Westhampton Capital LLC Buys 11,700 Shares of Bristol-Myers Squibb (NYSE:BMY)

Westhampton Capital LLC increased its stake in Bristol-Myers Squibb (NYSE:BMY) by 75.4% in the third quarter, Holdings Channel.com reports. The institutional investor owned 27,217 shares of the biopharmaceutical company’s stock after acquiring an additional 11,700 shares during the period. Westhampton Capital LLC’s holdings in Bristol-Myers Squibb were worth $1,408,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of BMY. ESL Trust Services LLC bought a new position in shares of Bristol-Myers Squibb in the 1st quarter worth approximately $27,000. LGT Financial Advisors LLC grew its stake in Bristol-Myers Squibb by 42.7% in the second quarter. LGT Financial Advisors LLC now owns 759 shares of the biopharmaceutical company’s stock worth $32,000 after purchasing an additional 227 shares during the period. ORG Wealth Partners LLC purchased a new position in Bristol-Myers Squibb during the third quarter valued at $34,000. MFA Wealth Advisors LLC purchased a new position in Bristol-Myers Squibb during the second quarter valued at $39,000. Finally, Beach Investment Counsel Inc. PA bought a new stake in shares of Bristol-Myers Squibb during the 2nd quarter valued at $42,000. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Bristol-Myers Squibb Trading Up 1.2 %

NYSE:BMY opened at $52.76 on Wednesday. The company has a market cap of $106.95 billion, a PE ratio of -17.02, a price-to-earnings-growth ratio of 13.75 and a beta of 0.46. The company has a current ratio of 1.16, a quick ratio of 1.02 and a debt-to-equity ratio of 2.86. The company has a 50 day simple moving average of $50.53 and a two-hundred day simple moving average of $46.35. Bristol-Myers Squibb has a 12 month low of $39.35 and a 12 month high of $56.77.

Bristol-Myers Squibb (NYSE:BMY) last announced its earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.64 by $0.43. The company had revenue of $12.20 billion during the quarter, compared to analyst estimates 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 firm’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.75 earnings per share. Research analysts forecast that Bristol-Myers Squibb will post 0.77 earnings per share for the current year.

Bristol-Myers Squibb Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 4th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.40 annualized dividend and a dividend yield of 4.55%. Bristol-Myers Squibb’s payout ratio is -77.42%.

Analyst Ratings Changes

Several brokerages recently issued reports on BMY. Sanford C. Bernstein began coverage on shares of Bristol-Myers Squibb in a research note on Thursday, October 17th. They issued a “market perform” rating and a $56.00 price target for the company. BMO Capital Markets reaffirmed a “market perform” rating and set a $48.00 target price on shares of Bristol-Myers Squibb in a research note on Monday, September 23rd. Jefferies Financial Group boosted their price target on Bristol-Myers Squibb from $49.00 to $51.00 and gave the stock a “hold” rating in a research report on Wednesday, August 28th. Barclays raised their price objective on Bristol-Myers Squibb from $42.00 to $43.00 and gave the company an “underweight” rating in a research report on Monday, October 7th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating for the company in a research note on Tuesday, July 23rd. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $53.20.

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.