CoreCap Advisors LLC Buys 1,944 Shares of Bristol-Myers Squibb (NYSE:BMY)

CoreCap Advisors LLC raised its stake in Bristol-Myers Squibb (NYSE:BMYFree Report) by 34.3% during the 4th quarter, Holdings Channel reports. The fund owned 7,609 shares of the biopharmaceutical company’s stock after acquiring an additional 1,944 shares during the period. CoreCap Advisors LLC’s holdings in Bristol-Myers Squibb were worth $390,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently bought and sold shares of the stock. Brown Shipley& Co Ltd raised its holdings in Bristol-Myers Squibb by 1.8% in the 2nd quarter. Brown Shipley& Co Ltd now owns 9,161 shares of the biopharmaceutical company’s stock valued at $38,000 after acquiring an additional 164 shares during the period. Riversedge Advisors LLC raised its holdings in Bristol-Myers Squibb by 3.2% in the 3rd quarter. Riversedge Advisors LLC now owns 5,691 shares of the biopharmaceutical company’s stock valued at $330,000 after acquiring an additional 178 shares during the period. Vicus Capital increased its holdings in shares of Bristol-Myers Squibb by 3.9% during the third quarter. Vicus Capital now owns 4,824 shares of the biopharmaceutical company’s stock worth $280,000 after purchasing an additional 179 shares during the period. Cassia Capital Partners LLC increased its holdings in shares of Bristol-Myers Squibb by 2.3% during the third quarter. Cassia Capital Partners LLC now owns 7,931 shares of the biopharmaceutical company’s stock worth $460,000 after purchasing an additional 182 shares during the period. Finally, Lindbrook Capital LLC increased its holdings in shares of Bristol-Myers Squibb by 2.3% during the third quarter. Lindbrook Capital LLC now owns 8,060 shares of the biopharmaceutical company’s stock worth $468,000 after purchasing an additional 182 shares during the period. 76.41% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

BMY has been the topic of several recent research reports. Wells Fargo & Company lowered their target price on shares of Bristol-Myers Squibb from $58.00 to $51.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 6th. StockNews.com raised shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Friday, March 1st. Bank of America cut shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $68.00 to $60.00 in a report on Wednesday, January 3rd. Redburn Atlantic cut shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $77.00 to $54.00 in a report on Tuesday, February 6th. Finally, Societe Generale cut shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a report on Monday, March 11th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $61.12.

Read Our Latest Stock Analysis on Bristol-Myers Squibb

Bristol-Myers Squibb Stock Performance

Shares of Bristol-Myers Squibb stock opened at $52.55 on Wednesday. Bristol-Myers Squibb has a fifty-two week low of $47.58 and a fifty-two week high of $71.07. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.43 and a quick ratio of 1.31. The firm has a market capitalization of $106.51 billion, a P/E ratio of 13.61, a P/E/G ratio of 1.57 and a beta of 0.38. The company’s 50 day moving average price is $50.68 and its two-hundred day moving average price is $52.49.

Bristol-Myers Squibb (NYSE:BMYGet Free Report) last issued its earnings results on Friday, February 2nd. The biopharmaceutical company reported $1.70 earnings per share for the quarter, beating analysts’ consensus estimates of $1.55 by $0.15. Bristol-Myers Squibb had a net margin of 17.83% and a return on equity of 50.95%. The firm had revenue of $11.48 billion for the quarter, compared to analyst estimates of $11.19 billion. During the same quarter last year, the business posted $1.82 earnings per share. The company’s quarterly revenue was up .6% on a year-over-year basis. On average, equities analysts forecast that Bristol-Myers Squibb will post 6.61 earnings per share for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Friday, April 5th will be issued a dividend of $0.60 per share. The ex-dividend date is Thursday, April 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.57%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently 62.18%.

Bristol-Myers Squibb declared that its Board of Directors has approved a share repurchase program on Thursday, December 7th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the biopharmaceutical company to reacquire up to 2.9% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Bristol-Myers Squibb Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Bristol-Myers Squibb (NYSE:BMY)

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