Greenwood Capital Associates LLC Raises Stake in Bristol-Myers Squibb (NYSE:BMY)

Greenwood Capital Associates LLC boosted its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 602.5% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 37,097 shares of the biopharmaceutical company’s stock after purchasing an additional 31,816 shares during the quarter. Greenwood Capital Associates LLC’s holdings in Bristol-Myers Squibb were worth $1,919,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently made changes to their positions in BMY. Patriot Financial Group Insurance Agency LLC increased its position in shares of Bristol-Myers Squibb by 3.8% in the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 5,595 shares of the biopharmaceutical company’s stock worth $289,000 after purchasing an additional 206 shares during the last quarter. Legacy Wealth Asset Management LLC lifted its holdings in Bristol-Myers Squibb by 2.1% in the third quarter. Legacy Wealth Asset Management LLC now owns 10,288 shares of the biopharmaceutical company’s stock worth $532,000 after acquiring an additional 215 shares during the last quarter. Paragon Capital Management LLC grew its holdings in shares of Bristol-Myers Squibb by 1.1% during the first quarter. Paragon Capital Management LLC now owns 20,500 shares of the biopharmaceutical company’s stock valued at $1,112,000 after purchasing an additional 222 shares during the last quarter. OmniStar Financial Group Inc. lifted its holdings in shares of Bristol-Myers Squibb by 1.7% in the 2nd quarter. OmniStar Financial Group Inc. now owns 13,316 shares of the biopharmaceutical company’s stock worth $553,000 after purchasing an additional 224 shares during the last quarter. Finally, LGT Financial Advisors LLC boosted its position in Bristol-Myers Squibb by 42.7% during the 2nd quarter. LGT Financial Advisors LLC now owns 759 shares of the biopharmaceutical company’s stock valued at $32,000 after purchasing an additional 227 shares during the period. 76.41% of the stock is currently owned by institutional investors.

Bristol-Myers Squibb Stock Up 2.1 %

Shares of Bristol-Myers Squibb stock opened at $55.45 on Tuesday. The company has a current ratio of 1.16, a quick ratio of 1.02 and a debt-to-equity ratio of 2.86. Bristol-Myers Squibb has a 1 year low of $39.35 and a 1 year high of $56.20. The stock has a 50-day moving average price of $51.41 and a 200 day moving average price of $46.61. The company has a market cap of $112.42 billion, a P/E ratio of -15.45, a P/E/G ratio of 15.49 and a beta of 0.44.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 EPS for the quarter, topping the consensus estimate of $1.49 by $0.31. The business had revenue of $11.89 billion during the quarter, compared to analysts’ expectations of $11.26 billion. Bristol-Myers Squibb had a negative net margin of 15.30% and a positive return on equity of 11.40%. The firm’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same period last year, the company posted $2.00 earnings per share. As a group, analysts expect that Bristol-Myers Squibb will post 0.72 EPS for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 4th were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.33%. The ex-dividend date was Friday, October 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -66.85%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on BMY shares. StockNews.com upgraded Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 29th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of 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. UBS Group raised their price target on shares of Bristol-Myers Squibb from $50.00 to $54.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. Cantor Fitzgerald reissued a “neutral” rating and issued a $50.00 price objective on shares of Bristol-Myers Squibb in a report on Friday, October 18th. Finally, Citigroup downgraded Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and cut their target price for the company from $75.00 to $55.00 in a research note on Friday, October 25th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $53.00.

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.