Bristol-Myers Squibb (NYSE:BMY) Shares Purchased by Sound Income Strategies LLC

by · The Cerbat Gem

Sound Income Strategies LLC raised its position in Bristol-Myers Squibb (NYSE:BMY – Free Report) by 46.9% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 2,770 shares of the biopharmaceutical company’s stock after purchasing an additional 885 shares during the period. Sound Income Strategies LLC’s holdings in Bristol-Myers Squibb were worth $143,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. ESL Trust Services LLC acquired a new position in shares of Bristol-Myers Squibb during the 1st quarter worth approximately $27,000. LGT Financial Advisors LLC boosted its stake in Bristol-Myers Squibb by 42.7% during the second quarter. LGT Financial Advisors LLC now owns 759 shares of the biopharmaceutical company’s stock worth $32,000 after buying an additional 227 shares during the last quarter. Redmont Wealth Advisors LLC purchased a new stake in Bristol-Myers Squibb in the 1st quarter valued at $47,000. MFA Wealth Advisors LLC acquired a new stake in shares of Bristol-Myers Squibb in the 2nd quarter worth $39,000. Finally, Beach Investment Counsel Inc. PA purchased a new position in shares of Bristol-Myers Squibb during the 2nd quarter worth $42,000. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BMY has been the subject of a number of analyst reports. TD Cowen upped their price objective on shares of Bristol-Myers Squibb from $53.00 to $59.00 and gave the company a “hold” rating in a report on Monday, October 7th. StockNews.com upgraded shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Monday, July 29th. Jefferies Financial Group upped their price objective on Bristol-Myers Squibb from $49.00 to $51.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. Deutsche Bank Aktiengesellschaft cut their target price 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. Finally, Barclays upped their price target on Bristol-Myers Squibb from $42.00 to $43.00 and gave the company an “underweight” rating in a research note on Monday, October 7th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Bristol-Myers Squibb presently has a consensus rating of “Hold” and a consensus target price of $53.00.

View Our Latest Analysis on Bristol-Myers Squibb

Bristol-Myers Squibb Price Performance

Shares of BMY opened at $52.67 on Tuesday. The company has a market cap of $106.77 billion, a P/E ratio of -16.99, a PEG ratio of 13.75 and a beta of 0.46. Bristol-Myers Squibb has a fifty-two week low of $39.35 and a fifty-two week high of $57.65. 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’s 50 day moving average price is $49.86 and its 200 day moving average price is $46.33.

Bristol-Myers Squibb (NYSE:BMY – Get Free Report) last posted 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. The business had revenue of $12.20 billion for 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 company’s revenue was up 8.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.75 earnings per share. On average, research analysts forecast that Bristol-Myers Squibb will post 0.77 earnings per share for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 4th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.56%. The ex-dividend date is Friday, October 4th. Bristol-Myers Squibb’s dividend payout ratio is presently -77.42%.

Bristol-Myers Squibb Profile

(Free Report)

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.

Recommended Stories

Want to see what other hedge funds are holding BMY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bristol-Myers Squibb (NYSE:BMY – Free Report).