Wealthspire Advisors LLC Grows Stake in Bristol Myers Squibb Company (NYSE:BMY)

Key Points

• Wealthspire Advisors LLC has significantly increased its stake in Bristol Myers Squibb by 106.2%, owning 59,144 shares valued at approximately $3.6 million as of the last quarter.
• Analysts have mixed views on the stock, with a consensus rating of "Hold" and a target price of $56.38, despite some downgrades from firms like Jefferies and Goldman Sachs.
• Bristol Myers Squibb reported a strong quarterly earnings result, with $1.46 EPS exceeding estimates by $0.39, and revenue of $12.27 billion compared to expectations of $11.32 billion.

Wealthspire Advisors LLC increased its stake in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 106.2% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 59,144 shares of the biopharmaceutical company's stock after purchasing an additional 30,465 shares during the period. Wealthspire Advisors LLC's holdings in Bristol Myers Squibb were worth $3,607,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Pinney & Scofield Inc. purchased a new stake in shares of Bristol Myers Squibb in the fourth quarter valued at approximately $25,000. Park Square Financial Group LLC purchased a new stake in Bristol Myers Squibb in the 4th quarter valued at $26,000. Transce3nd LLC acquired a new stake in shares of Bristol Myers Squibb in the 4th quarter worth $28,000. Global Wealth Strategies & Associates raised its holdings in shares of Bristol Myers Squibb by 137.5% during the 1st quarter. Global Wealth Strategies & Associates now owns 475 shares of the biopharmaceutical company's stock worth $29,000 after acquiring an additional 275 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Bristol Myers Squibb during the 1st quarter valued at about $31,000. 76.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on BMY shares. Wall Street Zen cut shares of Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a research report on Friday, June 6th. William Blair reaffirmed a "market perform" rating on shares of Bristol Myers Squibb in a research report on Friday, April 25th. UBS Group lowered their price objective on Bristol Myers Squibb from $60.00 to $54.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. Citigroup cut their target price on Bristol Myers Squibb from $51.00 to $47.00 and set a "neutral" rating for the company in a research note on Friday, August 1st. Finally, Daiwa Capital Markets lowered Bristol Myers Squibb from an "outperform" rating to a "neutral" rating and set a $42.00 price target on the stock. in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Bristol Myers Squibb has a consensus rating of "Hold" and an average price target of $56.38.

Bristol Myers Squibb Stock Up 1.1%

NYSE:BMY traded up $0.50 during midday trading on Thursday, reaching $45.32. The company had a trading volume of 11,839,864 shares, compared to its average volume of 13,897,906. Bristol Myers Squibb Company has a 12-month low of $42.96 and a 12-month high of $63.33. The firm has a market capitalization of $92.24 billion, a price-to-earnings ratio of 18.27, a PEG ratio of 2.29 and a beta of 0.36. The company has a current ratio of 1.21, a quick ratio of 1.11 and a debt-to-equity ratio of 2.54. The stock's fifty day simple moving average is $47.36 and its 200-day simple moving average is $51.98.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.07 by $0.39. Bristol Myers Squibb had a return on equity of 80.04% and a net margin of 10.58%. The company had revenue of $12.27 billion for the quarter, compared to analyst estimates of $11.32 billion. During the same quarter last year, the company earned $2.07 EPS. Bristol Myers Squibb's revenue for the quarter was up .6% compared to the same quarter last year. On average, sell-side analysts anticipate that Bristol Myers Squibb Company will post 6.74 earnings per share for the current fiscal year.

Bristol Myers Squibb Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Thursday, July 3rd were issued a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 5.5%. The ex-dividend date was Thursday, July 3rd. Bristol Myers Squibb's dividend payout ratio (DPR) is presently 100.00%.

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.