NewEdge Advisors LLC Buys 148,973 Shares of Bristol-Myers Squibb (NYSE:BMY)

NewEdge Advisors LLC raised its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 118.5% during the 2nd quarter, Holdings Channel reports. The fund owned 274,740 shares of the biopharmaceutical company’s stock after purchasing an additional 148,973 shares during the period. NewEdge Advisors LLC’s holdings in Bristol-Myers Squibb were worth $11,410,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Global Assets Advisory LLC bought a new stake in Bristol-Myers Squibb during the 1st quarter valued at $5,161,000. Lincoln National Corp raised its stake in Bristol-Myers Squibb by 7.7% in the first quarter. Lincoln National Corp now owns 42,894 shares of the biopharmaceutical company’s stock valued at $2,326,000 after buying an additional 3,052 shares during the last quarter. Chapin Davis Inc. boosted its holdings in Bristol-Myers Squibb by 22.6% in the first quarter. Chapin Davis Inc. now owns 22,544 shares of the biopharmaceutical company’s stock worth $1,223,000 after acquiring an additional 4,159 shares in the last quarter. Sierra Summit Advisors LLC purchased a new stake in shares of Bristol-Myers Squibb during the fourth quarter worth about $755,000. Finally, Accel Wealth Management increased its holdings in shares of Bristol-Myers Squibb by 19.0% during the first quarter. Accel Wealth Management now owns 4,934 shares of the biopharmaceutical company’s stock valued at $268,000 after acquiring an additional 788 shares in the last quarter. Institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Stock Up 1.6 %

BMY opened at $51.74 on Tuesday. Bristol-Myers Squibb has a twelve month low of $39.35 and a twelve month high of $58.06. The company has a quick ratio of 1.02, a current ratio of 1.16 and a debt-to-equity ratio of 2.86. The company has a 50-day moving average price of $48.71 and a 200 day moving average price of $46.28. The company has a market cap of $104.88 billion, a PE ratio of -16.69, a price-to-earnings-growth ratio of 12.96 and a beta of 0.46.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $12.20 billion during the quarter, compared to the consensus estimate of $11.54 billion. During the same quarter in the prior year, the firm earned $1.75 EPS. The company’s revenue for the quarter was up 8.7% on a year-over-year basis. Sell-side analysts expect that Bristol-Myers Squibb will post 0.77 earnings per share for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The company 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. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.40 annualized dividend and a dividend yield of 4.64%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is -77.42%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. TD Cowen raised their price target on shares of Bristol-Myers Squibb from $45.00 to $53.00 and gave the stock a “hold” rating in a report on Monday, August 12th. StockNews.com raised shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Monday, July 29th. BMO Capital Markets reissued a “market perform” rating and set a $48.00 price objective on shares of Bristol-Myers Squibb in a report on Monday, September 23rd. Deutsche Bank Aktiengesellschaft dropped 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 report on Tuesday, July 23rd. Finally, Jefferies Financial Group boosted their price objective on shares of Bristol-Myers Squibb from $49.00 to $51.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $55.00.

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.