Biechele Royce Advisors increased its holdings in Bristol-Myers Squibb Co (NYSE:BMY) by 5.1% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 60,967 shares of the biopharmaceutical company’s stock after purchasing an additional 2,952 shares during the quarter. Bristol-Myers Squibb accounts for about 2.0% of Biechele Royce Advisors’ holdings, making the stock its 22nd biggest holding. Biechele Royce Advisors’ holdings in Bristol-Myers Squibb were worth $3,092,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Garrett Wealth Advisory Group LLC acquired a new position in shares of Bristol-Myers Squibb during the third quarter worth $26,000. Lenox Wealth Advisors LLC increased its position in shares of Bristol-Myers Squibb by 555.7% during the third quarter. Lenox Wealth Advisors LLC now owns 636 shares of the biopharmaceutical company’s stock worth $32,000 after purchasing an additional 539 shares in the last quarter. Financial Gravity Wealth Inc. increased its position in shares of Bristol-Myers Squibb by 101.2% during the third quarter. Financial Gravity Wealth Inc. now owns 650 shares of the biopharmaceutical company’s stock worth $33,000 after purchasing an additional 327 shares in the last quarter. Endurance Wealth Management Inc. increased its position in shares of Bristol-Myers Squibb by 119.6% during the second quarter. Endurance Wealth Management Inc. now owns 918 shares of the biopharmaceutical company’s stock worth $42,000 after purchasing an additional 500 shares in the last quarter. Finally, HMS Capital Management LLC acquired a new position in shares of Bristol-Myers Squibb during the second quarter worth $45,000. 80.25% of the stock is currently owned by institutional investors and hedge funds.
In other Bristol-Myers Squibb news, Director Robert J. Bertolini purchased 11,000 shares of the stock in a transaction on Wednesday, July 31st. The shares were bought at an average cost of $44.72 per share, with a total value of $491,920.00. Following the completion of the acquisition, the director now owns 11,397 shares in the company, valued at $509,673.84. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.13% of the stock is owned by corporate insiders.
NYSE BMY opened at $53.03 on Friday. The company has a debt-to-equity ratio of 1.51, a current ratio of 3.88 and a quick ratio of 3.75. The stock’s fifty day moving average price is $49.95 and its 200 day moving average price is $47.19. Bristol-Myers Squibb Co has a 1 year low of $42.48 and a 1 year high of $55.85. The company has a market cap of $85.75 billion, a price-to-earnings ratio of 13.32, a PEG ratio of 1.23 and a beta of 0.72.
Bristol-Myers Squibb (NYSE:BMY) last released its earnings results on Thursday, July 25th. The biopharmaceutical company reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.12. Bristol-Myers Squibb had a return on equity of 47.63% and a net margin of 26.14%. The firm had revenue of $6.27 billion for the quarter, compared to the consensus estimate of $6.10 billion. During the same period in the prior year, the firm earned $1.01 EPS. The firm’s revenue was up 10.0% on a year-over-year basis. Research analysts expect that Bristol-Myers Squibb Co will post 4.28 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 4th will be given a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 3.09%. The ex-dividend date of this dividend is Thursday, October 3rd. Bristol-Myers Squibb’s payout ratio is 41.21%.
A number of equities analysts have recently issued reports on the company. Atlantic Securities raised Bristol-Myers Squibb from a “neutral” rating to an “overweight” rating and set a $63.00 price target on the stock in a research report on Wednesday, August 14th. JPMorgan Chase & Co. set a $62.00 price target on Bristol-Myers Squibb and gave the stock a “buy” rating in a research report on Friday, September 13th. TheStreet raised Bristol-Myers Squibb from a “c+” rating to a “b-” rating in a research report on Wednesday, September 18th. Bank of America began coverage on Bristol-Myers Squibb in a research report on Wednesday. They set a “buy” rating and a $60.00 price target on the stock. Finally, ValuEngine downgraded Bristol-Myers Squibb from a “hold” rating to a “sell” rating in a research report on Saturday. One research analyst has rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $56.53.
Bristol-Myers Squibb Profile
Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. The company offers drugs in oncology, immunoscience, cardiovascular, and fibrotic diseases. The company's products include Opdivo, a biological product for anti-cancer indications; Eliquis, an oral inhibitor targeted at stroke prevention in adult patients with non-valvular atrial fibrillation, and the prevention and treatment of venous thromboembolic disorders; and Orencia, a biological product for adult patients with moderately to severely active RA and prostate-specific antigen, as well as reducing signs and symptoms in certain pediatric patients with moderately to severely active polyarticular juvenile idiopathic arthritis.
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