Providence Capital Advisors LLC lifted its stake in Bristol-Myers Squibb Co (NYSE:BMY) by 17.0% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 54,400 shares of the biopharmaceutical company’s stock after acquiring an additional 7,900 shares during the period. Providence Capital Advisors LLC’s holdings in Bristol-Myers Squibb were worth $2,467,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. James Investment Research Inc. grew its stake in Bristol-Myers Squibb by 36.5% in the first quarter. James Investment Research Inc. now owns 819 shares of the biopharmaceutical company’s stock valued at $39,000 after acquiring an additional 219 shares during the period. Lowe Brockenbrough & Co. Inc. lifted its position in shares of Bristol-Myers Squibb by 0.5% during the first quarter. Lowe Brockenbrough & Co. Inc. now owns 43,384 shares of the biopharmaceutical company’s stock worth $2,070,000 after purchasing an additional 220 shares in the last quarter. Squar Milner Financial Services LLC grew its holdings in shares of Bristol-Myers Squibb by 5.6% in the first quarter. Squar Milner Financial Services LLC now owns 4,209 shares of the biopharmaceutical company’s stock valued at $200,000 after purchasing an additional 223 shares in the last quarter. EP Wealth Advisors LLC boosted its position in Bristol-Myers Squibb by 5.4% in the 1st quarter. EP Wealth Advisors LLC now owns 4,669 shares of the biopharmaceutical company’s stock valued at $223,000 after buying an additional 240 shares during the period. Finally, Roman Butler Fullerton & Co. grew its stake in shares of Bristol-Myers Squibb by 1.4% in the first quarter. Roman Butler Fullerton & Co. now owns 18,030 shares of the biopharmaceutical company’s stock worth $860,000 after acquiring an additional 244 shares in the last quarter. Institutional investors and hedge funds own 80.27% of the company’s stock.
Several brokerages have weighed in on BMY. Atlantic Securities upgraded Bristol-Myers Squibb from a “neutral” rating to an “overweight” rating and set a $63.00 price target on the stock in a report on Wednesday, August 14th. UBS Group lowered their price objective on Bristol-Myers Squibb from $55.00 to $51.00 and set a “neutral” rating for the company in a research report on Thursday, June 13th. Argus lowered shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating and set a $46.36 target price on the stock. in a research note on Monday, May 20th. Goldman Sachs Group assumed coverage on shares of Bristol-Myers Squibb in a report on Tuesday, May 28th. They issued a “buy” rating and a $54.00 target price on the stock. Finally, ValuEngine upgraded shares of Bristol-Myers Squibb from a “strong sell” rating to a “sell” rating in a research note on Monday, August 26th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $55.74.
BMY stock traded up $0.65 on Wednesday, hitting $49.21. The company’s stock had a trading volume of 510,254 shares, compared to its average volume of 9,441,198. The firm has a 50 day moving average of $46.74 and a two-hundred day moving average of $47.15. Bristol-Myers Squibb Co has a 1 year low of $42.48 and a 1 year high of $63.69. The stock has a market cap of $79.91 billion, a price-to-earnings ratio of 12.36, a price-to-earnings-growth ratio of 2.37 and a beta of 0.70. The company has a current ratio of 3.88, a quick ratio of 3.75 and a debt-to-equity ratio of 1.51.
Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings data on Thursday, July 25th. The biopharmaceutical company reported $1.18 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.06 by $0.12. The company had revenue of $6.27 billion for the quarter, compared to the consensus estimate of $6.10 billion. Bristol-Myers Squibb had a net margin of 26.14% and a return on equity of 47.63%. Bristol-Myers Squibb’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same period last year, the firm posted $1.01 EPS. As a group, equities analysts forecast that Bristol-Myers Squibb Co will post 4.28 EPS for the current fiscal year.
In other Bristol-Myers Squibb news, Director Robert J. Bertolini bought 11,000 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was acquired at an average price of $44.72 per share, for a total transaction of $491,920.00. Following the completion of the purchase, the director now owns 11,397 shares of the company’s stock, valued at $509,673.84. The acquisition was disclosed in a filing with the SEC, which is available through this link. 0.13% of the stock is currently owned by corporate insiders.
About Bristol-Myers Squibb
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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