Calton & Associates Inc. Grows Position in Bristol-Myers Squibb (NYSE:BMY)

Calton & Associates Inc. grew its stake in Bristol-Myers Squibb (NYSE:BMY) by 58.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,503 shares of the biopharmaceutical company’s stock after buying an additional 5,711 shares during the period. Calton & Associates Inc.’s holdings in Bristol-Myers Squibb were worth $802,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Global Assets Advisory LLC purchased a new position in shares of Bristol-Myers Squibb in the 1st quarter valued at about $5,161,000. Austin Private Wealth LLC increased its position in Bristol-Myers Squibb by 30.7% during the first quarter. Austin Private Wealth LLC now owns 6,070 shares of the biopharmaceutical company’s stock worth $317,000 after purchasing an additional 1,427 shares during the last quarter. Wallace Advisory Group LLC increased its position in Bristol-Myers Squibb by 18.4% during the first quarter. Wallace Advisory Group LLC now owns 6,104 shares of the biopharmaceutical company’s stock worth $313,000 after purchasing an additional 950 shares during the last quarter. Beech Hill Advisors Inc. increased its position in Bristol-Myers Squibb by 1.5% during the first quarter. Beech Hill Advisors Inc. now owns 19,118 shares of the biopharmaceutical company’s stock worth $1,037,000 after purchasing an additional 291 shares during the last quarter. Finally, Thompson Investment Management Inc. increased its position in Bristol-Myers Squibb by 10.6% during the first quarter. Thompson Investment Management Inc. now owns 80,477 shares of the biopharmaceutical company’s stock worth $4,364,000 after purchasing an additional 7,737 shares during the last quarter. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Bristol-Myers Squibb Stock Performance

Shares of BMY traded up $0.16 during midday trading on Tuesday, reaching $52.28. 237,249 shares of the stock were exchanged, compared to its average volume of 14,635,080. Bristol-Myers Squibb has a twelve month low of $39.35 and a twelve month high of $56.77. The business’s 50-day moving average price is $50.46 and its 200 day moving average price is $46.34. The company has a market capitalization of $105.98 billion, a price-to-earnings ratio of -16.81, a PEG ratio of 13.75 and a beta of 0.46. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.16 and a quick ratio of 1.02.

Bristol-Myers Squibb (NYSE:BMY) last posted its earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share (EPS) 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 firm had revenue of $12.20 billion for the quarter, compared to analyst estimates of $11.54 billion. During the same quarter in the prior year, the company earned $1.75 EPS. Bristol-Myers Squibb’s revenue was up 8.7% on a year-over-year basis. On average, sell-side analysts expect 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 will be paid on Friday, November 1st. Stockholders of record on Friday, October 4th will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.59%. Bristol-Myers Squibb’s payout ratio is -77.42%.

Wall Street Analysts Forecast Growth

BMY has been the subject of a number of recent analyst reports. BMO Capital Markets reiterated a “market perform” rating and set a $48.00 price target on shares of Bristol-Myers Squibb in a research report on Monday, September 23rd. Deutsche Bank Aktiengesellschaft dropped 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. 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 research report on Monday, October 7th. StockNews.com upgraded shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 29th. Finally, Sanford C. Bernstein initiated coverage on shares of Bristol-Myers Squibb in a research report on Thursday, October 17th. They set a “market perform” rating and a $56.00 price target for the company. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $53.20.

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.