3,895 Shares in Bristol-Myers Squibb (NYSE:BMY) Purchased by Focus Financial Network Inc.

Focus Financial Network Inc. bought a new stake in Bristol-Myers Squibb (NYSE:BMY) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 3,895 shares of the biopharmaceutical company’s stock, valued at approximately $202,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of BMY. Patriot Financial Group Insurance Agency LLC increased its holdings in Bristol-Myers Squibb by 3.8% in the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 5,595 shares of the biopharmaceutical company’s stock worth $289,000 after acquiring an additional 206 shares during the last quarter. Xponance Inc. grew its position in shares of Bristol-Myers Squibb by 8.8% in the second quarter. Xponance Inc. now owns 317,381 shares of the biopharmaceutical company’s stock valued at $13,181,000 after purchasing an additional 25,543 shares in the last quarter. Plato Investment Management Ltd raised its stake in shares of Bristol-Myers Squibb by 25.4% during the 2nd quarter. Plato Investment Management Ltd now owns 103,954 shares of the biopharmaceutical company’s stock valued at $4,317,000 after purchasing an additional 21,041 shares during the period. Advisory Services Network LLC boosted its position in shares of Bristol-Myers Squibb by 47.0% in the first quarter. Advisory Services Network LLC now owns 119,423 shares of the biopharmaceutical company’s stock valued at $6,476,000 after acquiring an additional 38,163 shares during the period. Finally, AlTi Global Inc. grew its stake in Bristol-Myers Squibb by 795.6% during the second quarter. AlTi Global Inc. now owns 107,268 shares of the biopharmaceutical company’s stock valued at $4,455,000 after acquiring an additional 95,291 shares in the last quarter. 76.41% of the stock is owned by institutional investors.

Bristol-Myers Squibb Trading Up 2.1 %

Shares of BMY opened at $55.45 on Tuesday. The firm has a fifty day simple moving average of $51.41 and a two-hundred day simple moving average of $46.61. Bristol-Myers Squibb has a twelve month low of $39.35 and a twelve month high of $56.20. The stock has a market capitalization of $112.42 billion, a P/E ratio of -15.45, a PEG ratio of 15.49 and a beta of 0.44. The company has a quick ratio of 1.02, a current ratio of 1.16 and a debt-to-equity ratio of 2.86.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.49 by $0.31. Bristol-Myers Squibb had a positive return on equity of 11.40% and a negative net margin of 15.30%. The company had revenue of $11.89 billion for the quarter, compared to the consensus estimate of $11.26 billion. During the same quarter in the previous year, the business earned $2.00 EPS. Bristol-Myers Squibb’s revenue was up 8.4% compared to the same quarter last year. On average, research analysts anticipate that Bristol-Myers Squibb will post 0.72 EPS for the current year.

Bristol-Myers Squibb Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 4th were given a $0.60 dividend. The ex-dividend date of this dividend was Friday, October 4th. This represents a $2.40 annualized dividend and a dividend yield of 4.33%. Bristol-Myers Squibb’s dividend payout ratio is -66.85%.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. TD Cowen increased their target price on shares of Bristol-Myers Squibb from $53.00 to $59.00 and gave the stock a “hold” rating in a research note on Monday, October 7th. Deutsche Bank Aktiengesellschaft reduced their target price on Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating for the company in a research report on Tuesday, July 23rd. Jefferies Financial Group raised their price target on Bristol-Myers Squibb from $49.00 to $51.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. Barclays boosted their price objective on Bristol-Myers Squibb from $42.00 to $43.00 and gave the stock an “underweight” rating in a report on Monday, October 7th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $50.00 target price on shares of Bristol-Myers Squibb in a research report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Bristol-Myers Squibb presently has an average rating of “Hold” and an average target price of $53.00.

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.