Bristol-Myers Squibb (NYSE:BMY) Shares Bought by Advocate Group LLC

Advocate Group LLC raised its stake in Bristol-Myers Squibb (NYSE:BMY) by 2.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 137,241 shares of the biopharmaceutical company’s stock after buying an additional 2,873 shares during the quarter. Advocate Group LLC’s holdings in Bristol-Myers Squibb were worth $7,101,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. ESL Trust Services LLC purchased a new position in Bristol-Myers Squibb during the first quarter worth about $27,000. LGT Financial Advisors LLC lifted its holdings in Bristol-Myers Squibb by 42.7% in the second 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 last quarter. MFA Wealth Advisors LLC purchased a new position in Bristol-Myers Squibb in the second quarter worth approximately $39,000. Fairman Group LLC purchased a new stake in Bristol-Myers Squibb in the fourth quarter valued at $42,000. Finally, Beach Investment Counsel Inc. PA acquired a new position in shares of Bristol-Myers Squibb in the 2nd quarter valued at $42,000. 76.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on BMY. UBS Group raised their price objective on Bristol-Myers Squibb from $50.00 to $54.00 and gave the stock a “neutral” rating in a research report on Wednesday. TD Cowen upped 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 increased their price objective on shares of Bristol-Myers Squibb from $42.00 to $43.00 and gave the stock an “underweight” rating in a research report on Monday. BMO Capital Markets restated a “market perform” rating and set a $48.00 price target on shares of Bristol-Myers Squibb in a research note on Monday, September 23rd. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $50.00 price objective on shares of Bristol-Myers Squibb in a research note on Monday, September 16th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Bristol-Myers Squibb has an average rating of “Hold” and an average price target of $53.00.

Bristol-Myers Squibb Stock Up 0.1 %

Bristol-Myers Squibb stock traded up $0.05 during trading on Thursday, reaching $52.85. The stock had a trading volume of 1,058,760 shares, compared to its average volume of 14,937,709. 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 52-week low of $39.35 and a 52-week high of $57.65. The stock has a market cap of $107.13 billion, a PE ratio of -17.03, a P/E/G ratio of 12.96 and a beta of 0.46. The business has a 50 day moving average price of $49.60 and a 200 day moving average price of $46.39.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings data on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.64 by $0.43. The business had revenue of $12.20 billion during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period in the previous year, the company earned $1.75 EPS. On average, analysts predict that Bristol-Myers Squibb will post 0.77 EPS 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 issued a $0.60 dividend. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.54%. Bristol-Myers Squibb’s payout ratio is currently -77.42%.

Bristol-Myers Squibb 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.