Mirae Asset Global Investments Co. Ltd. Buys 93,528 Shares of Bristol Myers Squibb Company $BMY

Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Bristol Myers Squibb Company (NYSE:BMY) by 4.4% in the third quarter, Holdings Channel reports. The fund owned 2,211,845 shares of the biopharmaceutical company’s stock after acquiring an additional 93,528 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Bristol Myers Squibb were worth $99,754,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Trifecta Capital Advisors LLC acquired a new stake in shares of Bristol Myers Squibb during the 2nd quarter worth about $25,000. Darwin Wealth Management LLC bought a new stake in Bristol Myers Squibb during the second quarter worth about $25,000. Harbor Capital Advisors Inc. grew its stake in Bristol Myers Squibb by 107.2% during the third quarter. Harbor Capital Advisors Inc. now owns 605 shares of the biopharmaceutical company’s stock worth $27,000 after buying an additional 313 shares during the last quarter. REAP Financial Group LLC increased its holdings in shares of Bristol Myers Squibb by 202.8% during the second quarter. REAP Financial Group LLC now owns 639 shares of the biopharmaceutical company’s stock worth $30,000 after buying an additional 428 shares in the last quarter. Finally, DHJJ Financial Advisors Ltd. raised its stake in shares of Bristol Myers Squibb by 51.9% in the second quarter. DHJJ Financial Advisors Ltd. now owns 781 shares of the biopharmaceutical company’s stock valued at $36,000 after acquiring an additional 267 shares during the last quarter. Institutional investors own 76.41% of the company’s stock.

Bristol Myers Squibb Stock Performance

Bristol Myers Squibb stock opened at $54.66 on Thursday. The company has a market cap of $111.26 billion, a PE ratio of 18.46, a PEG ratio of 0.17 and a beta of 0.29. The company has a current ratio of 1.27, a quick ratio of 1.17 and a debt-to-equity ratio of 2.39. Bristol Myers Squibb Company has a 1 year low of $42.52 and a 1 year high of $63.33. The company’s 50-day moving average is $53.07 and its two-hundred day moving average is $48.55.

Bristol Myers Squibb (NYSE:BMY) last posted its quarterly earnings results on Thursday, October 30th. The biopharmaceutical company reported $1.63 earnings per share for the quarter, topping analysts’ consensus estimates of $1.52 by $0.11. Bristol Myers Squibb had a net margin of 12.57% and a return on equity of 76.53%. The business had revenue of $12.22 billion during the quarter, compared to the consensus estimate of $11.75 billion. During the same period in the previous year, the firm posted $1.80 earnings per share. Bristol Myers Squibb’s revenue for the quarter was up 2.8% compared to the same quarter last year. Equities analysts anticipate that Bristol Myers Squibb Company will post 6.74 earnings per share for the current year.

Bristol Myers Squibb Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Friday, January 2nd will be given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 4.6%. The ex-dividend date is Friday, January 2nd. This is a positive change from Bristol Myers Squibb’s previous quarterly dividend of $0.62. Bristol Myers Squibb’s dividend payout ratio is presently 85.14%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on BMY shares. UBS Group upgraded Bristol Myers Squibb from a “neutral” rating to a “buy” rating and increased their price target for the stock from $46.00 to $65.00 in a research report on Wednesday, January 7th. Morgan Stanley restated an “underweight” rating and set a $37.00 target price (up previously from $36.00) on shares of Bristol Myers Squibb in a report on Friday, December 12th. Bank of America raised Bristol Myers Squibb from a “neutral” rating to a “buy” rating and lifted their price target for the company from $52.00 to $61.00 in a report on Monday, December 15th. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Bristol Myers Squibb in a research note on Monday, November 24th. Finally, HSBC reissued a “hold” rating and set a $53.00 price target on shares of Bristol Myers Squibb in a research note on Wednesday, December 10th. Seven analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Bristol Myers Squibb presently has an average rating of “Hold” and a consensus target price of $57.43.

Bristol Myers Squibb Profile

Bristol Myers Squibb is a global biopharmaceutical company headquartered in Princeton, New Jersey, focused on discovering, developing and delivering medicines for serious diseases. The company’s core activities include research and development, clinical development, manufacturing and commercialization of prescription pharmaceuticals across multiple therapeutic areas. BMS concentrates on advancing therapies in oncology, hematology, immunology, cardiovascular disease and specialty areas through both small molecules and biologics.

BMS’s marketed portfolio and late‑stage pipeline reflect a strong emphasis on cancer and immune‑mediated conditions.