Patriot Financial Group Insurance Agency LLC boosted its stake in shares of Bristol-Myers Squibb Co (NYSE:BMY) by 174.3% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 8,294 shares of the biopharmaceutical company’s stock after buying an additional 5,270 shares during the quarter. Patriot Financial Group Insurance Agency LLC’s holdings in Bristol-Myers Squibb were worth $515,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. CSat Investment Advisory L.P. purchased a new stake in Bristol-Myers Squibb in the second quarter worth $113,000. Landaas & Co. WI ADV purchased a new stake in Bristol-Myers Squibb in the second quarter worth $131,000. Selective Wealth Management purchased a new stake in Bristol-Myers Squibb in the third quarter worth $184,000. LFA Lugano Financial Advisors SA increased its stake in Bristol-Myers Squibb by 85.8% in the third quarter. LFA Lugano Financial Advisors SA now owns 3,207 shares of the biopharmaceutical company’s stock worth $199,000 after purchasing an additional 1,481 shares during the period. Finally, Pure Financial Advisors Inc. purchased a new stake in Bristol-Myers Squibb in the third quarter worth $201,000. Institutional investors and hedge funds own 72.29% of the company’s stock.
BMY opened at $50.02 on Wednesday. Bristol-Myers Squibb Co has a 12-month low of $46.94 and a 12-month high of $70.05. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.40 and a current ratio of 1.53. The firm has a market cap of $82.31 billion, a PE ratio of 16.62, a PEG ratio of 1.39 and a beta of 0.98.
The company also recently declared a quarterly dividend, which will be paid on Thursday, November 1st. Stockholders of record on Friday, October 5th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.20%. The ex-dividend date is Thursday, October 4th. Bristol-Myers Squibb’s payout ratio is 53.16%.
A number of research firms have weighed in on BMY. BMO Capital Markets reduced their target price on Bristol-Myers Squibb from $57.00 to $54.00 and set a “market perform” rating on the stock in a research note on Tuesday, October 23rd. Wolfe Research began coverage on Bristol-Myers Squibb in a research note on Tuesday, October 23rd. They issued an “outperform” rating and a $66.00 target price on the stock. William Blair reiterated an “outperform” rating on shares of Bristol-Myers Squibb in a research note on Monday, October 22nd. Citigroup lowered Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $62.00 to $57.00 in a research note on Monday, October 22nd. Finally, ValuEngine lowered Bristol-Myers Squibb from a “hold” rating to a “sell” rating in a research note on Friday, October 19th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $62.42.
Bristol-Myers Squibb Company Profile
Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, and distributes biopharmaceutical products worldwide. The company offers drugs in various therapeutic classes, such as oncology; cardiovascular; immunoscience; and virology, including human immunodeficiency virus (HIV) infection.
Further Reading: Balance Sheet
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