Ritholtz Wealth Management Buys 10,669 Shares of Bristol-Myers Squibb (NYSE:BMY)

Ritholtz Wealth Management raised its stake in Bristol-Myers Squibb (NYSE:BMY) by 81.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 23,843 shares of the biopharmaceutical company’s stock after acquiring an additional 10,669 shares during the period. Ritholtz Wealth Management’s holdings in Bristol-Myers Squibb were worth $1,234,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Global Assets Advisory LLC acquired a new stake in shares of Bristol-Myers Squibb during the 1st quarter worth about $5,161,000. Lincoln National Corp increased its holdings in shares of Bristol-Myers Squibb by 7.7% during the first quarter. Lincoln National Corp now owns 42,894 shares of the biopharmaceutical company’s stock worth $2,326,000 after buying an additional 3,052 shares in the last quarter. Chapin Davis Inc. raised its stake in shares of Bristol-Myers Squibb by 22.6% in the first quarter. Chapin Davis Inc. now owns 22,544 shares of the biopharmaceutical company’s stock valued at $1,223,000 after acquiring an additional 4,159 shares during the last quarter. Accel Wealth Management boosted its holdings in shares of Bristol-Myers Squibb by 19.0% in the 1st quarter. Accel Wealth Management now owns 4,934 shares of the biopharmaceutical company’s stock worth $268,000 after acquiring an additional 788 shares in the last quarter. Finally, Brookstone Capital Management grew its position in Bristol-Myers Squibb by 36.4% during the 1st quarter. Brookstone Capital Management now owns 150,037 shares of the biopharmaceutical company’s stock worth $8,137,000 after acquiring an additional 40,018 shares during the last quarter. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. UBS Group lifted their price objective on Bristol-Myers Squibb from $50.00 to $54.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $50.00 price target on shares of Bristol-Myers Squibb in a report on Monday, September 16th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating on the stock in a report on Tuesday, July 23rd. TD Cowen boosted their target price on shares of Bristol-Myers Squibb from $53.00 to $59.00 and gave the stock a “hold” rating in a research note on Monday, October 7th. Finally, BMO Capital Markets reissued a “market perform” rating and set a $48.00 price target on shares of Bristol-Myers Squibb in a research note on Monday, September 23rd. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $53.00.

Bristol-Myers Squibb Price Performance

Shares of BMY opened at $52.20 on Monday. The stock has a market cap of $105.81 billion, a P/E ratio of -16.84, a price-to-earnings-growth ratio of 13.75 and a beta of 0.46. Bristol-Myers Squibb has a 1 year low of $39.35 and a 1 year high of $57.65. The stock’s 50-day moving average price is $49.75 and its two-hundred day moving average price is $46.34. The company has a current ratio of 1.16, a quick ratio of 1.02 and a debt-to-equity ratio of 2.86.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings data on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share (EPS) for the quarter, beating 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 14.06% and a positive return on equity of 12.51%. The business’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.75 earnings per share. On average, equities analysts predict that Bristol-Myers Squibb will post 0.77 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 4th will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 4.60%. The ex-dividend date of this dividend is Friday, October 4th. Bristol-Myers Squibb’s payout ratio is presently -77.42%.

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.