Kovack Advisors Inc. Acquires 5,279 Shares of Bristol-Myers Squibb (NYSE:BMY)

Kovack Advisors Inc. increased its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 29.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,025 shares of the biopharmaceutical company’s stock after acquiring an additional 5,279 shares during the period. Kovack Advisors Inc.’s holdings in Bristol-Myers Squibb were worth $1,181,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of BMY. Boston Trust Walden Corp raised its holdings in Bristol-Myers Squibb by 5.3% in the third quarter. Boston Trust Walden Corp now owns 15,258 shares of the biopharmaceutical company’s stock worth $886,000 after buying an additional 771 shares during the last quarter. Strategic Blueprint LLC raised its holdings in shares of Bristol-Myers Squibb by 8.6% during the third quarter. Strategic Blueprint LLC now owns 5,440 shares of the biopharmaceutical company’s stock valued at $316,000 after purchasing an additional 431 shares during the last quarter. Connecticut Wealth Management LLC purchased a new position in shares of Bristol-Myers Squibb during the third quarter valued at approximately $240,000. Grimes & Company Inc. raised its holdings in shares of Bristol-Myers Squibb by 4.4% during the third quarter. Grimes & Company Inc. now owns 331,440 shares of the biopharmaceutical company’s stock valued at $19,237,000 after purchasing an additional 14,084 shares during the last quarter. Finally, Zullo Investment Group Inc. raised its holdings in shares of Bristol-Myers Squibb by 8.1% during the third quarter. Zullo Investment Group Inc. now owns 3,506 shares of the biopharmaceutical company’s stock valued at $203,000 after purchasing an additional 262 shares during the last quarter. Institutional investors own 76.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Societe Generale cut shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a report on Monday, March 11th. Redburn Atlantic lowered shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and cut their target price for the company from $77.00 to $54.00 in a research report on Tuesday, February 6th. BMO Capital Markets decreased their price target on shares of Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating on the stock in a research report on Friday. Barclays decreased their price target on shares of Bristol-Myers Squibb from $51.00 to $43.00 and set an “equal weight” rating on the stock in a research report on Friday. Finally, StockNews.com downgraded shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research report on Monday, April 15th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $60.00.

Bristol-Myers Squibb Price Performance

BMY stock traded up $0.15 during trading on Friday, hitting $44.85. 21,281,927 shares of the company’s stock traded hands, compared to its average volume of 12,141,314. Bristol-Myers Squibb has a 52 week low of $44.34 and a 52 week high of $69.10. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.31 and a current ratio of 1.43. The business has a fifty day simple moving average of $51.03 and a 200 day simple moving average of $51.18. The stock has a market capitalization of $90.90 billion, a price-to-earnings ratio of -14.47, a P/E/G ratio of 16.25 and a beta of 0.39.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings data on Thursday, April 25th. The biopharmaceutical company reported ($4.40) EPS for the quarter, beating the consensus estimate of ($4.53) by $0.13. The business had revenue of $11.87 billion during the quarter, compared to analyst estimates of $11.45 billion. Bristol-Myers Squibb had a negative net margin of 13.50% and a positive return on equity of 50.04%. Bristol-Myers Squibb’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter last year, the business earned $2.05 earnings per share. As a group, research analysts expect that Bristol-Myers Squibb will post 0.55 EPS for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Friday, April 5th will be issued a $0.60 dividend. The ex-dividend date is Thursday, April 4th. This represents a $2.40 annualized dividend and a dividend yield of 5.35%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -77.42%.

Bristol-Myers Squibb Profile

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.