Duncan Williams Asset Management LLC Purchases Shares of 4,049 Bristol-Myers Squibb (NYSE:BMY)

Duncan Williams Asset Management LLC purchased a new position in shares of Bristol-Myers Squibb (NYSE:BMY) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 4,049 shares of the biopharmaceutical company’s stock, valued at approximately $210,000.

Several other hedge funds have also recently modified their holdings of the stock. ESL Trust Services LLC acquired a new position in Bristol-Myers Squibb during the 1st quarter valued at approximately $27,000. LGT Financial Advisors LLC increased its position in shares of Bristol-Myers Squibb by 42.7% in the 2nd quarter. LGT Financial Advisors LLC now owns 759 shares of the biopharmaceutical company’s stock valued at $32,000 after acquiring an additional 227 shares during the period. MFA Wealth Advisors LLC purchased a new position in Bristol-Myers Squibb in the 2nd quarter worth $39,000. Fairman Group LLC acquired a new stake in Bristol-Myers Squibb during the 4th quarter worth about $42,000. Finally, Beach Investment Counsel Inc. PA purchased a new stake in Bristol-Myers Squibb during the 2nd quarter valued at about $42,000. Institutional investors and hedge funds own 76.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on BMY. Jefferies Financial Group lifted their target price on Bristol-Myers Squibb from $49.00 to $51.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. Cantor Fitzgerald restated a “neutral” rating and set a $50.00 price objective on shares of Bristol-Myers Squibb in a research note on Monday, September 16th. StockNews.com raised shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Monday, July 29th. TD Cowen raised their target price on shares of Bristol-Myers Squibb from $45.00 to $53.00 and gave the stock a “hold” rating in a report on Monday, August 12th. Finally, BMO Capital Markets reaffirmed a “market perform” rating and issued a $48.00 price target on shares of Bristol-Myers Squibb in a report on Monday, September 23rd. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $55.00.

Bristol-Myers Squibb Price Performance

BMY stock traded up $0.36 during mid-day trading on Friday, reaching $53.96. 12,831,885 shares of the company’s stock were exchanged, compared to its average volume of 15,080,382. 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 12-month low of $39.35 and a 12-month high of $57.65. The stock’s 50 day moving average is $49.34 and its 200 day moving average is $46.40. The company has a market cap of $109.38 billion, a price-to-earnings ratio of -17.40, a price-to-earnings-growth ratio of 12.96 and a beta of 0.46.

Bristol-Myers Squibb (NYSE:BMY) last announced its earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.64 by $0.43. The firm had revenue of $12.20 billion for the quarter, compared to analyst estimates 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 was up 8.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.75 EPS. On average, research analysts expect that Bristol-Myers Squibb will post 0.77 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

The business also recently announced 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 is Friday, October 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.45%. Bristol-Myers Squibb’s dividend payout ratio is currently -77.42%.

Bristol-Myers Squibb Company 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.