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

Eads & Heald Wealth Management raised its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 9.7% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,818 shares of the biopharmaceutical company’s stock after purchasing an additional 1,670 shares during the period. Eads & Heald Wealth Management’s holdings in Bristol-Myers Squibb were worth $974,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Reston Wealth Management LLC purchased a new position in shares of Bristol-Myers Squibb during the 3rd quarter valued at about $25,000. ESL Trust Services LLC purchased a new position in shares of Bristol-Myers Squibb during the first quarter worth approximately $27,000. Valued Wealth Advisors LLC lifted its holdings in shares of Bristol-Myers Squibb by 1,168.1% in the 3rd quarter. Valued Wealth Advisors LLC now owns 596 shares of the biopharmaceutical company’s stock worth $31,000 after acquiring an additional 549 shares during the last quarter. LGT Financial Advisors LLC boosted its stake in shares of Bristol-Myers Squibb by 42.7% in the 2nd quarter. LGT Financial Advisors LLC now owns 759 shares of the biopharmaceutical company’s stock valued at $32,000 after purchasing an additional 227 shares in the last quarter. Finally, ORG Wealth Partners LLC bought a new position in shares of Bristol-Myers Squibb during the 3rd quarter valued at $34,000. Institutional investors own 76.41% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on BMY shares. UBS Group upped their price target on shares of Bristol-Myers Squibb from $50.00 to $54.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. BMO Capital Markets raised their price target on Bristol-Myers Squibb from $53.00 to $57.00 and gave the stock a “market perform” rating in a research report on Friday. StockNews.com upgraded Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 29th. Jefferies Financial Group raised their target price on shares of Bristol-Myers Squibb from $49.00 to $51.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. Finally, Deutsche Bank Aktiengesellschaft lowered 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 report on Tuesday, July 23rd. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and one has given 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 $53.08.

Bristol-Myers Squibb Trading Down 2.6 %

NYSE BMY opened at $54.34 on Friday. The stock’s 50 day moving average is $51.26 and its 200 day moving average is $46.58. The company has a quick ratio of 1.02, a current ratio of 1.16 and a debt-to-equity ratio of 2.86. The firm has a market capitalization of $110.17 billion, a PE ratio of -16.67, a P/E/G ratio of 14.62 and a beta of 0.46. Bristol-Myers Squibb has a twelve month low of $39.35 and a twelve month high of $56.20.

Bristol-Myers Squibb (NYSE:BMY) last released its earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share for the quarter, topping analysts’ consensus estimates of $1.49 by $0.31. The firm had revenue of $11.89 billion for the quarter, compared to the consensus estimate of $11.26 billion. Bristol-Myers Squibb had a negative net margin of 14.06% and a positive return on equity of 12.51%. The company’s revenue was up 8.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.00 EPS. Research analysts forecast that Bristol-Myers Squibb will post 0.72 earnings per share for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 4th were given a $0.60 dividend. The ex-dividend date of this dividend 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 currently -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.