.