Narwhal Capital Management Acquires New Stake in Bristol-Myers Squibb Co (NYSE:BMY)

Narwhal Capital Management bought a new position in shares of Bristol-Myers Squibb Co (NYSE:BMY) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 6,631 shares of the biopharmaceutical company’s stock, valued at approximately $316,000.

A number of other hedge funds have also added to or reduced their stakes in BMY. Vanguard Group Inc grew its position in shares of Bristol-Myers Squibb by 1.0% during the third quarter. Vanguard Group Inc now owns 128,376,159 shares of the biopharmaceutical company’s stock valued at $7,969,593,000 after purchasing an additional 1,229,553 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of Bristol-Myers Squibb by 0.9% in the 4th quarter. BlackRock Inc. now owns 115,573,078 shares of the biopharmaceutical company’s stock valued at $6,007,489,000 after acquiring an additional 999,193 shares during the last quarter. Dodge & Cox lifted its holdings in shares of Bristol-Myers Squibb by 0.8% in the 3rd quarter. Dodge & Cox now owns 32,969,186 shares of the biopharmaceutical company’s stock valued at $2,046,727,000 after acquiring an additional 264,100 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Bristol-Myers Squibb by 4.4% in the 4th quarter. Northern Trust Corp now owns 22,576,884 shares of the biopharmaceutical company’s stock valued at $1,173,547,000 after acquiring an additional 954,877 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Bristol-Myers Squibb by 1.1% in the 4th quarter. Bank of New York Mellon Corp now owns 17,303,884 shares of the biopharmaceutical company’s stock valued at $899,456,000 after acquiring an additional 180,711 shares during the last quarter. 74.09% of the stock is currently owned by institutional investors and hedge funds.

BMY stock traded up $0.31 during trading on Wednesday, hitting $47.74. 8,758,808 shares of the company’s stock traded hands, compared to its average volume of 18,652,727. The firm has a market cap of $77.58 billion, a price-to-earnings ratio of 11.99, a PEG ratio of 2.19 and a beta of 0.77. The company has a quick ratio of 1.79, a current ratio of 1.93 and a debt-to-equity ratio of 0.37. Bristol-Myers Squibb Co has a 1 year low of $44.30 and a 1 year high of $63.69.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings data on Thursday, April 25th. The biopharmaceutical company reported $1.10 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.09 by $0.01. The company had revenue of $5.92 billion for the quarter, compared to analyst estimates of $5.72 billion. Bristol-Myers Squibb had a net margin of 22.23% and a return on equity of 48.72%. Bristol-Myers Squibb’s revenue was up 14.0% compared to the same quarter last year. During the same period last year, the company posted $0.94 earnings per share. Analysts anticipate that Bristol-Myers Squibb Co will post 4.18 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Friday, April 5th were issued a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 3.44%. The ex-dividend date was Thursday, April 4th. Bristol-Myers Squibb’s payout ratio is 41.21%.

In other news, Director Theodore R. Samuels II purchased 5,000 shares of the business’s stock in a transaction on Thursday, May 16th. The shares were acquired at an average cost of $47.29 per share, with a total value of $236,450.00. Following the completion of the acquisition, the director now owns 27,000 shares of the company’s stock, valued at $1,276,830. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Karen Murphy Santiago sold 3,065 shares of Bristol-Myers Squibb stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $47.56, for a total transaction of $145,771.40. Following the completion of the transaction, the insider now directly owns 3,066 shares in the company, valued at $145,818.96. The disclosure for this sale can be found here. Company insiders own 0.12% of the company’s stock.

A number of research analysts recently commented on BMY shares. Barclays raised shares of Bristol-Myers Squibb from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $53.00 to $55.00 in a report on Friday, May 3rd. JPMorgan Chase & Co. initiated coverage on shares of Bristol-Myers Squibb in a report on Friday, May 3rd. They issued an “overweight” rating and a $62.00 price target for the company. BMO Capital Markets reissued a “buy” rating and issued a $59.00 price objective on shares of Bristol-Myers Squibb in a research note on Tuesday, February 19th. Bank of America set a $53.00 price objective on shares of Bristol-Myers Squibb and gave the stock a “hold” rating in a research note on Friday, January 25th. Finally, Zacks Investment Research raised shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and set a $60.00 price objective for the company in a research note on Tuesday, March 5th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the company. Bristol-Myers Squibb has an average rating of “Hold” and an average price target of $56.88.

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Bristol-Myers Squibb Profile

Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. The company offers drugs in oncology, immunoscience, cardiovascular, and fibrotic diseases. The company's products include Opdivo, a biological product for anti-cancer indications; Eliquis, an oral inhibitor targeted at stroke prevention in adult patients with non-valvular atrial fibrillation, and the prevention and treatment of venous thromboembolic disorders; and Orencia, a biological product for adult patients with moderately to severely active RA and prostate-specific antigen, as well as reducing signs and symptoms in certain pediatric patients with moderately to severely active polyarticular juvenile idiopathic arthritis.

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

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