Exeter Financial LLC Invests $209,000 in Bristol-Myers Squibb (NYSE:BMY)

Exeter Financial LLC acquired a new position in Bristol-Myers Squibb (NYSE:BMY) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 4,046 shares of the biopharmaceutical company’s stock, valued at approximately $209,000.

A number of other institutional investors have also made changes to their positions in BMY. Connectus Wealth LLC grew its position in Bristol-Myers Squibb by 22.8% during the fourth quarter. Connectus Wealth LLC now owns 25,779 shares of the biopharmaceutical company’s stock worth $1,323,000 after buying an additional 4,791 shares in the last quarter. State of Tennessee Treasury Department boosted its holdings in Bristol-Myers Squibb by 4.1% during the fourth quarter. State of Tennessee Treasury Department now owns 819,361 shares of the biopharmaceutical company’s stock valued at $42,041,000 after purchasing an additional 32,430 shares in the last quarter. Cullen Capital Management LLC boosted its holdings in Bristol-Myers Squibb by 7.7% during the fourth quarter. Cullen Capital Management LLC now owns 1,132,051 shares of the biopharmaceutical company’s stock valued at $58,086,000 after purchasing an additional 80,760 shares in the last quarter. Symmetry Investments LP acquired a new stake in Bristol-Myers Squibb during the fourth quarter valued at approximately $1,054,000. Finally, Wasatch Advisors LP boosted its holdings in Bristol-Myers Squibb by 4.2% during the fourth quarter. Wasatch Advisors LP now owns 87,375 shares of the biopharmaceutical company’s stock valued at $4,483,000 after purchasing an additional 3,500 shares in the last quarter. 76.41% of the stock is currently owned by institutional investors.

Bristol-Myers Squibb Price Performance

Shares of NYSE BMY opened at $53.46 on Tuesday. The firm has a market cap of $108.37 billion, a PE ratio of -17.25, a PEG ratio of 12.96 and a beta of 0.46. The company has a current ratio of 1.16, a quick ratio of 1.02 and a debt-to-equity ratio of 2.86. Bristol-Myers Squibb has a 1-year low of $39.35 and a 1-year high of $57.65. The company has a fifty day moving average price of $49.34 and a 200 day moving average price of $46.33.

Bristol-Myers Squibb (NYSE:BMY) last announced its earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share for the quarter, topping analysts’ consensus estimates of $1.64 by $0.43. The firm had revenue of $12.20 billion during the quarter, compared to analyst estimates of $11.54 billion. Bristol-Myers Squibb had a negative net margin of 14.06% and a positive return on equity of 12.51%. The company’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.75 EPS. Research analysts predict that Bristol-Myers Squibb will post 0.77 earnings per share for the current fiscal 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 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 4.49%. Bristol-Myers Squibb’s dividend payout ratio is -77.42%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on BMY. Jefferies Financial Group boosted 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. Deutsche Bank Aktiengesellschaft dropped 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 research report on Tuesday, July 23rd. 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 research report on Monday. StockNews.com upgraded shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 29th. Finally, BMO Capital Markets reiterated a “market perform” rating and set a $48.00 target price on shares of Bristol-Myers Squibb in a research report on Monday, September 23rd. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $53.43.

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.