Parcion Private Wealth LLC Takes Position in Bristol-Myers Squibb (NYSE:BMY)

Parcion Private Wealth LLC purchased a new stake in Bristol-Myers Squibb (NYSE:BMY) in the third quarter, according to the company in its most recent filing with the SEC. The firm purchased 5,024 shares of the biopharmaceutical company’s stock, valued at approximately $260,000.

Other large investors have also made changes to their positions in the company. ESL Trust Services LLC purchased a new position in shares of Bristol-Myers Squibb in the 1st quarter valued at about $27,000. ORG Wealth Partners LLC purchased a new position in Bristol-Myers Squibb during the 3rd quarter valued at about $34,000. LGT Financial Advisors LLC increased its holdings in Bristol-Myers Squibb by 42.7% during the 2nd quarter. LGT Financial Advisors LLC now owns 759 shares of the biopharmaceutical company’s stock valued at $32,000 after acquiring an additional 227 shares in the last quarter. Redmont Wealth Advisors LLC purchased a new position in Bristol-Myers Squibb during the 1st quarter valued at about $47,000. Finally, MFA Wealth Advisors LLC purchased a new position in Bristol-Myers Squibb during the 2nd quarter valued at about $39,000. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Stock Down 1.9 %

Shares of NYSE:BMY opened at $51.92 on Friday. 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 fifty day simple moving average of $50.75 and a 200 day simple moving average of $46.41. The firm has a market cap of $105.25 billion, a PE ratio of -16.75, a price-to-earnings-growth ratio of 13.75 and a beta of 0.46. Bristol-Myers Squibb has a 12-month low of $39.35 and a 12-month high of $55.29.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.64 by $0.43. The business 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 business’s revenue was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.75 earnings per share. On average, equities research analysts anticipate that Bristol-Myers Squibb will post 0.77 EPS for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently announced 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. The ex-dividend date is Friday, October 4th. This represents a $2.40 annualized dividend and a yield of 4.62%. Bristol-Myers Squibb’s payout ratio is -77.42%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on BMY. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating for the company in a report on Tuesday, July 23rd. Cantor Fitzgerald reissued a “neutral” rating and issued a $50.00 target price on shares of Bristol-Myers Squibb in a research report on Friday, October 18th. Barclays raised their target price on shares of Bristol-Myers Squibb from $42.00 to $43.00 and gave the stock an “underweight” rating in a research report on Monday, October 7th. Sanford C. Bernstein initiated coverage on shares of Bristol-Myers Squibb in a research report on Thursday, October 17th. They set a “market perform” rating and a $56.00 price target on the stock. Finally, StockNews.com raised shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 29th. Two research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Bristol-Myers Squibb has an average rating of “Hold” and a consensus target price of $53.31.

About Bristol-Myers Squibb

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.