Ceeto Capital Group LLC Grows Stock Holdings in Bristol-Myers Squibb (NYSE:BMY)

Ceeto Capital Group LLC raised its position in Bristol-Myers Squibb (NYSE:BMY) by 6.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 30,900 shares of the biopharmaceutical company’s stock after acquiring an additional 1,900 shares during the quarter. Ceeto Capital Group LLC’s holdings in Bristol-Myers Squibb were worth $1,676,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of BMY. Northwest Financial Advisors purchased a new position in shares of Bristol-Myers Squibb in the fourth quarter valued at about $27,000. ESL Trust Services LLC purchased a new position in shares of Bristol-Myers Squibb in the first quarter valued at about $27,000. Accordant Advisory Group Inc purchased a new position in shares of Bristol-Myers Squibb in the first quarter valued at about $31,000. Pacific Capital Wealth Advisors Inc. purchased a new position in shares of Bristol-Myers Squibb during the fourth quarter valued at about $34,000. Finally, Turtle Creek Wealth Advisors LLC purchased a new position in shares of Bristol-Myers Squibb during the fourth quarter valued at about $40,000. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Price Performance

Shares of NYSE BMY traded up $5.18 during midday trading on Friday, reaching $50.45. The stock had a trading volume of 36,636,434 shares, compared to its average volume of 15,289,099. The stock has a 50-day moving average of $41.76 and a 200-day moving average of $46.76. The company has a debt-to-equity ratio of 2.99, a quick ratio of 0.99 and a current ratio of 1.11. The company has a market capitalization of $102.27 billion, a price-to-earnings ratio of -16.27, a price-to-earnings-growth ratio of 19.02 and a beta of 0.44. Bristol-Myers Squibb has a 12-month low of $39.35 and a 12-month high of $63.41.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share (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 analysts’ expectations of $11.54 billion. Bristol-Myers Squibb had a negative net margin of 13.50% and a positive return on equity of 8.83%. The company’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period in the prior year, the company posted $1.75 earnings per share. As a group, research analysts anticipate that Bristol-Myers Squibb will post 0.59 EPS for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Friday, July 5th will be given a dividend of $0.60 per share. The ex-dividend date is Friday, July 5th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.76%. Bristol-Myers Squibb’s dividend payout ratio is -77.42%.

Analysts Set New Price Targets

Several brokerages recently issued reports on BMY. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating on the stock in a research report on Tuesday, July 23rd. StockNews.com cut shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 27th. BMO Capital Markets dropped their price objective on shares of Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating on the stock in a research note on Friday, April 26th. William Blair reissued a “market perform” rating on shares of Bristol-Myers Squibb in a research note on Monday, April 1st. Finally, Wells Fargo & Company boosted their price objective on shares of Bristol-Myers Squibb from $51.00 to $52.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 18th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $57.73.

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.