Tyche Wealth Partners LLC Makes New $349,000 Investment in Bristol-Myers Squibb (NYSE:BMY)

Tyche Wealth Partners LLC bought a new position in Bristol-Myers Squibb (NYSE:BMY) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 6,797 shares of the biopharmaceutical company’s stock, valued at approximately $349,000.

Other hedge funds have also recently added to or reduced their stakes in the company. True Wealth Design LLC acquired a new stake in Bristol-Myers Squibb in the fourth quarter valued at approximately $26,000. Coppell Advisory Solutions Corp. acquired a new stake in Bristol-Myers Squibb in the fourth quarter valued at approximately $31,000. Coppell Advisory Solutions LLC acquired a new stake in Bristol-Myers Squibb in the second quarter valued at approximately $28,000. Live Oak Investment Partners acquired a new stake in Bristol-Myers Squibb in the fourth quarter valued at approximately $33,000. Finally, OFI Invest Asset Management acquired a new stake in Bristol-Myers Squibb in the third quarter valued at approximately $25,000. Institutional investors and hedge funds own 76.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Societe Generale cut Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research note on Monday, March 11th. StockNews.com cut Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research report on Monday. Redburn Atlantic cut Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and cut their target price for the company from $77.00 to $54.00 in a research report on Tuesday, February 6th. Wells Fargo & Company cut their target price on Bristol-Myers Squibb from $58.00 to $51.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 6th. Finally, Bank of America cut Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and cut their target price for the company from $68.00 to $60.00 in a research report on Wednesday, January 3rd. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $61.12.

Bristol-Myers Squibb Stock Performance

Shares of BMY opened at $47.83 on Thursday. The firm has a market cap of $96.94 billion, a PE ratio of 12.39, a PEG ratio of 1.49 and a beta of 0.39. The stock’s fifty day moving average price is $51.26 and its two-hundred day moving average price is $51.59. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.43 and a quick ratio of 1.31. Bristol-Myers Squibb has a 1 year low of $47.58 and a 1 year high of $70.93.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings data on Friday, February 2nd. The biopharmaceutical company reported $1.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.55 by $0.15. The business had revenue of $11.48 billion for the quarter, compared to analysts’ expectations of $11.19 billion. Bristol-Myers Squibb had a return on equity of 50.95% and a net margin of 17.83%. The firm’s quarterly revenue was up .6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.82 EPS. On average, equities research analysts forecast that Bristol-Myers Squibb will post 6.47 EPS for the current year.

Bristol-Myers Squibb Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Friday, April 5th will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $2.40 dividend on an annualized basis and a yield of 5.02%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is 62.18%.

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.