Pathway Financial Advisers LLC Acquires New Holdings in Bristol-Myers Squibb (NYSE:BMY)

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

Several other large investors also recently made changes to their positions in the company. Trust Point Inc. bought a new stake in shares of Bristol-Myers Squibb during the fourth quarter valued at about $904,000. Advisory Alpha LLC bought a new stake in shares of Bristol-Myers Squibb during the 4th quarter worth about $298,000. Comprehensive Financial Consultants Institutional Inc. lifted its stake in shares of Bristol-Myers Squibb by 16.5% in the 4th quarter. Comprehensive Financial Consultants Institutional Inc. now owns 16,922 shares of the biopharmaceutical company’s stock worth $868,000 after acquiring an additional 2,402 shares during the period. Arvest Investments Inc. bought a new position in shares of Bristol-Myers Squibb in the fourth quarter valued at approximately $1,919,000. Finally, Kempner Capital Management Inc. increased its stake in shares of Bristol-Myers Squibb by 41.6% during the fourth quarter. Kempner Capital Management Inc. now owns 69,361 shares of the biopharmaceutical company’s stock valued at $3,559,000 after acquiring an additional 20,366 shares during the period. Institutional investors and hedge funds own 76.41% of the company’s stock.

Bristol-Myers Squibb Stock Up 1.2 %

Shares of Bristol-Myers Squibb stock traded up $0.60 during midday trading on Friday, hitting $48.77. The company’s stock had a trading volume of 15,601,503 shares, compared to its average volume of 17,378,216. Bristol-Myers Squibb has a 1-year low of $39.35 and a 1-year high of $63.41. The company has a quick ratio of 0.99, a current ratio of 1.16 and a debt-to-equity ratio of 2.86. The firm has a market capitalization of $98.88 billion, a P/E ratio of -15.73, a PEG ratio of 12.51 and a beta of 0.44. The stock has a 50-day simple moving average of $42.39 and a 200-day simple moving average of $46.73.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Friday, July 26th. The biopharmaceutical company reported $2.07 EPS for the quarter, topping analysts’ consensus estimates of $1.64 by $0.43. The firm had revenue of $12.20 billion during the quarter, compared to analyst estimates of $11.54 billion. Bristol-Myers Squibb had a positive return on equity of 12.51% and a negative net margin of 14.06%. The business’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same period last year, the company posted $1.75 EPS. As a group, sell-side analysts expect that Bristol-Myers Squibb will post 0.77 earnings per share for the current year.

Bristol-Myers Squibb Announces Dividend

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

Wall Street Analysts Forecast Growth

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

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.