Benjamin F. Edwards & Company Inc. Boosts Position in Bristol-Myers Squibb (NYSE:BMY)

Benjamin F. Edwards & Company Inc. grew its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 6.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 94,911 shares of the biopharmaceutical company’s stock after purchasing an additional 5,382 shares during the quarter. Benjamin F. Edwards & Company Inc.’s holdings in Bristol-Myers Squibb were worth $3,941,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of BMY. Global Assets Advisory LLC purchased a new stake in Bristol-Myers Squibb in the first quarter valued at $5,161,000. Lincoln National Corp boosted its position in shares of Bristol-Myers Squibb by 7.7% in the 1st quarter. Lincoln National Corp now owns 42,894 shares of the biopharmaceutical company’s stock valued at $2,326,000 after purchasing an additional 3,052 shares during the period. Chapin Davis Inc. grew its stake in Bristol-Myers Squibb by 22.6% during the 1st quarter. Chapin Davis Inc. now owns 22,544 shares of the biopharmaceutical company’s stock worth $1,223,000 after buying an additional 4,159 shares during the last quarter. Sierra Summit Advisors LLC purchased a new stake in Bristol-Myers Squibb in the fourth quarter valued at approximately $755,000. Finally, Scotia Capital Inc. boosted its holdings in shares of Bristol-Myers Squibb by 48.6% in the fourth quarter. Scotia Capital Inc. now owns 236,724 shares of the biopharmaceutical company’s stock valued at $12,146,000 after acquiring an additional 77,471 shares during the period. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Jefferies Financial Group upped their price target on shares of Bristol-Myers Squibb from $49.00 to $51.00 and gave the company a “hold” rating in a research report on Wednesday, August 28th. StockNews.com upgraded shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 29th. Cantor Fitzgerald restated a “neutral” rating and issued a $50.00 price target on shares of Bristol-Myers Squibb in a research report on Monday, September 16th. TD Cowen increased their price objective on Bristol-Myers Squibb from $45.00 to $53.00 and gave the stock a “hold” rating in a research report on Monday, August 12th. Finally, Barclays boosted their target price on Bristol-Myers Squibb from $41.00 to $42.00 and gave the company an “underweight” rating in a report on Thursday, August 22nd. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $55.00.

Bristol-Myers Squibb Price Performance

Shares of NYSE:BMY opened at $49.41 on Friday. Bristol-Myers Squibb has a 12 month low of $39.35 and a 12 month high of $59.46. The firm has a market capitalization of $100.16 billion, a price-to-earnings ratio of -15.94, a price-to-earnings-growth ratio of 12.59 and a beta of 0.46. The business’s 50 day simple moving average is $47.68 and its 200-day simple moving average is $46.45. 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 (NYSE:BMY) last announced its quarterly earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share for the quarter, beating analysts’ consensus estimates of $1.64 by $0.43. The business had revenue of $12.20 billion during the quarter, compared to analysts’ expectations of $11.54 billion. Bristol-Myers Squibb had a positive return on equity of 12.51% and a negative net margin of 14.06%. The business’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same quarter last year, the business posted $1.75 earnings per share. As a group, equities analysts forecast that Bristol-Myers Squibb will post 0.77 earnings per share for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 4th will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.86%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is -77.42%.

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.