Seneca House Advisors Takes $221,000 Position in Bristol-Myers Squibb (NYSE:BMY)

Seneca House Advisors purchased 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 fund purchased 4,266 shares of the biopharmaceutical company’s stock, valued at approximately $221,000.

Other institutional investors have also recently added to or reduced their stakes in the company. ESL Trust Services LLC acquired a new stake in Bristol-Myers Squibb in the 1st quarter worth approximately $27,000. LGT Financial Advisors LLC boosted its stake in Bristol-Myers Squibb by 42.7% during the 2nd quarter. LGT Financial Advisors LLC now owns 759 shares of the biopharmaceutical company’s stock valued at $32,000 after purchasing an additional 227 shares during the period. MFA Wealth Advisors LLC acquired a new position in shares of Bristol-Myers Squibb during the second quarter worth approximately $39,000. Fairman Group LLC bought a new stake in Bristol-Myers Squibb in the 4th quarter valued at $42,000. Finally, Beach Investment Counsel Inc. PA acquired a new position in shares of Bristol-Myers Squibb during the second quarter valued at about $42,000. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently commented on BMY. Deutsche Bank Aktiengesellschaft cut their target price on Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating for the company in a research note on Tuesday, July 23rd. BMO Capital Markets reissued a “market perform” rating and issued a $48.00 price target on shares of Bristol-Myers Squibb in a research report on Monday, September 23rd. TD Cowen upped their price objective on Bristol-Myers Squibb from $45.00 to $53.00 and gave the company a “hold” rating in a research note on Monday, August 12th. Jefferies Financial Group upped their price target on Bristol-Myers Squibb from $49.00 to $51.00 and gave the company a “hold” rating in a research report on Wednesday, August 28th. Finally, StockNews.com raised shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Monday, July 29th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Bristol-Myers Squibb presently has a consensus rating of “Hold” and a consensus target price of $55.00.

Bristol-Myers Squibb Stock Up 0.7 %

Shares of NYSE:BMY traded up $0.36 during trading on Friday, hitting $53.96. 12,831,885 shares of the company’s stock traded hands, compared to its average volume of 15,080,382. The company has a 50-day moving average price of $49.34 and a 200-day moving average price of $46.40. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $57.65. The company has a current ratio of 1.16, a quick ratio of 1.02 and a debt-to-equity ratio of 2.86. 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 posted its quarterly earnings data 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. Bristol-Myers Squibb had a negative net margin of 14.06% and a positive return on equity of 12.51%. The company had revenue of $12.20 billion for the quarter, compared to the consensus estimate of $11.54 billion. During the same period last year, the company earned $1.75 earnings per share. The firm’s revenue was up 8.7% compared to the same quarter last year. As a group, research analysts forecast that Bristol-Myers Squibb will post 0.77 EPS for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 4th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 4.45%. The ex-dividend date of this dividend is Friday, October 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) 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.