Bristol-Myers Squibb (NYSE:BMY) Shares Acquired by Advocate Group LLC

Advocate Group LLC boosted its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 2.1% during the 3rd quarter, HoldingsChannel reports. The firm owned 137,241 shares of the biopharmaceutical company’s stock after purchasing an additional 2,873 shares during the period. Advocate Group LLC’s holdings in Bristol-Myers Squibb were worth $7,101,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Wasatch Advisors LP grew its position in Bristol-Myers Squibb by 4.2% during the fourth quarter. Wasatch Advisors LP now owns 87,375 shares of the biopharmaceutical company’s stock worth $4,483,000 after buying an additional 3,500 shares during the period. Concentric Wealth Management LLC increased its stake in Bristol-Myers Squibb by 19.5% in the 4th quarter. Concentric Wealth Management LLC now owns 43,712 shares of the biopharmaceutical company’s stock valued at $2,243,000 after purchasing an additional 7,119 shares in the last quarter. Bayesian Capital Management LP acquired a new position in Bristol-Myers Squibb during the fourth quarter worth $5,377,000. Gotham Asset Management LLC increased its position in shares of Bristol-Myers Squibb by 24.9% in the fourth quarter. Gotham Asset Management LLC now owns 259,150 shares of the biopharmaceutical company’s stock valued at $13,297,000 after buying an additional 51,745 shares in the last quarter. Finally, Grayhawk Investment Strategies Inc. acquired a new position in shares of Bristol-Myers Squibb during the 4th quarter worth $329,000. Institutional investors and hedge funds own 76.41% of the company’s stock.

Bristol-Myers Squibb Trading Up 0.1 %

Shares of BMY stock traded up $0.05 on Thursday, reaching $52.85. 1,058,760 shares of the stock were exchanged, compared to its average volume of 14,937,709. Bristol-Myers Squibb has a 1-year low of $39.35 and a 1-year high of $57.65. The stock has a market cap of $107.13 billion, a P/E ratio of -17.03, a price-to-earnings-growth ratio of 12.96 and a beta of 0.46. 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 firm has a 50 day moving average of $49.60 and a two-hundred day moving average of $46.39.

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

Bristol-Myers Squibb Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 4th will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.40 annualized dividend and a dividend yield of 4.54%. Bristol-Myers Squibb’s payout ratio is -77.42%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. TD Cowen lifted 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 report on Monday. UBS Group upped their target price on Bristol-Myers Squibb from $50.00 to $54.00 and gave the company a “neutral” rating in a research note on Wednesday. Jefferies Financial Group increased their target price on Bristol-Myers Squibb from $49.00 to $51.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. BMO Capital Markets reissued a “market perform” rating and issued a $48.00 price target on shares of Bristol-Myers Squibb in a report on Monday, September 23rd. Finally, StockNews.com raised Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 29th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target 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.