Mission Wealth Management LP Buys 1,903 Shares of Bristol-Myers Squibb (NYSE:BMY)

Mission Wealth Management LP raised its holdings in Bristol-Myers Squibb (NYSE:BMY) by 9.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 22,359 shares of the biopharmaceutical company’s stock after buying an additional 1,903 shares during the quarter. Mission Wealth Management LP’s holdings in Bristol-Myers Squibb were worth $1,213,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in BMY. Westside Investment Management Inc. lifted its stake in shares of Bristol-Myers Squibb by 2.9% during the 4th quarter. Westside Investment Management Inc. now owns 7,156 shares of the biopharmaceutical company’s stock worth $367,000 after acquiring an additional 204 shares during the last quarter. Traynor Capital Management Inc. lifted its stake in shares of Bristol-Myers Squibb by 2.8% during the 1st quarter. Traynor Capital Management Inc. now owns 7,672 shares of the biopharmaceutical company’s stock worth $416,000 after acquiring an additional 207 shares during the last quarter. Fulton Breakefield Broenniman LLC lifted its stake in shares of Bristol-Myers Squibb by 4.6% during the 4th quarter. Fulton Breakefield Broenniman LLC now owns 4,744 shares of the biopharmaceutical company’s stock worth $243,000 after acquiring an additional 209 shares during the last quarter. Chapin Davis Inc. lifted its stake in shares of Bristol-Myers Squibb by 1.2% during the 4th quarter. Chapin Davis Inc. now owns 18,385 shares of the biopharmaceutical company’s stock worth $943,000 after acquiring an additional 214 shares during the last quarter. Finally, Accurate Wealth Management LLC increased its holdings in Bristol-Myers Squibb by 4.0% during the 1st quarter. Accurate Wealth Management LLC now owns 5,612 shares of the biopharmaceutical company’s stock worth $304,000 after purchasing an additional 216 shares during the period. 76.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have commented on BMY shares. Societe Generale downgraded Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a report on Monday, March 11th. Barclays reduced their price objective on Bristol-Myers Squibb from $51.00 to $43.00 and set an “equal weight” rating on the stock in a report on Friday, April 26th. William Blair restated a “market perform” rating on shares of Bristol-Myers Squibb in a report on Monday, April 1st. Wells Fargo & Company raised their price objective on Bristol-Myers Squibb from $51.00 to $52.00 and gave the stock an “equal weight” rating in a report on Thursday, April 18th. Finally, StockNews.com downgraded Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 27th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $60.00.

Bristol-Myers Squibb Stock Performance

BMY traded up $0.20 on Friday, reaching $39.66. 12,824,373 shares of the stock were exchanged, compared to its average volume of 15,346,125. The company’s 50-day moving average price is $42.27 and its 200 day moving average price is $47.78. Bristol-Myers Squibb has a fifty-two week low of $39.35 and a fifty-two week high of $65.38. The company has a debt-to-equity ratio of 2.99, a current ratio of 1.11 and a quick ratio of 0.99. The firm has a market capitalization of $80.39 billion, a PE ratio of -12.79, a PEG ratio of 13.71 and a beta of 0.44.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) EPS for the quarter, topping analysts’ consensus estimates of ($4.53) by $0.13. Bristol-Myers Squibb had a positive return on equity of 8.83% and a negative net margin of 13.50%. The company had revenue of $11.87 billion during the quarter, compared to analysts’ expectations of $11.45 billion. During the same quarter in the previous year, the firm posted $2.05 EPS. The firm’s revenue was up 4.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Bristol-Myers Squibb will post 0.58 EPS for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Friday, July 5th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, July 5th. This represents a $2.40 dividend on an annualized basis and a yield of 6.05%. Bristol-Myers Squibb’s dividend payout ratio is currently -77.42%.

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.