Modera Wealth Management LLC Buys 1,359 Shares of Bristol-Myers Squibb (NYSE:BMY)

Modera Wealth Management LLC raised its stake in Bristol-Myers Squibb (NYSE:BMY) by 4.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 30,557 shares of the biopharmaceutical company’s stock after buying an additional 1,359 shares during the period. Modera Wealth Management LLC’s holdings in Bristol-Myers Squibb were worth $1,581,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in BMY. Legacy Wealth Asset Management LLC increased its position in Bristol-Myers Squibb by 2.1% in the third quarter. Legacy Wealth Asset Management LLC now owns 10,288 shares of the biopharmaceutical company’s stock worth $532,000 after purchasing an additional 215 shares during the last quarter. Paragon Capital Management LLC increased its position in Bristol-Myers Squibb by 1.1% in the first quarter. Paragon Capital Management LLC now owns 20,500 shares of the biopharmaceutical company’s stock worth $1,112,000 after purchasing an additional 222 shares during the last quarter. OmniStar Financial Group Inc. increased its position in Bristol-Myers Squibb by 1.7% in the second quarter. OmniStar Financial Group Inc. now owns 13,316 shares of the biopharmaceutical company’s stock worth $553,000 after purchasing an additional 224 shares during the last quarter. LGT Financial Advisors LLC increased its position in Bristol-Myers Squibb by 42.7% in the second quarter. LGT Financial Advisors LLC now owns 759 shares of the biopharmaceutical company’s stock worth $32,000 after purchasing an additional 227 shares during the last quarter. Finally, Cassia Capital Partners LLC increased its position in Bristol-Myers Squibb by 2.9% in the third quarter. Cassia Capital Partners LLC now owns 8,222 shares of the biopharmaceutical company’s stock worth $425,000 after purchasing an additional 235 shares during the last quarter. Institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Stock Down 1.9 %

Shares of Bristol-Myers Squibb stock opened at $51.92 on Monday. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.16 and a quick ratio of 1.02. Bristol-Myers Squibb has a 1 year low of $39.35 and a 1 year high of $55.29. The firm’s 50-day moving average is $50.75 and its two-hundred day moving average is $46.38. The stock has a market cap of $105.25 billion, a price-to-earnings ratio of -16.75, a PEG ratio of 13.75 and a beta of 0.46.

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

Bristol-Myers Squibb Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 4th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 4.62%. The ex-dividend date is Friday, October 4th. Bristol-Myers Squibb’s payout ratio is -77.42%.

Analyst Upgrades and Downgrades

BMY has been the topic of several recent analyst reports. TD Cowen increased their target price on shares of Bristol-Myers Squibb from $53.00 to $59.00 and gave the company a “hold” rating in a research note on Monday, October 7th. Jefferies Financial Group increased their target price on shares of Bristol-Myers Squibb from $49.00 to $51.00 and gave the company a “hold” rating in a research note on Wednesday, August 28th. Sanford C. Bernstein initiated coverage on shares of Bristol-Myers Squibb in a research note on Thursday, October 17th. They issued a “market perform” rating and a $56.00 target price on the stock. Barclays increased their target price on shares of Bristol-Myers Squibb from $42.00 to $43.00 and gave the company an “underweight” rating in a research note on Monday, October 7th. Finally, Cantor Fitzgerald reissued a “neutral” rating and issued a $50.00 target price on shares of Bristol-Myers Squibb in a research note on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $53.57.

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.