Measured Wealth Private Client Group LLC lifted its position in Bristol-Myers Squibb Co (NYSE:BMY) by 447.1% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 26,019 shares of the biopharmaceutical company’s stock after purchasing an additional 21,263 shares during the period. Bristol-Myers Squibb accounts for approximately 0.9% of Measured Wealth Private Client Group LLC’s investment portfolio, making the stock its 24th largest holding. Measured Wealth Private Client Group LLC’s holdings in Bristol-Myers Squibb were worth $1,319,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also recently added to or reduced their stakes in the company. Private Ocean LLC purchased a new position in Bristol-Myers Squibb during the first quarter valued at $28,000. Lenox Wealth Advisors LLC raised its holdings in Bristol-Myers Squibb by 555.7% during the third quarter. Lenox Wealth Advisors LLC now owns 636 shares of the biopharmaceutical company’s stock valued at $32,000 after acquiring an additional 539 shares during the period. Endurance Wealth Management Inc. raised its holdings in Bristol-Myers Squibb by 119.6% during the second quarter. Endurance Wealth Management Inc. now owns 918 shares of the biopharmaceutical company’s stock valued at $42,000 after acquiring an additional 500 shares during the period. HMS Capital Management LLC bought a new stake in Bristol-Myers Squibb during the second quarter valued at about $45,000. Finally, Evolution Wealth Advisors LLC bought a new stake in Bristol-Myers Squibb during the second quarter valued at about $50,000. Hedge funds and other institutional investors own 80.17% of the company’s stock.
In other news, Director Robert J. Bertolini bought 11,000 shares of Bristol-Myers Squibb stock in a transaction dated Wednesday, July 31st. The shares were purchased at an average cost of $44.72 per share, with a total value of $491,920.00. Following the completion of the acquisition, the director now owns 11,397 shares of the company’s stock, valued at approximately $509,673.84. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.13% of the company’s stock.
Shares of BMY stock traded up $1.05 during trading hours on Friday, hitting $51.83. The stock had a trading volume of 412,078 shares, compared to its average volume of 9,791,409. Bristol-Myers Squibb Co has a one year low of $42.48 and a one year high of $60.77. The company has a debt-to-equity ratio of 1.51, a current ratio of 3.88 and a quick ratio of 3.75. The stock’s 50-day moving average price is $49.24 and its two-hundred day moving average price is $47.03. The stock has a market capitalization of $82.38 billion, a price-to-earnings ratio of 12.98, a PEG ratio of 2.48 and a beta of 0.72.
Bristol-Myers Squibb (NYSE:BMY) last issued its earnings results on Thursday, July 25th. The biopharmaceutical company reported $1.18 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.06 by $0.12. Bristol-Myers Squibb had a return on equity of 47.63% and a net margin of 26.14%. The firm had revenue of $6.27 billion for the quarter, compared to analysts’ expectations of $6.10 billion. During the same period in the previous year, the firm posted $1.01 earnings per share. The business’s revenue was up 10.0% compared to the same quarter last year. As a group, equities research analysts predict that Bristol-Myers Squibb Co will post 4.29 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 4th will be issued a $0.41 dividend. The ex-dividend date of this dividend is Thursday, October 3rd. This represents a $1.64 annualized dividend and a dividend yield of 3.16%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is 41.21%.
A number of research firms have commented on BMY. JPMorgan Chase & Co. set a $62.00 price target on Bristol-Myers Squibb and gave the company a “buy” rating in a report on Friday, September 13th. Atlantic Securities raised Bristol-Myers Squibb from a “neutral” rating to an “overweight” rating and set a $63.00 price target on the stock in a report on Wednesday, August 14th. UBS Group decreased their price target on Bristol-Myers Squibb from $55.00 to $51.00 and set a “neutral” rating on the stock in a report on Thursday, June 13th. Bank of America raised their price target on Bristol-Myers Squibb from $49.00 to $50.00 and gave the company a “neutral” rating in a report on Thursday. Finally, TheStreet raised Bristol-Myers Squibb from a “c+” rating to a “b-” rating in a report on Wednesday, September 18th. Eight investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $55.81.
Bristol-Myers Squibb Company Profile
Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. The company offers drugs in oncology, immunoscience, cardiovascular, and fibrotic diseases. The company's products include Opdivo, a biological product for anti-cancer indications; Eliquis, an oral inhibitor targeted at stroke prevention in adult patients with non-valvular atrial fibrillation, and the prevention and treatment of venous thromboembolic disorders; and Orencia, a biological product for adult patients with moderately to severely active RA and prostate-specific antigen, as well as reducing signs and symptoms in certain pediatric patients with moderately to severely active polyarticular juvenile idiopathic arthritis.
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