Wallace Advisory Group LLC Increases Stake in Bristol-Myers Squibb (NYSE:BMY)

Wallace Advisory Group LLC raised its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 8.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,646 shares of the biopharmaceutical company’s stock after purchasing an additional 542 shares during the quarter. Wallace Advisory Group LLC’s holdings in Bristol-Myers Squibb were worth $276,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. ESL Trust Services LLC bought a new position in Bristol-Myers Squibb in the 1st quarter worth approximately $27,000. LGT Financial Advisors LLC boosted its holdings in shares of Bristol-Myers Squibb by 42.7% in the second quarter. LGT Financial Advisors LLC now owns 759 shares of the biopharmaceutical company’s stock worth $32,000 after acquiring an additional 227 shares during the period. MFA Wealth Advisors LLC purchased a new position in shares of Bristol-Myers Squibb in the second quarter valued at $39,000. Fairman Group LLC bought a new stake in shares of Bristol-Myers Squibb during the 4th quarter valued at $42,000. Finally, Beach Investment Counsel Inc. PA purchased a new stake in Bristol-Myers Squibb during the 2nd quarter worth about $42,000. Institutional investors own 76.41% of the company’s stock.

Analyst Ratings Changes

BMY has been the topic of several analyst reports. Barclays upped their price target on Bristol-Myers Squibb from $41.00 to $42.00 and gave the company an “underweight” rating in a research report on Thursday, August 22nd. BMO Capital Markets reiterated a “market perform” rating and issued a $48.00 target price on shares of Bristol-Myers Squibb in a research note on Monday, September 23rd. Jefferies Financial Group boosted their price target on shares of Bristol-Myers Squibb from $49.00 to $51.00 and gave the company a “hold” rating in a research report on Wednesday, August 28th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $50.00 price objective on shares of Bristol-Myers Squibb in a research report on Monday, September 16th. Finally, TD Cowen boosted their target price on Bristol-Myers Squibb from $45.00 to $53.00 and gave the stock a “hold” rating in a research report on Monday, August 12th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Bristol-Myers Squibb has an average rating of “Hold” and a consensus price target of $55.00.

Bristol-Myers Squibb Price Performance

Shares of NYSE:BMY opened at $51.74 on Tuesday. The company’s fifty day moving average is $48.71 and its 200 day moving average is $46.28. 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 $58.06. The stock has a market cap of $104.88 billion, a PE ratio of -16.69, a PEG ratio of 12.96 and a beta of 0.46.

Bristol-Myers Squibb (NYSE:BMY) last released its earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share for the quarter, beating analysts’ consensus estimates of $1.64 by $0.43. Bristol-Myers Squibb had a positive return on equity of 12.51% and a negative net margin of 14.06%. The company had revenue of $12.20 billion during the quarter, compared to analyst estimates of $11.54 billion. During the same quarter in the previous year, the company posted $1.75 EPS. Bristol-Myers Squibb’s revenue for the quarter was up 8.7% on a year-over-year basis. Research analysts anticipate that Bristol-Myers Squibb will post 0.77 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

The company also recently announced 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. This represents a $2.40 annualized dividend and a dividend yield of 4.64%. The ex-dividend date is Friday, October 4th. Bristol-Myers Squibb’s dividend 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.