Pathway Financial Advisers LLC Takes Position in Bristol-Myers Squibb (NYSE:BMY)

Pathway Financial Advisers LLC bought a new position in shares of Bristol-Myers Squibb (NYSE:BMY) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,104 shares of the biopharmaceutical company’s stock, valued at approximately $60,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in Bristol-Myers Squibb in the fourth quarter valued at about $1,560,524,000. Capital International Investors lifted its holdings in shares of Bristol-Myers Squibb by 14.1% in the 1st quarter. Capital International Investors now owns 70,203,814 shares of the biopharmaceutical company’s stock worth $3,807,153,000 after acquiring an additional 8,675,322 shares during the last quarter. M&G Plc purchased a new position in shares of Bristol-Myers Squibb during the 1st quarter worth approximately $392,608,000. Pzena Investment Management LLC increased its holdings in Bristol-Myers Squibb by 119.8% in the 1st quarter. Pzena Investment Management LLC now owns 12,293,913 shares of the biopharmaceutical company’s stock valued at $666,699,000 after purchasing an additional 6,701,097 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in Bristol-Myers Squibb by 77.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 12,547,823 shares of the biopharmaceutical company’s stock valued at $680,469,000 after purchasing an additional 5,461,767 shares during the period. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Stock Up 1.2 %

Shares of NYSE BMY traded up $0.60 during midday trading on Friday, hitting $48.77. 15,601,503 shares of the company’s stock were exchanged, compared to its average volume of 17,378,216. The firm’s fifty day simple moving average is $42.39 and its 200-day simple moving average is $46.73. The company has a market cap of $98.88 billion, a PE ratio of -15.73, a P/E/G ratio of 12.51 and a beta of 0.44. Bristol-Myers Squibb has a twelve month low of $39.35 and a twelve month high of $63.41. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.16 and a quick ratio of 0.99.

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

Bristol-Myers Squibb Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Friday, July 5th were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 4.92%. The ex-dividend date of this dividend was Friday, July 5th. Bristol-Myers Squibb’s payout ratio is -77.42%.

Wall Street Analyst Weigh In

BMY has been the subject of several research analyst reports. Barclays lowered Bristol-Myers Squibb from an “overweight” rating to an “equal weight” rating and set a $41.00 price target for the company. in a research report on Monday, July 29th. Wells Fargo & Company boosted their price target on shares of Bristol-Myers Squibb from $51.00 to $52.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 18th. BMO Capital Markets lowered their price objective on shares of Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating for the company in a research note on Friday, April 26th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $45.00 target price on shares of Bristol-Myers Squibb in a research note on Monday, July 22nd. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on shares of Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating for the company in a research report on Tuesday, July 23rd. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Bristol-Myers Squibb presently has a consensus rating of “Hold” and an average price target of $55.79.

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.