Axxcess Wealth Management LLC Lowers Position in Bristol-Myers Squibb (NYSE:BMY)

Axxcess Wealth Management LLC decreased its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 3.4% during the third quarter, Holdings Channel reports. The fund owned 74,353 shares of the biopharmaceutical company’s stock after selling 2,605 shares during the period. Axxcess Wealth Management LLC’s holdings in Bristol-Myers Squibb were worth $3,847,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Atomi Financial Group Inc. bought a new stake in Bristol-Myers Squibb during the first quarter worth about $231,000. Concurrent Investment Advisors LLC grew its stake in shares of Bristol-Myers Squibb by 12.7% in the 1st quarter. Concurrent Investment Advisors LLC now owns 26,903 shares of the biopharmaceutical company’s stock worth $1,459,000 after buying an additional 3,040 shares during the last quarter. Sei Investments Co. increased its position in Bristol-Myers Squibb by 26.6% during the 1st quarter. Sei Investments Co. now owns 822,238 shares of the biopharmaceutical company’s stock valued at $44,589,000 after buying an additional 172,775 shares in the last quarter. Meeder Advisory Services Inc. raised its stake in Bristol-Myers Squibb by 5.0% during the first quarter. Meeder Advisory Services Inc. now owns 20,878 shares of the biopharmaceutical company’s stock valued at $1,132,000 after buying an additional 985 shares during the last quarter. Finally, Verus Capital Partners LLC grew its stake in shares of Bristol-Myers Squibb by 12.8% in the first quarter. Verus Capital Partners LLC now owns 7,592 shares of the biopharmaceutical company’s stock worth $412,000 after acquiring an additional 861 shares during the last quarter. Institutional investors own 76.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Barclays upped their price target on shares of Bristol-Myers Squibb from $42.00 to $43.00 and gave the stock an “underweight” rating in a research note on Monday, October 7th. BMO Capital Markets raised their price target on shares of Bristol-Myers Squibb from $53.00 to $57.00 and gave the company a “market perform” rating in a research report on Friday, November 1st. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $50.00 price objective on shares of Bristol-Myers Squibb in a research report on Friday, October 18th. Citigroup downgraded Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and cut their target price for the company from $75.00 to $55.00 in a research note on Friday, October 25th. Finally, UBS Group upped their price target on Bristol-Myers Squibb from $50.00 to $54.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $53.00.

Bristol-Myers Squibb Price Performance

NYSE BMY opened at $54.14 on Monday. The business’s fifty day moving average is $51.87 and its 200 day moving average is $46.80. The company has a debt-to-equity ratio of 2.83, a quick ratio of 1.09 and a current ratio of 1.24. Bristol-Myers Squibb has a fifty-two week low of $39.35 and a fifty-two week high of $56.80. The company has a market capitalization of $109.81 billion, a PE ratio of -15.08, a price-to-earnings-growth ratio of 20.52 and a beta of 0.44.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.31. The business had revenue of $11.89 billion for the quarter, compared to the consensus estimate of $11.26 billion. Bristol-Myers Squibb had a negative net margin of 15.30% and a positive return on equity of 11.94%. The company’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.00 earnings per share. Sell-side analysts predict that Bristol-Myers Squibb will post 0.9 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 4th were issued a dividend of $0.60 per share. The ex-dividend date was Friday, October 4th. This represents a $2.40 dividend on an annualized basis and a yield of 4.43%. Bristol-Myers Squibb’s dividend payout ratio is presently -66.85%.

Insider Activity

In other Bristol-Myers Squibb news, EVP Samit Hirawat bought 1,830 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were bought at an average price of $54.67 per share, with a total value of $100,046.10. Following the purchase, the executive vice president now owns 62,109 shares of the company’s stock, valued at $3,395,499.03. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, EVP Samit Hirawat acquired 1,830 shares of Bristol-Myers Squibb stock in a transaction on Friday, November 1st. The shares were acquired at an average price of $54.67 per share, with a total value of $100,046.10. Following the purchase, the executive vice president now directly owns 62,109 shares in the company, valued at $3,395,499.03. The trade was a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Phil M. Holzer sold 700 shares of the firm’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $55.62, for a total transaction of $38,934.00. Following the completion of the transaction, the senior vice president now directly owns 11,760 shares of the company’s stock, valued at approximately $654,091.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.09% of the company’s stock.

Bristol-Myers Squibb Company Profile

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.