Eads & Heald Wealth Management Grows Position in Bristol-Myers Squibb (NYSE:BMY)

Eads & Heald Wealth Management boosted its holdings in Bristol-Myers Squibb (NYSE:BMY) by 9.7% in the third quarter, Holdings Channel.com reports. The institutional investor owned 18,818 shares of the biopharmaceutical company’s stock after acquiring an additional 1,670 shares during the period. Eads & Heald Wealth Management’s holdings in Bristol-Myers Squibb were worth $974,000 as of its most recent filing with the SEC.

Other institutional investors have also recently made changes to their positions in the company. Reston Wealth Management LLC bought a new stake in Bristol-Myers Squibb in the 3rd quarter worth approximately $25,000. ESL Trust Services LLC bought a new stake in shares of Bristol-Myers Squibb in the first quarter worth $27,000. Valued Wealth Advisors LLC increased its position in Bristol-Myers Squibb by 1,168.1% during the third quarter. Valued Wealth Advisors LLC now owns 596 shares of the biopharmaceutical company’s stock valued at $31,000 after acquiring an additional 549 shares during the last quarter. LGT Financial Advisors LLC boosted its position in 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 purchasing an additional 227 shares during the last quarter. Finally, ORG Wealth Partners LLC bought a new stake in shares of Bristol-Myers Squibb during the 3rd quarter valued at about $34,000. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Wall Street Analyst Weigh In

BMY has been the subject of a number of recent research reports. Citigroup downgraded shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and cut their price objective for the company from $75.00 to $55.00 in a research report on Friday, October 25th. StockNews.com upgraded Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 29th. UBS Group lifted their price objective on Bristol-Myers Squibb from $50.00 to $54.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. Barclays increased their target price on shares of Bristol-Myers Squibb from $42.00 to $43.00 and gave the stock an “underweight” rating in a report on Monday, October 7th. Finally, TD Cowen lifted their price target on shares of Bristol-Myers Squibb from $53.00 to $59.00 and gave the company a “hold” rating in a report on Monday, October 7th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Bristol-Myers Squibb presently has an average rating of “Hold” and an average target price of $53.08.

Bristol-Myers Squibb Stock Down 2.6 %

Shares of BMY stock opened at $54.34 on Friday. The company’s fifty day simple moving average is $51.26 and its two-hundred day simple moving average is $46.58. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $56.20. The stock has a market cap of $110.17 billion, a P/E ratio of -16.67, a PEG ratio of 14.62 and a beta of 0.46. 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 (NYSE:BMY) last announced its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 EPS for the quarter, beating analysts’ consensus estimates of $1.49 by $0.31. 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 $11.89 billion during the quarter, compared to analyst estimates of $11.26 billion. During the same period in the prior year, the company earned $2.00 earnings per share. The firm’s revenue was up 8.4% on a year-over-year basis. Analysts predict that Bristol-Myers Squibb will post 0.72 EPS for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 4th were issued a $0.60 dividend. The ex-dividend date was Friday, October 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.42%. Bristol-Myers Squibb’s dividend payout ratio is presently -73.62%.

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.