Chesley Taft & Associates LLC Raises Position in Bristol-Myers Squibb (NYSE:BMY)

Chesley Taft & Associates LLC boosted its stake in Bristol-Myers Squibb (NYSE:BMY) by 5.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,250 shares of the biopharmaceutical company’s stock after buying an additional 252 shares during the period. Chesley Taft & Associates LLC’s holdings in Bristol-Myers Squibb were worth $272,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of BMY. Callan Family Office LLC purchased a new position in shares of Bristol-Myers Squibb during the third quarter valued at approximately $238,000. Exeter Financial LLC purchased a new position in shares of Bristol-Myers Squibb during the third quarter valued at approximately $209,000. Versant Capital Management Inc lifted its holdings in shares of Bristol-Myers Squibb by 0.6% during the third quarter. Versant Capital Management Inc now owns 68,998 shares of the biopharmaceutical company’s stock valued at $3,570,000 after purchasing an additional 386 shares during the last quarter. Greenfield Savings Bank lifted its holdings in shares of Bristol-Myers Squibb by 3.8% during the third quarter. Greenfield Savings Bank now owns 26,877 shares of the biopharmaceutical company’s stock valued at $1,391,000 after purchasing an additional 987 shares during the last quarter. Finally, Cohen Investment Advisors LLC lifted its holdings in shares of Bristol-Myers Squibb by 12.6% during the third quarter. Cohen Investment Advisors LLC now owns 8,581 shares of the biopharmaceutical company’s stock valued at $444,000 after purchasing an additional 962 shares during the last quarter. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Bristol-Myers Squibb Trading Down 1.8 %

Shares of BMY stock opened at $52.48 on Wednesday. Bristol-Myers Squibb has a 1 year low of $39.35 and a 1 year high of $57.65. The firm has a fifty day moving average price of $49.43 and a 200-day moving average price of $46.34. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.16 and a quick ratio of 1.02. The company has a market cap of $106.38 billion, a price-to-earnings ratio of -16.93, a PEG ratio of 12.96 and a beta of 0.46.

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, 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 firm had revenue of $12.20 billion during the quarter, compared to the consensus estimate of $11.54 billion. During the same quarter in the previous year, the firm posted $1.75 EPS. The company’s revenue for the quarter was up 8.7% compared to the same quarter last year. As a group, equities analysts predict that Bristol-Myers Squibb will post 0.77 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

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 given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.57%. The ex-dividend date is Friday, October 4th. Bristol-Myers Squibb’s payout ratio is -77.42%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on BMY shares. StockNews.com upgraded shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Monday, July 29th. TD Cowen boosted their price objective on shares of Bristol-Myers Squibb from $53.00 to $59.00 and gave the stock a “hold” rating in a report on Monday. Barclays boosted their price objective on shares of Bristol-Myers Squibb from $42.00 to $43.00 and gave the stock an “underweight” rating in a report on Monday. Jefferies Financial Group boosted their price objective on shares of Bristol-Myers Squibb from $49.00 to $51.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating for the company in a report on Tuesday, July 23rd. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $53.43.

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.