Benson Investment Management Company Inc. increased its stake in shares of Bristol-Myers Squibb Company (NYSE:BMY) by 1.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 41,290 shares of the biopharmaceutical company’s stock after buying an additional 475 shares during the period. Bristol-Myers Squibb makes up about 2.1% of Benson Investment Management Company Inc.’s portfolio, making the stock its 22nd largest position. Benson Investment Management Company Inc.’s holdings in Bristol-Myers Squibb were worth $2,301,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently added to or reduced their stakes in BMY. Quantitative Systematic Strategies LLC raised its stake in Bristol-Myers Squibb by 41.5% in the second quarter. Quantitative Systematic Strategies LLC now owns 45,451 shares of the biopharmaceutical company’s stock valued at $2,537,000 after buying an additional 13,323 shares during the last quarter. Duncker Streett & Co. Inc. raised its stake in Bristol-Myers Squibb by 3.6% in the second quarter. Duncker Streett & Co. Inc. now owns 62,946 shares of the biopharmaceutical company’s stock valued at $3,508,000 after buying an additional 2,177 shares during the last quarter. Delta Asset Management LLC TN raised its stake in Bristol-Myers Squibb by 1.4% in the second quarter. Delta Asset Management LLC TN now owns 68,741 shares of the biopharmaceutical company’s stock valued at $3,831,000 after buying an additional 962 shares during the last quarter. Bridges Investment Counsel Inc. raised its stake in Bristol-Myers Squibb by 79.8% in the second quarter. Bridges Investment Counsel Inc. now owns 19,360 shares of the biopharmaceutical company’s stock valued at $1,079,000 after buying an additional 8,593 shares during the last quarter. Finally, Bridges Investment Management Inc. raised its stake in Bristol-Myers Squibb by 4.1% in the second quarter. Bridges Investment Management Inc. now owns 13,071 shares of the biopharmaceutical company’s stock valued at $728,000 after buying an additional 517 shares during the last quarter. Institutional investors own 68.78% of the company’s stock.

Shares of Bristol-Myers Squibb Company (BMY) traded up 1.373% during trading on Thursday, hitting $60.195. The stock had a trading volume of 4,288,690 shares. Bristol-Myers Squibb Company has a 12 month low of $46.01 and a 12 month high of $60.45. The stock has a market cap of $98.72 billion, a price-to-earnings ratio of 21.985 and a beta of 1.17. The company’s 50 day moving average price is $56.20 and its 200 day moving average price is $55.23.

Bristol-Myers Squibb (NYSE:BMY) last released its earnings results on Thursday, July 27th. The biopharmaceutical company reported $0.74 EPS for the quarter, topping the Zacks’ consensus estimate of $0.73 by $0.01. Bristol-Myers Squibb had a return on equity of 32.33% and a net margin of 22.66%. The firm had revenue of $5.14 billion during the quarter, compared to the consensus estimate of $5.09 billion. During the same quarter in the previous year, the company posted $0.69 earnings per share. The company’s revenue was up 5.6% compared to the same quarter last year. Equities research analysts expect that Bristol-Myers Squibb Company will post $2.98 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 1st. Investors of record on Friday, July 7th were issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.63%. The ex-dividend date of this dividend was Wednesday, July 5th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is 56.73%.

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Several analysts recently weighed in on the company. Jefferies Group LLC restated a “buy” rating and set a $66.00 price target (up previously from $63.00) on shares of Bristol-Myers Squibb in a report on Thursday, August 24th. Vetr lowered Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating and set a $64.20 target price on the stock. in a research note on Tuesday, August 22nd. Credit Suisse Group set a $58.00 target price on Bristol-Myers Squibb and gave the stock a “hold” rating in a research note on Wednesday, August 16th. Cowen and Company set a $65.00 target price on Bristol-Myers Squibb and gave the stock a “hold” rating in a research note on Monday, August 14th. Finally, BidaskClub upgraded Bristol-Myers Squibb from a “sell” rating to a “hold” rating in a research note on Saturday, August 12th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eleven have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $62.31.

In other news, Director Theodore R. Samuels II bought 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 2nd. The stock was purchased at an average price of $55.94 per share, with a total value of $335,640.00. Following the completion of the acquisition, the director now directly owns 18,000 shares of the company’s stock, valued at approximately $1,006,920. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.23% of the company’s stock.

Bristol-Myers Squibb Company Profile

Bristol-Myers Squibb Company is engaged in the discovery, development, licensing, manufacturing, marketing, distribution and sale of biopharmaceutical products. The Company’s pharmaceutical products include chemically synthesized drugs, or small molecules, and products produced from biological processes called biologics.

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

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