Marcum Wealth LLC Buys 2,466 Shares of Bristol-Myers Squibb (NYSE:BMY)

Marcum Wealth LLC grew its stake in Bristol-Myers Squibb (NYSE:BMY) by 18.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,834 shares of the biopharmaceutical company’s stock after purchasing an additional 2,466 shares during the quarter. Marcum Wealth LLC’s holdings in Bristol-Myers Squibb were worth $658,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Northwest Financial Advisors acquired a new stake in Bristol-Myers Squibb during the fourth quarter worth about $27,000. ESL Trust Services LLC bought a new position in Bristol-Myers Squibb in the 1st quarter valued at approximately $27,000. Accordant Advisory Group Inc bought a new position in Bristol-Myers Squibb during the 1st quarter worth approximately $31,000. Pacific Capital Wealth Advisors Inc. bought a new position in Bristol-Myers Squibb during the 4th quarter worth approximately $34,000. Finally, Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Bristol-Myers Squibb during the 4th quarter worth approximately $40,000. 76.41% of the stock is owned by institutional investors.

Bristol-Myers Squibb Price Performance

Shares of BMY traded down $1.17 during mid-day trading on Monday, hitting $47.60. 17,878,345 shares of the stock were exchanged, compared to its average volume of 15,981,216. The company has a market cap of $96.49 billion, a PE ratio of -15.35, a price-to-earnings-growth ratio of 12.51 and a beta of 0.44. Bristol-Myers Squibb has a 52-week low of $39.35 and a 52-week high of $63.41. The firm has a 50-day moving average of $42.39 and a two-hundred day moving average of $46.70. The company has a debt-to-equity ratio of 2.86, a quick ratio of 0.99 and a current ratio of 1.16.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Friday, July 26th. The biopharmaceutical company reported $2.07 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 company had revenue of $12.20 billion for the quarter, compared to the consensus estimate of $11.54 billion. During the same quarter in the prior year, the company posted $1.75 EPS. Bristol-Myers Squibb’s quarterly revenue was up 8.7% on a year-over-year basis. On average, equities analysts predict that Bristol-Myers Squibb will post 0.77 earnings per share for the current year.

Bristol-Myers Squibb Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Friday, July 5th were given a $0.60 dividend. The ex-dividend date was Friday, July 5th. This represents a $2.40 annualized dividend and a dividend yield of 5.04%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -77.42%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on BMY. Barclays downgraded shares of Bristol-Myers Squibb from an “overweight” rating to an “equal weight” rating and set a $41.00 price target for the company. in a research report on Monday, July 29th. StockNews.com upgraded Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 29th. Wells Fargo & Company upped their target price on Bristol-Myers Squibb from $51.00 to $52.00 and gave the company an “equal weight” rating in a report on Thursday, April 18th. Deutsche Bank Aktiengesellschaft decreased their price objective on Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating for the company in a report on Tuesday, July 23rd. Finally, BMO Capital Markets reduced their price target on Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating for the company in a report on Friday, April 26th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Bristol-Myers Squibb currently has a consensus rating of “Hold” and a consensus target price of $55.79.

Bristol-Myers Squibb Company 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.