First Manhattan Co. lifted its stake in shares of Bristol-Myers Squibb Co (NYSE:BMY) by 16.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 52,230 shares of the biopharmaceutical company’s stock after acquiring an additional 7,440 shares during the quarter. First Manhattan Co.’s holdings in Bristol-Myers Squibb were worth $3,242,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. CSat Investment Advisory L.P. bought a new stake in shares of Bristol-Myers Squibb during the 2nd quarter worth $113,000. Landaas & Co. WI ADV bought a new stake in shares of Bristol-Myers Squibb during the 2nd quarter worth $131,000. Mount Yale Investment Advisors LLC bought a new stake in shares of Bristol-Myers Squibb during the 1st quarter worth $179,000. Selective Wealth Management bought a new stake in shares of Bristol-Myers Squibb during the 3rd quarter worth $184,000. Finally, LFA Lugano Financial Advisors SA boosted its stake in shares of Bristol-Myers Squibb by 85.8% during the 3rd quarter. LFA Lugano Financial Advisors SA now owns 3,207 shares of the biopharmaceutical company’s stock worth $199,000 after acquiring an additional 1,481 shares in the last quarter. 72.32% of the stock is owned by institutional investors and hedge funds.

BMY opened at $54.30 on Friday. The firm has a market capitalization of $91.50 billion, a PE ratio of 16.56, a price-to-earnings-growth ratio of 1.50 and a beta of 0.98. Bristol-Myers Squibb Co has a 12-month low of $49.96 and a 12-month high of $70.05. The company has a quick ratio of 1.28, a current ratio of 1.40 and a debt-to-equity ratio of 0.46.

Bristol-Myers Squibb (NYSE:BMY) last released its earnings results on Thursday, July 26th. The biopharmaceutical company reported $1.01 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.87 by $0.14. The company had revenue of $5.70 billion during the quarter, compared to analyst estimates of $5.48 billion. Bristol-Myers Squibb had a return on equity of 42.58% and a net margin of 1.74%. The company’s revenue for the quarter was up 10.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.74 earnings per share. Sell-side analysts anticipate that Bristol-Myers Squibb Co will post 3.64 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 1st. Investors of record on Friday, October 5th will be issued a dividend of $0.40 per share. The ex-dividend date is Thursday, October 4th. This represents a $1.60 annualized dividend and a dividend yield of 2.95%. Bristol-Myers Squibb’s dividend payout ratio is 53.16%.

Several equities research analysts have recently weighed in on the company. Guggenheim assumed coverage on Bristol-Myers Squibb in a research note on Monday, October 8th. They set a “neutral” rating for the company. JPMorgan Chase & Co. raised their price objective on Bristol-Myers Squibb from $70.00 to $74.00 and gave the stock an “overweight” rating in a research note on Monday, October 8th. Zacks Investment Research raised Bristol-Myers Squibb from a “hold” rating to a “buy” rating and set a $70.00 price objective for the company in a research note on Friday, October 5th. Credit Suisse Group reissued a “hold” rating and set a $61.00 price objective on shares of Bristol-Myers Squibb in a research note on Wednesday, September 12th. Finally, Atlantic Securities upgraded Bristol-Myers Squibb from an “underweight” rating to a “neutral” rating and set a $57.00 target price for the company in a report on Wednesday, August 8th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have assigned a buy rating to the stock. Bristol-Myers Squibb has an average rating of “Hold” and a consensus price target of $63.13.

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.

Further Reading: Leveraged Buyout (LBO) Explained

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.