Bristol-Myers Squibb (NYSE:BMY) Stake Boosted by Resonant Capital Advisors LLC

Resonant Capital Advisors LLC boosted its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 15.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 50,023 shares of the biopharmaceutical company’s stock after purchasing an additional 6,863 shares during the quarter. Resonant Capital Advisors LLC’s holdings in Bristol-Myers Squibb were worth $2,567,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. OFI Invest Asset Management bought a new stake in shares of Bristol-Myers Squibb during the third quarter valued at about $25,000. True Wealth Design LLC acquired a new position in Bristol-Myers Squibb during the 4th quarter valued at about $26,000. Milestone Investment Advisors LLC acquired a new stake in shares of Bristol-Myers Squibb in the 3rd quarter worth approximately $27,000. Coppell Advisory Solutions LLC bought a new position in shares of Bristol-Myers Squibb in the second quarter valued at approximately $28,000. Finally, Blue Bell Private Wealth Management LLC increased its stake in shares of Bristol-Myers Squibb by 61.5% during the third quarter. Blue Bell Private Wealth Management LLC now owns 525 shares of the biopharmaceutical company’s stock valued at $30,000 after acquiring an additional 200 shares during the period. 76.41% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on BMY. Redburn Atlantic lowered Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and decreased their price target for the company from $77.00 to $54.00 in a research note on Tuesday, February 6th. Societe Generale downgraded shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a report on Monday, March 11th. Bank of America cut shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $68.00 to $60.00 in a research note on Wednesday, January 3rd. 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 lifted their price target on shares of Bristol-Myers Squibb from $51.00 to $52.00 and gave the stock an “equal weight” rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Bristol-Myers Squibb has a consensus rating of “Hold” and a consensus target price of $61.18.

Bristol-Myers Squibb Stock Performance

Shares of Bristol-Myers Squibb stock traded up $0.63 during trading on Friday, reaching $48.93. The company’s stock had a trading volume of 6,554,004 shares, compared to its average volume of 15,655,852. Bristol-Myers Squibb has a one year low of $47.58 and a one year high of $70.93. The firm has a market cap of $99.17 billion, a price-to-earnings ratio of 12.56, a price-to-earnings-growth ratio of 1.44 and a beta of 0.39. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.31 and a current ratio of 1.43. The business’s fifty day moving average price is $51.25 and its 200-day moving average price is $51.57.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings results on Friday, February 2nd. The biopharmaceutical company reported $1.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.55 by $0.15. The business had revenue of $11.48 billion for the quarter, compared to the consensus estimate of $11.19 billion. Bristol-Myers Squibb had a net margin of 17.83% and a return on equity of 50.95%. The firm’s quarterly revenue was up .6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.82 EPS. As a group, equities research analysts predict that Bristol-Myers Squibb will post 6.63 earnings per share 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 given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 4.90%. The ex-dividend date of this dividend is Thursday, April 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently 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.