Riversedge Advisors LLC Takes $261,000 Position in Bristol-Myers Squibb (NYSE:BMY)

Riversedge Advisors LLC bought a new position in shares of Bristol-Myers Squibb (NYSE:BMY) in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 5,049 shares of the biopharmaceutical company’s stock, valued at approximately $261,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Good Life Advisors LLC lifted its stake in Bristol-Myers Squibb by 107.2% in the 3rd quarter. Good Life Advisors LLC now owns 32,262 shares of the biopharmaceutical company’s stock valued at $1,669,000 after buying an additional 16,689 shares in the last quarter. Avaii Wealth Management LLC raised its holdings in shares of Bristol-Myers Squibb by 18.6% during the third quarter. Avaii Wealth Management LLC now owns 12,120 shares of the biopharmaceutical company’s stock valued at $627,000 after acquiring an additional 1,899 shares during the last quarter. Financial Advisors LLC acquired a new position in shares of Bristol-Myers Squibb during the third quarter valued at approximately $206,000. One Wealth Advisors LLC lifted its position in shares of Bristol-Myers Squibb by 206.9% in the third quarter. One Wealth Advisors LLC now owns 18,972 shares of the biopharmaceutical company’s stock valued at $982,000 after acquiring an additional 12,790 shares in the last quarter. Finally, Naviter Wealth LLC boosted its stake in shares of Bristol-Myers Squibb by 47.1% in the third quarter. Naviter Wealth LLC now owns 32,533 shares of the biopharmaceutical company’s stock worth $1,683,000 after acquiring an additional 10,412 shares during the last quarter. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Trading Down 0.5 %

Shares of NYSE BMY traded down $0.29 during mid-day trading on Thursday, reaching $53.08. 2,201,818 shares of the company’s stock were exchanged, compared to its average volume of 14,761,369. The firm has a market capitalization of $107.60 billion, a price-to-earnings ratio of -17.22, a PEG ratio of 13.75 and a beta of 0.46. Bristol-Myers Squibb has a 52-week low of $39.35 and a 52-week high of $57.59. The company’s 50-day moving average is $50.10 and its 200-day moving average is $46.37. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.02 and a current ratio of 1.16.

Bristol-Myers Squibb (NYSE:BMY) last announced its earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share for the quarter, topping 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%. Bristol-Myers Squibb’s revenue was up 8.7% compared to the same quarter last year. During the same quarter last year, the firm posted $1.75 earnings per share. Analysts expect that Bristol-Myers Squibb will post 0.77 EPS for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 4th will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 4.52%. The ex-dividend date is Friday, October 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is -77.42%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on BMY. Jefferies Financial Group raised their price objective on Bristol-Myers Squibb from $49.00 to $51.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating on the stock in a research note on Tuesday, July 23rd. TD Cowen upped their price objective on shares of Bristol-Myers Squibb from $53.00 to $59.00 and gave the company a “hold” rating in a research note on Monday, October 7th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $50.00 price objective on shares of Bristol-Myers Squibb in a report on Monday, September 16th. Finally, BMO Capital Markets restated a “market perform” rating and set a $48.00 target price on shares of Bristol-Myers Squibb in a report on Monday, September 23rd. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $53.20.

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.