Bristol-Myers Squibb (NYSE:BMY) Stake Lifted by Traynor Capital Management Inc.

Traynor Capital Management Inc. increased its position in Bristol-Myers Squibb (NYSE:BMY) by 10.6% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 6,975 shares of the biopharmaceutical company’s stock after purchasing an additional 669 shares during the period. Traynor Capital Management Inc.’s holdings in Bristol-Myers Squibb were worth $361,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in BMY. Pallas Capital Advisors LLC boosted its position in shares of Bristol-Myers Squibb by 51.2% in the third quarter. Pallas Capital Advisors LLC now owns 28,147 shares of the biopharmaceutical company’s stock worth $1,490,000 after buying an additional 9,537 shares during the period. Orrstown Financial Services Inc. purchased a new stake in Bristol-Myers Squibb in the 3rd quarter worth about $453,000. Autumn Glory Partners LLC acquired a new stake in Bristol-Myers Squibb during the 3rd quarter worth about $211,000. Nisa Investment Advisors LLC grew its stake in Bristol-Myers Squibb by 8.9% during the 3rd quarter. Nisa Investment Advisors LLC now owns 554,950 shares of the biopharmaceutical company’s stock valued at $28,713,000 after acquiring an additional 45,161 shares in the last quarter. Finally, Patriot Financial Group Insurance Agency LLC increased its holdings in shares of Bristol-Myers Squibb by 3.8% in the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 5,595 shares of the biopharmaceutical company’s stock valued at $289,000 after purchasing an additional 206 shares during the period. 76.41% of the stock is owned by institutional investors and hedge funds.

Bristol-Myers Squibb Price Performance

NYSE BMY opened at $52.52 on Wednesday. Bristol-Myers Squibb has a 1 year low of $39.35 and a 1 year high of $55.03. The company has a fifty day simple moving average of $50.89 and a 200 day simple moving average of $46.44. The company has a current ratio of 1.16, a quick ratio of 1.02 and a debt-to-equity ratio of 2.86. The company has a market cap of $106.46 billion, a P/E ratio of -16.94, a P/E/G ratio of 13.75 and a beta of 0.46.

Bristol-Myers Squibb Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 4th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 4.57%. The ex-dividend date of this dividend is Friday, October 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is -77.42%.

Analysts Set New Price Targets

Several analysts recently commented on the stock. TD Cowen raised their price target on shares of Bristol-Myers Squibb from $53.00 to $59.00 and gave the stock a “hold” rating in a report on Monday, October 7th. Sanford C. Bernstein assumed coverage on shares of Bristol-Myers Squibb in a research note on Thursday, October 17th. They set a “market perform” rating and a $56.00 target price for the company. UBS Group upped their price target on shares of Bristol-Myers Squibb from $50.00 to $54.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Jefferies Financial Group increased their price objective on Bristol-Myers Squibb from $49.00 to $51.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. Finally, BMO Capital Markets restated a “market perform” rating and issued a $48.00 target price on shares of Bristol-Myers Squibb in a research note on Monday, September 23rd. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Bristol-Myers Squibb currently has a consensus rating of “Hold” and an average target price of $53.57.

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 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.