Lake Street Private Wealth LLC Increases Stock Position in Bristol-Myers Squibb (NYSE:BMY)

Lake Street Private Wealth LLC increased its position in Bristol-Myers Squibb (NYSE:BMY) by 14.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 17,447 shares of the biopharmaceutical company’s stock after buying an additional 2,197 shares during the quarter. Lake Street Private Wealth LLC’s holdings in Bristol-Myers Squibb were worth $946,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BMY. Norges Bank acquired a new stake in Bristol-Myers Squibb during the 4th quarter worth approximately $1,560,524,000. Van ECK Associates Corp boosted its position in Bristol-Myers Squibb by 792.6% during the 4th quarter. Van ECK Associates Corp now owns 4,030,939 shares of the biopharmaceutical company’s stock worth $206,828,000 after purchasing an additional 3,579,324 shares during the period. Primecap Management Co. CA increased its holdings in Bristol-Myers Squibb by 14.6% in the 4th quarter. Primecap Management Co. CA now owns 23,534,378 shares of the biopharmaceutical company’s stock valued at $1,207,549,000 after purchasing an additional 2,998,228 shares in the last quarter. Pacer Advisors Inc. raised its position in Bristol-Myers Squibb by 48.0% in the fourth quarter. Pacer Advisors Inc. now owns 7,830,948 shares of the biopharmaceutical company’s stock valued at $401,806,000 after purchasing an additional 2,540,360 shares during the period. Finally, Franklin Resources Inc. lifted its stake in shares of Bristol-Myers Squibb by 36.7% during the fourth quarter. Franklin Resources Inc. now owns 9,357,199 shares of the biopharmaceutical company’s stock worth $480,118,000 after purchasing an additional 2,510,134 shares in the last quarter. Institutional investors and hedge funds own 76.41% of the company’s stock.

Bristol-Myers Squibb Price Performance

NYSE:BMY opened at $40.06 on Thursday. The company has a quick ratio of 0.99, a current ratio of 1.11 and a debt-to-equity ratio of 2.99. The business’s 50-day moving average price is $42.64 and its 200 day moving average price is $47.97. Bristol-Myers Squibb has a 52-week low of $39.63 and a 52-week high of $65.38.

Bristol-Myers Squibb (NYSE:BMY) last released its earnings results 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 8.83%. The business’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the business earned $2.05 earnings per share. As a group, sell-side analysts predict that Bristol-Myers Squibb will post 0.58 EPS for the current fiscal 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 given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 5.99%. The ex-dividend date is Friday, July 5th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -77.42%.

Analyst Ratings Changes

Several equities analysts recently commented on the company. StockNews.com lowered Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 27th. William Blair reaffirmed a “market perform” rating on shares of Bristol-Myers Squibb in a report on Monday, April 1st. Wells Fargo & Company upped their price objective on shares of Bristol-Myers Squibb from $51.00 to $52.00 and gave the company an “equal weight” rating in a research report on Thursday, April 18th. Societe Generale lowered Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research report on Monday, March 11th. Finally, Barclays reduced their price target 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. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average 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.