Boltwood Capital Management Takes Position in Bristol-Myers Squibb (NYSE:BMY)

Boltwood Capital Management acquired a new stake in Bristol-Myers Squibb (NYSE:BMY) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 3,945 shares of the biopharmaceutical company’s stock, valued at approximately $204,000.

Several other large investors also recently made changes to their positions in BMY. ESL Trust Services LLC bought a new position in Bristol-Myers Squibb during the 1st quarter worth $27,000. LGT Financial Advisors LLC increased its position in shares of Bristol-Myers Squibb by 42.7% in the second quarter. LGT Financial Advisors LLC now owns 759 shares of the biopharmaceutical company’s stock worth $32,000 after purchasing an additional 227 shares during the period. MFA Wealth Advisors LLC bought a new position in shares of Bristol-Myers Squibb in the second quarter worth $39,000. Fairman Group LLC bought a new position in Bristol-Myers Squibb in the fourth quarter valued at about $42,000. Finally, Beach Investment Counsel Inc. PA bought a new position in Bristol-Myers Squibb in the second quarter valued at about $42,000. Institutional investors and hedge funds own 76.41% of the company’s stock.

Wall Street Analyst Weigh In

BMY has been the topic of a number of recent analyst reports. Barclays lifted their target price on Bristol-Myers Squibb from $41.00 to $42.00 and gave the company an “underweight” rating in a research report on Thursday, August 22nd. Cantor Fitzgerald reissued a “neutral” rating and set a $50.00 price target on shares of Bristol-Myers Squibb in a research note on Monday, September 16th. Jefferies Financial Group lifted their price objective on Bristol-Myers Squibb from $49.00 to $51.00 and gave the stock a “hold” rating in a research note on Wednesday, August 28th. TD Cowen lifted their price objective on Bristol-Myers Squibb from $45.00 to $53.00 and gave the stock a “hold” rating in a research note on Monday, August 12th. Finally, BMO Capital Markets reaffirmed a “market perform” rating and issued a $48.00 price objective on shares of Bristol-Myers Squibb in a research note on Monday, September 23rd. Two research 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 company currently has a consensus rating of “Hold” and a consensus price target of $55.00.

Bristol-Myers Squibb Stock Up 0.8 %

Shares of NYSE BMY opened at $54.18 on Friday. The business’s fifty day moving average price is $49.27 and its 200-day moving average price is $46.39. The stock has a market capitalization of $109.83 billion, a PE ratio of -17.48, a P/E/G ratio of 12.96 and a beta of 0.46. 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 has a one year low of $39.35 and a one year high of $57.65.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings data on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.64 by $0.43. The business had revenue of $12.20 billion for 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 firm’s quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.75 EPS. On average, equities research analysts anticipate that Bristol-Myers Squibb will post 0.77 EPS for the current year.

Bristol-Myers Squibb Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 4th will be paid a $0.60 dividend. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.40 dividend on an annualized basis and a yield of 4.43%. Bristol-Myers Squibb’s dividend payout ratio is currently -77.42%.

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.