Bright Futures Wealth Management LLC. Takes Position in Bristol-Myers Squibb (NYSE:BMY)

Bright Futures Wealth Management LLC. bought a new position in shares of Bristol-Myers Squibb (NYSE:BMY) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 4,263 shares of the biopharmaceutical company’s stock, valued at approximately $177,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Traynor Capital Management Inc. boosted its stake in shares of Bristol-Myers Squibb by 2.8% in the first quarter. Traynor Capital Management Inc. now owns 7,672 shares of the biopharmaceutical company’s stock valued at $416,000 after purchasing an additional 207 shares during the period. Newbridge Financial Services Group Inc. lifted its holdings in Bristol-Myers Squibb by 12.8% during the 1st quarter. Newbridge Financial Services Group Inc. now owns 1,910 shares of the biopharmaceutical company’s stock worth $104,000 after buying an additional 216 shares in the last quarter. Paragon Capital Management LLC boosted its position in Bristol-Myers Squibb by 1.1% in the 1st quarter. Paragon Capital Management LLC now owns 20,500 shares of the biopharmaceutical company’s stock valued at $1,112,000 after buying an additional 222 shares during the period. OmniStar Financial Group Inc. grew its stake in shares of Bristol-Myers Squibb by 1.7% in the second quarter. OmniStar Financial Group Inc. now owns 13,316 shares of the biopharmaceutical company’s stock worth $553,000 after acquiring an additional 224 shares in the last quarter. Finally, LGT Financial Advisors LLC increased its position in shares of Bristol-Myers Squibb by 42.7% during the second quarter. LGT Financial Advisors LLC now owns 759 shares of the biopharmaceutical company’s stock worth $32,000 after acquiring an additional 227 shares during the period. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Bristol-Myers Squibb Stock Performance

NYSE BMY opened at $48.50 on Tuesday. The firm has a market cap of $98.33 billion, a P/E ratio of -15.65, a P/E/G ratio of 12.62 and a beta of 0.46. Bristol-Myers Squibb has a 52-week low of $39.35 and a 52-week high of $61.42. The business’s 50-day moving average price is $46.09 and its 200 day moving average price is $46.53. The company has a quick ratio of 1.02, a current ratio of 1.16 and a debt-to-equity ratio of 2.86.

Bristol-Myers Squibb (NYSE:BMY) last announced its earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share 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 period last year, the business posted $1.75 EPS. The company’s revenue was up 8.7% on a year-over-year basis. On average, equities research analysts expect that Bristol-Myers Squibb will post 0.77 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Friday, July 5th were paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 4.95%. The ex-dividend date of this dividend was Friday, July 5th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -77.42%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Barclays lifted their target price on Bristol-Myers Squibb from $41.00 to $42.00 and gave the company an “underweight” rating in a report on Thursday, August 22nd. 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 research note on Tuesday, July 23rd. TD Cowen upped their target price on shares of Bristol-Myers Squibb from $45.00 to $53.00 and gave the stock a “hold” rating in a research note on Monday, August 12th. 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. Finally, Jefferies Financial Group increased their price objective on shares of Bristol-Myers Squibb from $49.00 to $51.00 and gave the company a “hold” rating in a research report on Wednesday, August 28th. Two equities research analysts have 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. Based on data from MarketBeat, Bristol-Myers Squibb presently has a consensus rating of “Hold” and an average price target of $54.67.

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.