Concord Wealth Partners Sells 315 Shares of Bristol-Myers Squibb (NYSE:BMY)

Concord Wealth Partners lessened its stake in Bristol-Myers Squibb (NYSE:BMY) by 5.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 5,183 shares of the biopharmaceutical company’s stock after selling 315 shares during the period. Concord Wealth Partners’ holdings in Bristol-Myers Squibb were worth $268,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Naviter Wealth LLC increased its position in Bristol-Myers Squibb by 64.3% during the 1st quarter. Naviter Wealth LLC now owns 23,719 shares of the biopharmaceutical company’s stock valued at $1,286,000 after purchasing an additional 9,284 shares during the period. Albion Financial Group UT raised its stake in Bristol-Myers Squibb by 60.0% during the first quarter. Albion Financial Group UT now owns 1,985 shares of the biopharmaceutical company’s stock worth $108,000 after buying an additional 744 shares during the last quarter. Redmont Wealth Advisors LLC bought a new position in Bristol-Myers Squibb during the first quarter worth $47,000. E&G Advisors LP lifted its holdings in Bristol-Myers Squibb by 5.7% in the first quarter. E&G Advisors LP now owns 5,551 shares of the biopharmaceutical company’s stock valued at $302,000 after buying an additional 301 shares during the period. Finally, Lake Street Private Wealth LLC grew its holdings in Bristol-Myers Squibb by 14.4% during the 1st quarter. Lake Street Private Wealth LLC now owns 17,447 shares of the biopharmaceutical company’s stock worth $946,000 after acquiring an additional 2,197 shares during the period. Institutional investors own 76.41% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. UBS Group boosted their price objective on Bristol-Myers Squibb from $50.00 to $54.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. BMO Capital Markets reaffirmed a “market perform” rating and set a $48.00 price objective on shares of Bristol-Myers Squibb in a research report on Monday, September 23rd. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating on the stock in a research report on Tuesday, July 23rd. Jefferies Financial Group raised their price target on shares of Bristol-Myers Squibb from $49.00 to $51.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. Finally, StockNews.com upgraded Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Monday, July 29th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $53.57.

Bristol-Myers Squibb Stock Up 1.4 %

BMY opened at $52.64 on Tuesday. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.16 and a quick ratio of 1.02. The firm has a market capitalization of $106.71 billion, a P/E ratio of -16.98, a PEG ratio of 13.75 and a beta of 0.46. Bristol-Myers Squibb has a fifty-two week low of $39.35 and a fifty-two week high of $55.03. The company’s 50-day moving average is $50.82 and its 200 day moving average is $46.41.

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

Bristol-Myers Squibb Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 4th will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.56%. The ex-dividend date is Friday, October 4th. Bristol-Myers Squibb’s 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.