Riversedge Advisors LLC Acquires New Position in Bristol-Myers Squibb (NYSE:BMY)

Riversedge Advisors LLC bought a new position in shares of Bristol-Myers Squibb (NYSE:BMY) during the 3rd quarter, HoldingsChannel.com reports. The fund bought 5,049 shares of the biopharmaceutical company’s stock, valued at approximately $261,000.

A number of other hedge funds also recently added to or reduced their stakes in BMY. Fisher Asset Management LLC grew its stake in Bristol-Myers Squibb by 129.6% during the 4th quarter. Fisher Asset Management LLC now owns 223,431 shares of the biopharmaceutical company’s stock worth $11,464,000 after purchasing an additional 126,122 shares in the last quarter. NBC Securities Inc. increased its stake in shares of Bristol-Myers Squibb by 26.5% during the first quarter. NBC Securities Inc. now owns 15,118 shares of the biopharmaceutical company’s stock worth $819,000 after buying an additional 3,169 shares during the period. Massmutual Trust Co. FSB ADV raised its holdings in Bristol-Myers Squibb by 4.0% in the first quarter. Massmutual Trust Co. FSB ADV now owns 6,221 shares of the biopharmaceutical company’s stock valued at $337,000 after acquiring an additional 240 shares in the last quarter. Perpetual Ltd lifted its stake in Bristol-Myers Squibb by 63.6% in the first quarter. Perpetual Ltd now owns 31,566 shares of the biopharmaceutical company’s stock worth $1,712,000 after acquiring an additional 12,266 shares during the last quarter. Finally, Legacy Private Trust Co. grew its holdings in Bristol-Myers Squibb by 3.5% during the 1st quarter. Legacy Private Trust Co. now owns 11,679 shares of the biopharmaceutical company’s stock worth $633,000 after acquiring an additional 400 shares in the last quarter. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Bristol-Myers Squibb Stock Performance

Bristol-Myers Squibb stock traded down $0.29 during midday trading on Thursday, hitting $53.08. 2,201,818 shares of the company’s stock were exchanged, compared to its average volume of 14,761,369. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.02 and a current ratio of 1.16. The stock has a market cap of $107.60 billion, a price-to-earnings ratio of -17.22, 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 $57.59. The firm’s 50 day simple moving average is $50.10 and its 200 day simple moving average is $46.37.

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, beating the consensus estimate of $1.64 by $0.43. Bristol-Myers Squibb had a positive return on equity of 12.51% and a negative net margin of 14.06%. The firm had revenue of $12.20 billion for the quarter, compared to analysts’ expectations of $11.54 billion. During the same quarter in the previous year, the firm posted $1.75 EPS. The firm’s revenue for the quarter was up 8.7% on a year-over-year basis. Equities research analysts predict that Bristol-Myers Squibb will post 0.77 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 4th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 4.52%. The ex-dividend date is Friday, October 4th. Bristol-Myers Squibb’s dividend payout ratio is presently -77.42%.

Analyst Upgrades and Downgrades

BMY has been the topic of a number of analyst reports. TD Cowen raised their price objective on shares of Bristol-Myers Squibb from $53.00 to $59.00 and gave the company a “hold” rating in a report on Monday, October 7th. UBS Group lifted their price target on Bristol-Myers Squibb from $50.00 to $54.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Sanford C. Bernstein assumed coverage on Bristol-Myers Squibb in a report on Thursday. They issued a “market perform” rating and a $56.00 price objective on the stock. Jefferies Financial Group boosted their target price on Bristol-Myers Squibb from $49.00 to $51.00 and gave the stock a “hold” rating in a research note on Wednesday, August 28th. Finally, StockNews.com upgraded shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 29th. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $53.20.

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.