Tyche Wealth Partners LLC Raises Stake in Bristol-Myers Squibb (NYSE:BMY)

Tyche Wealth Partners LLC boosted its stake in Bristol-Myers Squibb (NYSE:BMY) by 20.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,729 shares of the biopharmaceutical company’s stock after purchasing an additional 979 shares during the quarter. Tyche Wealth Partners LLC’s holdings in Bristol-Myers Squibb were worth $324,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. AMF Tjanstepension AB grew its position in shares of Bristol-Myers Squibb by 6.9% during the third quarter. AMF Tjanstepension AB now owns 610,181 shares of the biopharmaceutical company’s stock worth $31,618,000 after acquiring an additional 39,419 shares during the last quarter. Atomi Financial Group Inc. bought a new position in shares of Bristol-Myers Squibb during the third quarter worth about $371,000. Brookstone Capital Management grew its position in shares of Bristol-Myers Squibb by 11.1% during the third quarter. Brookstone Capital Management now owns 167,639 shares of the biopharmaceutical company’s stock worth $8,674,000 after acquiring an additional 16,744 shares during the last quarter. Future Financial Wealth Managment LLC bought a new position in shares of Bristol-Myers Squibb during the third quarter worth about $71,000. Finally, CWM LLC grew its position in shares of Bristol-Myers Squibb by 7.1% during the third quarter. CWM LLC now owns 581,448 shares of the biopharmaceutical company’s stock worth $30,084,000 after acquiring an additional 38,761 shares during the last quarter. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on BMY. Wolfe Research began coverage on shares of Bristol-Myers Squibb in a research report on Friday, November 15th. They set a “peer perform” rating for the company. Sanford C. Bernstein began coverage on shares of Bristol-Myers Squibb in a report on Thursday, October 17th. They issued a “market perform” rating and a $56.00 price objective for the company. Bank of America reaffirmed a “neutral” rating and issued a $63.00 price objective on shares of Bristol-Myers Squibb in a report on Tuesday, December 10th. Daiwa Capital Markets raised shares of Bristol-Myers Squibb from a “neutral” rating to an “outperform” rating in a report on Wednesday, November 13th. Finally, Cantor Fitzgerald upped their price objective on shares of Bristol-Myers Squibb from $50.00 to $55.00 and gave the stock a “neutral” rating in a report on Tuesday. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, four have issued a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, Bristol-Myers Squibb currently has an average rating of “Hold” and an average target price of $57.14.

Bristol-Myers Squibb Price Performance

Shares of NYSE BMY opened at $57.43 on Friday. The company has a current ratio of 1.24, a quick ratio of 1.09 and a debt-to-equity ratio of 2.83. Bristol-Myers Squibb has a twelve month low of $39.35 and a twelve month high of $61.10. The company has a market capitalization of $116.47 billion, a price-to-earnings ratio of -16.00, a PEG ratio of 2.10 and a beta of 0.45. The firm has a 50-day moving average of $57.65 and a two-hundred day moving average of $53.63.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.47 by $0.20. Bristol-Myers Squibb had a negative net margin of 15.30% and a positive return on equity of 11.94%. As a group, analysts expect that Bristol-Myers Squibb will post 0.92 earnings per share for the current fiscal year.

Bristol-Myers Squibb Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, January 3rd were issued a dividend of $0.62 per share. This is an increase from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend was Friday, January 3rd. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.32%. Bristol-Myers Squibb’s payout ratio is currently -69.08%.

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.