AdvisorNet Financial Inc Boosts Holdings in Bristol-Myers Squibb (NYSE:BMY)

AdvisorNet Financial Inc grew its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 14.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 33,379 shares of the biopharmaceutical company’s stock after purchasing an additional 4,138 shares during the period. AdvisorNet Financial Inc’s holdings in Bristol-Myers Squibb were worth $1,810,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in BMY. Northwest Financial Advisors acquired a new stake in shares of Bristol-Myers Squibb during the fourth quarter worth approximately $27,000. Pacific Capital Wealth Advisors Inc. acquired a new stake in shares of Bristol-Myers Squibb during the fourth quarter worth approximately $34,000. VisionPoint Advisory Group LLC grew its position in shares of Bristol-Myers Squibb by 300.5% during the third quarter. VisionPoint Advisory Group LLC now owns 737 shares of the biopharmaceutical company’s stock worth $43,000 after buying an additional 553 shares in the last quarter. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Bristol-Myers Squibb during the fourth quarter worth approximately $40,000. Finally, Wetzel Investment Advisors Inc. acquired a new stake in shares of Bristol-Myers Squibb during the fourth quarter worth approximately $40,000. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Price Performance

Shares of Bristol-Myers Squibb stock opened at $42.23 on Tuesday. The company has a current ratio of 1.11, a quick ratio of 0.99 and a debt-to-equity ratio of 2.99. The company’s 50-day moving average price is $43.48 and its two-hundred day moving average price is $48.37. Bristol-Myers Squibb has a 52 week low of $39.63 and a 52 week high of $65.38. The stock has a market cap of $85.59 billion, a PE ratio of -13.62, a price-to-earnings-growth ratio of 13.89 and a beta of 0.43.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) EPS for the quarter, topping the consensus estimate of ($4.53) by $0.13. The firm had revenue of $11.87 billion for the quarter, compared to analysts’ expectations of $11.45 billion. Bristol-Myers Squibb had a negative net margin of 13.50% and a positive return on equity of 8.83%. Bristol-Myers Squibb’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period in the previous year, the business earned $2.05 earnings per share. As a group, sell-side analysts anticipate that Bristol-Myers Squibb will post 0.59 EPS for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Friday, July 5th will be issued a dividend of $0.60 per share. The ex-dividend date is Friday, July 5th. This represents a $2.40 annualized dividend and a yield of 5.68%. Bristol-Myers Squibb’s payout ratio is presently -77.42%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on BMY shares. William Blair reaffirmed a “market perform” rating on shares of Bristol-Myers Squibb in a report on Monday, April 1st. StockNews.com downgraded shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a report on Monday, June 17th. Barclays decreased their price objective on shares of Bristol-Myers Squibb from $51.00 to $43.00 and set an “equal weight” rating for the company in a report on Friday, April 26th. Societe Generale downgraded shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a report on Monday, March 11th. Finally, Wells Fargo & Company boosted their price target on shares of Bristol-Myers Squibb from $51.00 to $52.00 and gave the company an “equal weight” rating in a report on Thursday, April 18th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $60.00.

About Bristol-Myers Squibb

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.