Patrick M Sweeney & Associates Inc. Purchases New Position in Bristol-Myers Squibb (NYSE:BMY)

Patrick M Sweeney & Associates Inc. acquired a new stake in Bristol-Myers Squibb (NYSE:BMY) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 10,225 shares of the biopharmaceutical company’s stock, valued at approximately $525,000.

A number of other hedge funds have also recently added to or reduced their stakes in BMY. OFI Invest Asset Management acquired a new position in Bristol-Myers Squibb in the 3rd quarter worth about $25,000. Milestone Investment Advisors LLC acquired a new position in shares of Bristol-Myers Squibb in the third quarter valued at approximately $27,000. Blue Bell Private Wealth Management LLC boosted its position 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. Turtle Creek Wealth Advisors LLC bought a new stake in Bristol-Myers Squibb during the 4th quarter worth approximately $40,000. Finally, Wetzel Investment Advisors Inc. bought a new position in shares of Bristol-Myers Squibb during the fourth quarter valued at $40,000. Institutional investors and hedge funds own 76.41% of the company’s stock.

Bristol-Myers Squibb Stock Performance

Shares of NYSE BMY traded down $0.37 during mid-day trading on Wednesday, hitting $43.67. The company had a trading volume of 11,895,173 shares, compared to its average volume of 15,740,913. The company has a market capitalization of $88.52 billion, a price-to-earnings ratio of -14.16, a P/E/G ratio of 14.82 and a beta of 0.45. Bristol-Myers Squibb has a 1 year low of $43.33 and a 1 year high of $69.10. The company has a current ratio of 1.11, a quick ratio of 0.99 and a debt-to-equity ratio of 2.99. The stock’s 50-day moving average price is $50.11 and its 200-day moving average price is $50.48.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share for the quarter, beating the consensus estimate of ($4.53) by $0.13. Bristol-Myers Squibb had a positive return on equity of 8.83% and a negative net margin of 13.50%. The firm had revenue of $11.87 billion for the quarter, compared to analysts’ expectations of $11.45 billion. During the same quarter last year, the firm posted $2.05 EPS. The company’s revenue was up 4.7% compared to the same quarter last year. On average, sell-side analysts forecast that Bristol-Myers Squibb will post 0.59 earnings per share for the current year.

Bristol-Myers Squibb Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Friday, April 5th were issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 5.50%. The ex-dividend date was Thursday, April 4th. Bristol-Myers Squibb’s dividend payout ratio is currently -77.42%.

Analyst Ratings Changes

A number of analysts recently weighed in on BMY shares. Barclays decreased their price objective on Bristol-Myers Squibb from $51.00 to $43.00 and set an “equal weight” rating for the company in a report on Friday, April 26th. Redburn Atlantic lowered shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $77.00 to $54.00 in a report on Tuesday, February 6th. BMO Capital Markets reduced their price objective on shares of Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating on the stock in a research note on Friday, April 26th. William Blair reiterated a “market perform” rating on shares of Bristol-Myers Squibb in a research report on Monday, April 1st. Finally, Wells Fargo & Company boosted their target price on shares of Bristol-Myers Squibb from $51.00 to $52.00 and gave the company an “equal weight” rating in a report on Thursday, April 18th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Bristol-Myers Squibb currently has an average rating of “Hold” and a consensus target price of $60.00.

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.