Wealth Enhancement Advisory Services LLC Acquires 74,486 Shares of Bristol-Myers Squibb (NYSE:BMY)

Wealth Enhancement Advisory Services LLC increased its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 19.2% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 461,514 shares of the biopharmaceutical company’s stock after purchasing an additional 74,486 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Bristol-Myers Squibb were worth $25,028,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. McClarren Financial Advisors Inc. lifted its position in shares of Bristol-Myers Squibb by 532.7% during the 4th quarter. McClarren Financial Advisors Inc. now owns 1,879 shares of the biopharmaceutical company’s stock worth $96,000 after buying an additional 1,582 shares during the last quarter. Institute for Wealth Management LLC. increased its holdings in Bristol-Myers Squibb by 1.0% in the 4th quarter. Institute for Wealth Management LLC. now owns 30,056 shares of the biopharmaceutical company’s stock worth $1,542,000 after purchasing an additional 296 shares in the last quarter. Great Diamond Partners LLC increased its holdings in Bristol-Myers Squibb by 9.2% in the 4th quarter. Great Diamond Partners LLC now owns 4,372 shares of the biopharmaceutical company’s stock worth $224,000 after purchasing an additional 367 shares in the last quarter. Global Assets Advisory LLC acquired a new position in Bristol-Myers Squibb in the 1st quarter worth about $5,161,000. Finally, Principal Securities Inc. acquired a new position in Bristol-Myers Squibb in the 4th quarter worth about $1,139,000. 76.41% of the stock is currently owned by institutional investors.

Bristol-Myers Squibb Trading Down 2.3 %

Shares of NYSE:BMY opened at $41.51 on Friday. Bristol-Myers Squibb has a 52-week low of $39.63 and a 52-week high of $65.38. The company has a current ratio of 1.11, a quick ratio of 0.99 and a debt-to-equity ratio of 2.99. The business’s 50 day simple moving average is $43.25 and its two-hundred day simple moving average is $48.27.

Bristol-Myers Squibb (NYSE:BMY) last posted its earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share for the quarter, beating analysts’ consensus estimates of ($4.53) by $0.13. Bristol-Myers Squibb had a positive return on equity of 8.83% and a negative net margin of 13.50%. The company had revenue of $11.87 billion for the quarter, compared to analyst estimates of $11.45 billion. During the same quarter last year, the company earned $2.05 earnings per share. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. As a group, equities analysts forecast that Bristol-Myers Squibb will post 0.58 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Friday, July 5th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Friday, July 5th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 5.78%. Bristol-Myers Squibb’s dividend payout ratio is presently -77.42%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. StockNews.com cut Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a report on Thursday. Societe Generale cut Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a report on Monday, March 11th. Wells Fargo & Company upped their target price on Bristol-Myers Squibb from $51.00 to $52.00 and gave the stock an “equal weight” rating in a report on Thursday, April 18th. BMO Capital Markets decreased their price target on 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. Finally, Barclays decreased their price target on Bristol-Myers Squibb from $51.00 to $43.00 and set an “equal weight” rating for the company in a research note on Friday, April 26th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Bristol-Myers Squibb currently has a consensus rating of “Hold” and an average price target of $60.00.

Bristol-Myers Squibb 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.