Bristol-Myers Squibb (NYSE:BMY) Shares Sold by Pathway Financial Advisers LLC

Pathway Financial Advisers LLC cut its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 97.9% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 9,034 shares of the biopharmaceutical company’s stock after selling 422,078 shares during the period. Pathway Financial Advisers LLC’s holdings in Bristol-Myers Squibb were worth $511,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Reston Wealth Management LLC acquired a new position in Bristol-Myers Squibb during the 3rd quarter worth $25,000. Hollencrest Capital Management increased its position in shares of Bristol-Myers Squibb by 61.3% in the 3rd quarter. Hollencrest Capital Management now owns 492 shares of the biopharmaceutical company’s stock valued at $25,000 after purchasing an additional 187 shares during the last quarter. Kennebec Savings Bank acquired a new stake in shares of Bristol-Myers Squibb in the 3rd quarter valued at $28,000. Darwin Wealth Management LLC purchased a new stake in shares of Bristol-Myers Squibb during the 3rd quarter worth $29,000. Finally, Valued Wealth Advisors LLC grew its stake in shares of Bristol-Myers Squibb by 1,168.1% during the third quarter. Valued Wealth Advisors LLC now owns 596 shares of the biopharmaceutical company’s stock worth $31,000 after purchasing an additional 549 shares in the last quarter. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on BMY. Truist Financial raised their target price on Bristol-Myers Squibb from $62.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Cantor Fitzgerald boosted their price target on shares of Bristol-Myers Squibb from $50.00 to $55.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. Leerink Partners raised Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $55.00 to $73.00 in a report on Tuesday, November 12th. Daiwa Capital Markets raised Bristol-Myers Squibb from a “neutral” rating to an “outperform” rating in a report on Wednesday, November 13th. Finally, Citigroup boosted their price target on Bristol-Myers Squibb from $60.00 to $65.00 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, four have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $57.86.

Bristol-Myers Squibb Trading Up 0.4 %

Shares of BMY stock opened at $56.17 on Thursday. Bristol-Myers Squibb has a 1-year low of $39.35 and a 1-year high of $61.10. The company has a debt-to-equity ratio of 2.83, a current ratio of 1.24 and a quick ratio of 1.09. The business’s fifty day moving average price is $57.38 and its 200 day moving average price is $54.02. The firm has a market capitalization of $113.92 billion, a PE ratio of -12.71, a P/E/G ratio of 2.13 and a beta of 0.45.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share for the quarter, topping analysts’ consensus estimates of $1.47 by $0.20. Bristol-Myers Squibb had a positive return on equity of 13.81% and a negative net margin of 18.53%. As a group, sell-side analysts forecast that Bristol-Myers Squibb will post 6.75 EPS for the current fiscal year.

Bristol-Myers Squibb Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, January 3rd were given a dividend of $0.62 per share. The ex-dividend date of this dividend was Friday, January 3rd. This represents a $2.48 dividend on an annualized basis and a yield of 4.42%. This is a boost from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. Bristol-Myers Squibb’s payout ratio is presently -56.11%.

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.