Bristol-Myers Squibb (NYSE:BMY) Stake Raised by Richard W. Paul & Associates LLC

Richard W. Paul & Associates LLC boosted its holdings in Bristol-Myers Squibb (NYSE:BMYFree Report) by 50.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,791 shares of the biopharmaceutical company’s stock after acquiring an additional 3,973 shares during the quarter. Richard W. Paul & Associates LLC’s holdings in Bristol-Myers Squibb were worth $605,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. OFI Invest Asset Management acquired a new stake in Bristol-Myers Squibb during the 3rd quarter worth about $25,000. True Wealth Design LLC acquired a new stake in Bristol-Myers Squibb during the 4th quarter worth about $26,000. Milestone Investment Advisors LLC acquired a new stake in Bristol-Myers Squibb during the 3rd quarter worth about $27,000. Coppell Advisory Solutions LLC acquired a new stake in Bristol-Myers Squibb during the 2nd quarter worth about $28,000. Finally, Blue Bell Private Wealth Management LLC raised its holdings in Bristol-Myers Squibb by 61.5% during the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 525 shares of the biopharmaceutical company’s stock worth $30,000 after buying an additional 200 shares during the period. 76.41% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Bank of America cut Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and lowered their target price for the company from $68.00 to $60.00 in a research note on Wednesday, January 3rd. Wells Fargo & Company lowered their target price on Bristol-Myers Squibb from $58.00 to $51.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 6th. William Blair reissued a “market perform” rating on shares of Bristol-Myers Squibb in a research note on Monday. StockNews.com raised Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research note on Friday, March 1st. Finally, Societe Generale cut Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research note on Monday, March 11th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Bristol-Myers Squibb presently has a consensus rating of “Hold” and an average target price of $61.12.

Check Out Our Latest Stock Report on BMY

Bristol-Myers Squibb Stock Down 0.4 %

Shares of NYSE:BMY traded down $0.23 during trading on Wednesday, hitting $52.51. 4,277,238 shares of the company’s stock traded hands, compared to its average volume of 16,455,184. Bristol-Myers Squibb has a 52 week low of $47.58 and a 52 week high of $71.07. The company has a current ratio of 1.43, a quick ratio of 1.31 and a debt-to-equity ratio of 1.24. The company has a market cap of $106.43 billion, a price-to-earnings ratio of 13.67, a price-to-earnings-growth ratio of 1.60 and a beta of 0.39. The company has a 50-day moving average price of $51.08 and a 200-day moving average price of $52.21.

Bristol-Myers Squibb (NYSE:BMYGet Free Report) last released its earnings results on Friday, February 2nd. The biopharmaceutical company reported $1.70 EPS for the quarter, beating the consensus estimate of $1.55 by $0.15. The firm had revenue of $11.48 billion for the quarter, compared to analysts’ expectations of $11.19 billion. Bristol-Myers Squibb had a return on equity of 50.95% and a net margin of 17.83%. The business’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.82 EPS. As a group, research analysts forecast that Bristol-Myers Squibb will post 6.61 EPS for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Friday, April 5th will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 4.57%. The ex-dividend date is Thursday, April 4th. Bristol-Myers Squibb’s dividend payout ratio is 62.18%.

Bristol-Myers Squibb declared that its Board of Directors has approved a share repurchase plan on Thursday, December 7th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the biopharmaceutical company to purchase up to 2.9% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Bristol-Myers Squibb Profile

(Free Report)

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.

See Also

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

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