Marcum Wealth LLC Buys 5,090 Shares of Bristol-Myers Squibb (NYSE:BMY)

Marcum Wealth LLC lifted its holdings in Bristol-Myers Squibb (NYSE:BMY) by 61.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,368 shares of the biopharmaceutical company’s stock after acquiring an additional 5,090 shares during the period. Marcum Wealth LLC’s holdings in Bristol-Myers Squibb were worth $725,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in BMY. Fragasso Group Inc. bought a new stake in Bristol-Myers Squibb in the first quarter worth about $239,000. Aprio Wealth Management LLC bought a new stake in Bristol-Myers Squibb in the first quarter worth about $315,000. Inscription Capital LLC lifted its stake in Bristol-Myers Squibb by 66.7% in the first quarter. Inscription Capital LLC now owns 10,269 shares of the biopharmaceutical company’s stock worth $530,000 after purchasing an additional 4,109 shares during the last quarter. Partnership Wealth Management LLC lifted its stake in Bristol-Myers Squibb by 140.7% in the first quarter. Partnership Wealth Management LLC now owns 46,606 shares of the biopharmaceutical company’s stock worth $2,527,000 after purchasing an additional 27,244 shares during the last quarter. Finally, Park Avenue Securities LLC lifted its stake in Bristol-Myers Squibb by 30.8% in the first quarter. Park Avenue Securities LLC now owns 52,511 shares of the biopharmaceutical company’s stock worth $2,848,000 after purchasing an additional 12,363 shares during the last quarter. Institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Stock Performance

Bristol-Myers Squibb stock opened at $41.93 on Friday. 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 business’s 50-day simple moving average is $43.60 and its two-hundred day simple moving average is $48.45. Bristol-Myers Squibb has a fifty-two week low of $39.63 and a fifty-two week high of $65.85.

Bristol-Myers Squibb (NYSE:BMY) last posted 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. The business had revenue of $11.87 billion for the quarter, compared to the consensus estimate of $11.45 billion. Bristol-Myers Squibb had a positive return on equity of 8.83% and a negative net margin of 13.50%. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.05 EPS. As a group, sell-side analysts forecast that Bristol-Myers Squibb will post 0.59 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Friday, July 5th will be paid a $0.60 dividend. The ex-dividend date is Friday, July 5th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 5.72%. Bristol-Myers Squibb’s payout ratio is -77.42%.

Wall Street Analyst Weigh In

BMY has been the subject of several analyst reports. StockNews.com downgraded shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research note on Monday, June 17th. Wells Fargo & Company raised their target price on shares of Bristol-Myers Squibb from $51.00 to $52.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 18th. Barclays reduced their target price 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, April 26th. BMO Capital Markets reduced their target price 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, April 26th. Finally, William Blair reissued a “market perform” rating on shares of Bristol-Myers Squibb in a report on Monday, April 1st. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Bristol-Myers Squibb has a consensus rating of “Hold” and a consensus target price of $60.00.

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.