PSI Advisors LLC Purchases 694 Shares of Bristol-Myers Squibb (NYSE:BMY)

PSI Advisors LLC boosted its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 11.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,730 shares of the biopharmaceutical company’s stock after acquiring an additional 694 shares during the period. PSI Advisors LLC’s holdings in Bristol-Myers Squibb were worth $279,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of BMY. Wetzel Investment Advisors Inc. acquired a new position in shares of Bristol-Myers Squibb during the fourth quarter worth about $40,000. Lindbrook Capital LLC boosted its position in Bristol-Myers Squibb by 17.1% during the 4th quarter. Lindbrook Capital LLC now owns 9,436 shares of the biopharmaceutical company’s stock worth $484,000 after acquiring an additional 1,376 shares during the last quarter. Hussman Strategic Advisors Inc. bought a new position in shares of Bristol-Myers Squibb during the 4th quarter worth approximately $1,616,000. Commerzbank Aktiengesellschaft FI acquired a new stake in shares of Bristol-Myers Squibb in the fourth quarter valued at approximately $208,000. Finally, OLD National Bancorp IN lifted its position in shares of Bristol-Myers Squibb by 0.3% in the fourth quarter. OLD National Bancorp IN now owns 170,019 shares of the biopharmaceutical company’s stock worth $8,724,000 after purchasing an additional 476 shares in the last quarter. Institutional investors own 76.41% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on BMY. Barclays lifted their price target on shares of Bristol-Myers Squibb from $41.00 to $42.00 and gave the company an “underweight” rating in a research note on Thursday. Cantor Fitzgerald reiterated a “neutral” rating and set a $45.00 target price on shares of Bristol-Myers Squibb in a report on Monday, July 22nd. Deutsche Bank Aktiengesellschaft decreased their price target 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. StockNews.com upgraded Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 29th. Finally, TD Cowen increased their price objective on Bristol-Myers Squibb from $45.00 to $53.00 and gave the company a “hold” rating in a report on Monday, August 12th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $54.93.

Bristol-Myers Squibb Stock Performance

Bristol-Myers Squibb stock traded down $0.82 during trading hours on Thursday, hitting $47.62. The company had a trading volume of 9,946,808 shares, compared to its average volume of 15,730,980. The firm has a 50-day moving average of $44.24 and a 200 day moving average of $46.59. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.16 and a quick ratio of 0.99. The firm has a market cap of $96.53 billion, a PE ratio of -15.36, a PEG ratio of 12.51 and a beta of 0.44. Bristol-Myers Squibb has a one year low of $39.35 and a one year high of $63.41.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share for the quarter, topping 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 business had revenue of $12.20 billion during the quarter, compared to analysts’ expectations of $11.54 billion. During the same period last year, the firm posted $1.75 EPS. The firm’s revenue for the quarter was up 8.7% compared to the same quarter last year. On average, sell-side analysts expect that Bristol-Myers Squibb will post 0.77 earnings per share for the current year.

Bristol-Myers Squibb Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Friday, July 5th were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 5.04%. The ex-dividend date was Friday, July 5th. Bristol-Myers Squibb’s dividend payout ratio is currently -77.42%.

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.