Altrius Capital Management Inc Acquires 20,100 Shares of Bristol-Myers Squibb (NYSE:BMY)

Altrius Capital Management Inc lifted its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 26.1% in the second quarter, Holdings Channel.com reports. The fund owned 97,042 shares of the biopharmaceutical company’s stock after purchasing an additional 20,100 shares during the quarter. Altrius Capital Management Inc’s holdings in Bristol-Myers Squibb were worth $4,030,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Seven Eight Capital LP acquired a new position in Bristol-Myers Squibb in the second quarter worth about $392,000. E Fund Management Co. Ltd. grew its stake in shares of Bristol-Myers Squibb by 13.2% in the 2nd quarter. E Fund Management Co. Ltd. now owns 7,190 shares of the biopharmaceutical company’s stock valued at $299,000 after purchasing an additional 840 shares during the period. Wealth Alliance raised its holdings in shares of Bristol-Myers Squibb by 13.8% in the 2nd quarter. Wealth Alliance now owns 44,503 shares of the biopharmaceutical company’s stock worth $1,848,000 after buying an additional 5,390 shares in the last quarter. Axxcess Wealth Management LLC lifted its position in shares of Bristol-Myers Squibb by 4.6% during the 2nd quarter. Axxcess Wealth Management LLC now owns 76,958 shares of the biopharmaceutical company’s stock worth $3,196,000 after buying an additional 3,404 shares during the period. Finally, Alpha Family Trust acquired a new stake in Bristol-Myers Squibb in the 2nd quarter valued at $387,000. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Bristol-Myers Squibb Stock Performance

Shares of NYSE:BMY opened at $49.74 on Thursday. The company has a current ratio of 1.16, a quick ratio of 1.02 and a debt-to-equity ratio of 2.86. Bristol-Myers Squibb has a 1-year low of $39.35 and a 1-year high of $59.46. The stock has a market capitalization of $100.83 billion, a P/E ratio of -16.05, a P/E/G ratio of 12.59 and a beta of 0.46. The business has a 50-day moving average price of $47.34 and a two-hundred day moving average price of $46.48.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share for the quarter, topping analysts’ consensus estimates of $1.64 by $0.43. Bristol-Myers Squibb had a negative net margin of 14.06% and a positive return on equity of 12.51%. The business had revenue of $12.20 billion during the quarter, compared to the consensus estimate of $11.54 billion. During the same period in the previous year, the firm posted $1.75 earnings per share. Bristol-Myers Squibb’s revenue for the quarter was up 8.7% compared to the same quarter last year. Equities analysts predict that Bristol-Myers Squibb will post 0.77 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 4th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.83%. The ex-dividend date of this dividend is Friday, October 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently -77.42%.

Wall Street Analyst Weigh In

Several research firms have issued reports on BMY. Jefferies Financial Group increased their price objective on Bristol-Myers Squibb from $49.00 to $51.00 and gave the stock a “hold” rating in a research note on Wednesday, August 28th. Barclays increased their target price on shares of Bristol-Myers Squibb from $41.00 to $42.00 and gave the stock an “underweight” rating in a research report on Thursday, August 22nd. TD Cowen boosted their price target on shares of Bristol-Myers Squibb from $45.00 to $53.00 and gave the company a “hold” rating in a research report on Monday, August 12th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating on the stock in a research note on Tuesday, July 23rd. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $50.00 target price on shares of Bristol-Myers Squibb in a research note on Monday. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $55.00.

Bristol-Myers Squibb Company 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.