Udine Wealth Management Inc. Makes New $1.86 Million Investment in Bristol-Myers Squibb (NYSE:BMY)

Udine Wealth Management Inc. acquired a new stake in Bristol-Myers Squibb (NYSE:BMY) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 35,885 shares of the biopharmaceutical company’s stock, valued at approximately $1,857,000. Bristol-Myers Squibb accounts for about 1.3% of Udine Wealth Management Inc.’s holdings, making the stock its 22nd biggest position.

Several other hedge funds have also modified their holdings of BMY. Sage Capital Advisors llc boosted its stake in Bristol-Myers Squibb by 1.9% during the 3rd quarter. Sage Capital Advisors llc now owns 56,472 shares of the biopharmaceutical company’s stock valued at $2,922,000 after purchasing an additional 1,065 shares during the period. Talbot Financial LLC lifted its position in shares of Bristol-Myers Squibb by 6.7% in the 3rd quarter. Talbot Financial LLC now owns 94,183 shares of the biopharmaceutical company’s stock worth $4,873,000 after acquiring an additional 5,950 shares during the period. Brookstone Capital Management lifted its position in shares of Bristol-Myers Squibb by 11.1% in the 3rd quarter. Brookstone Capital Management now owns 167,639 shares of the biopharmaceutical company’s stock worth $8,674,000 after acquiring an additional 16,744 shares during the period. O Keefe Stevens Advisory Inc. acquired a new position in shares of Bristol-Myers Squibb in the 3rd quarter worth approximately $236,000. Finally, FCF Advisors LLC raised its holdings in shares of Bristol-Myers Squibb by 8.4% in the 3rd quarter. FCF Advisors LLC now owns 122,341 shares of the biopharmaceutical company’s stock worth $6,330,000 after buying an additional 9,496 shares in the last quarter. 76.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BMY has been the subject of a number of recent analyst reports. TD Cowen raised their price target on Bristol-Myers Squibb from $53.00 to $59.00 and gave the company a “hold” rating in a report on Monday. BMO Capital Markets reiterated a “market perform” rating and set a $48.00 target price on shares of Bristol-Myers Squibb in a report on Monday, September 23rd. StockNews.com raised Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 29th. Deutsche Bank Aktiengesellschaft lowered their target price on Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating on the stock in a research report on Tuesday, July 23rd. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $50.00 price target on shares of Bristol-Myers Squibb in a research report on Monday, September 16th. Two research 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $53.43.

Bristol-Myers Squibb Trading Down 1.8 %

Shares of BMY opened at $52.48 on Wednesday. The company has a quick ratio of 1.02, a current ratio of 1.16 and a debt-to-equity ratio of 2.86. Bristol-Myers Squibb has a twelve month low of $39.35 and a twelve month high of $57.65. The stock has a market capitalization of $106.38 billion, a P/E ratio of -16.93, a PEG ratio of 12.96 and a beta of 0.46. The firm has a fifty day simple moving average of $49.43 and a two-hundred day simple moving average of $46.34.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly 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 the consensus estimate 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 business’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter last year, the firm posted $1.75 EPS. On average, research analysts anticipate that Bristol-Myers Squibb will post 0.77 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 4th will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 4.57%. The ex-dividend date is Friday, October 4th. Bristol-Myers Squibb’s payout ratio is -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.