Solitude Financial Services Acquires 1,509 Shares of Bristol-Myers Squibb (NYSE:BMY)

Solitude Financial Services lifted its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 17.1% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 10,310 shares of the biopharmaceutical company’s stock after purchasing an additional 1,509 shares during the quarter. Bristol-Myers Squibb comprises approximately 0.2% of Solitude Financial Services’ holdings, making the stock its 24th biggest position. Solitude Financial Services’ holdings in Bristol-Myers Squibb were worth $533,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in BMY. Patriot Financial Group Insurance Agency LLC lifted its holdings in Bristol-Myers Squibb by 3.8% during the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 5,595 shares of the biopharmaceutical company’s stock worth $289,000 after purchasing an additional 206 shares during the last quarter. Xponance Inc. raised its holdings in Bristol-Myers Squibb by 8.8% in the 2nd quarter. Xponance Inc. now owns 317,381 shares of the biopharmaceutical company’s stock valued at $13,181,000 after acquiring an additional 25,543 shares in the last quarter. Plato Investment Management Ltd raised its holdings in Bristol-Myers Squibb by 25.4% in the 2nd quarter. Plato Investment Management Ltd now owns 103,954 shares of the biopharmaceutical company’s stock valued at $4,317,000 after acquiring an additional 21,041 shares in the last quarter. Advisory Services Network LLC raised its holdings in Bristol-Myers Squibb by 47.0% in the 1st quarter. Advisory Services Network LLC now owns 119,423 shares of the biopharmaceutical company’s stock valued at $6,476,000 after acquiring an additional 38,163 shares in the last quarter. Finally, AlTi Global Inc. raised its holdings in Bristol-Myers Squibb by 795.6% in the 2nd quarter. AlTi Global Inc. now owns 107,268 shares of the biopharmaceutical company’s stock valued at $4,455,000 after acquiring an additional 95,291 shares in the last quarter. 76.41% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have weighed in on BMY shares. Citigroup cut Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $75.00 to $55.00 in a report on Friday, October 25th. UBS Group boosted their price objective on Bristol-Myers Squibb from $50.00 to $54.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Sanford C. Bernstein started coverage on Bristol-Myers Squibb in a research report on Thursday, October 17th. They set a “market perform” rating and a $56.00 price objective on the stock. Cantor Fitzgerald reiterated a “neutral” rating and issued a $50.00 price target on shares of Bristol-Myers Squibb in a research report on Friday, October 18th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on 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. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $53.00.

Bristol-Myers Squibb Stock Up 2.1 %

BMY stock opened at $55.45 on Tuesday. The stock’s 50 day simple moving average is $51.41 and its 200 day simple moving average is $46.61. Bristol-Myers Squibb has a fifty-two week low of $39.35 and a fifty-two week high of $56.20. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.02 and a current ratio of 1.16. The company has a market cap of $112.42 billion, a P/E ratio of -15.45, a price-to-earnings-growth ratio of 15.49 and a beta of 0.44.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported $1.80 EPS for the quarter, topping the consensus estimate of $1.49 by $0.31. The firm had revenue of $11.89 billion during the quarter, compared to the consensus estimate of $11.26 billion. Bristol-Myers Squibb had a positive return on equity of 11.40% and a negative net margin of 15.30%. The company’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same period in the prior year, the business posted $2.00 earnings per share. On average, research analysts expect that Bristol-Myers Squibb will post 0.72 earnings per share for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 4th were issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 4.33%. The ex-dividend date of this dividend was Friday, October 4th. Bristol-Myers Squibb’s dividend payout ratio is presently -66.85%.

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.