Legacy Capital Group California Inc. Acquires 2,922 Shares of Bristol-Myers Squibb (NYSE:BMY)

Legacy Capital Group California Inc. increased its stake in Bristol-Myers Squibb (NYSE:BMY) by 76.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 6,733 shares of the biopharmaceutical company’s stock after purchasing an additional 2,922 shares during the quarter. Legacy Capital Group California Inc.’s holdings in Bristol-Myers Squibb were worth $280,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of BMY. Wetzel Investment Advisors Inc. purchased a new position in shares of Bristol-Myers Squibb in the fourth quarter valued at about $40,000. J.W. Cole Advisors Inc. raised its position in shares of Bristol-Myers Squibb by 9.5% during the fourth quarter. J.W. Cole Advisors Inc. now owns 31,831 shares of the biopharmaceutical company’s stock valued at $1,633,000 after buying an additional 2,773 shares during the last quarter. Lindbrook Capital LLC boosted its position in shares of Bristol-Myers Squibb by 17.1% during the fourth 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. Verdence Capital Advisors LLC grew its stake in Bristol-Myers Squibb by 3.5% during the fourth quarter. Verdence Capital Advisors LLC now owns 42,673 shares of the biopharmaceutical company’s stock valued at $2,190,000 after acquiring an additional 1,433 shares in the last quarter. Finally, Hussman Strategic Advisors Inc. bought a new stake in Bristol-Myers Squibb in the 4th quarter valued at $1,616,000. Institutional investors own 76.41% of the company’s stock.

Analyst Ratings Changes

BMY has been the topic of a number of research analyst reports. BMO Capital Markets decreased their target price on Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating on the stock in a research report on Friday, April 26th. Barclays cut shares of Bristol-Myers Squibb from an “overweight” rating to an “equal weight” rating and set a $41.00 price objective for the company. in a research note 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. TD Cowen raised their price objective on Bristol-Myers Squibb from $45.00 to $53.00 and gave the company a “hold” rating in a research note on Monday, August 12th. Finally, Cantor Fitzgerald restated a “neutral” rating and set a $45.00 price target on shares of Bristol-Myers Squibb in a report on Monday, July 22nd. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Bristol-Myers Squibb currently has a consensus rating of “Hold” and an average target price of $54.86.

Bristol-Myers Squibb Stock Down 1.4 %

Shares of NYSE:BMY traded down $0.67 during trading on Wednesday, reaching $48.31. The stock had a trading volume of 5,005,802 shares, compared to its average volume of 15,749,677. Bristol-Myers Squibb has a one year low of $39.35 and a one year high of $63.41. The firm’s 50-day simple moving average is $43.99 and its 200 day simple moving average is $46.57. The company has a current ratio of 1.16, a quick ratio of 0.99 and a debt-to-equity ratio of 2.86. The company has a market capitalization of $97.93 billion, a P/E ratio of -15.78, a PEG ratio of 12.51 and a beta of 0.44.

Bristol-Myers Squibb (NYSE:BMY) last released its earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 EPS for the quarter, topping analysts’ consensus estimates of $1.64 by $0.43. Bristol-Myers Squibb had a negative net margin of 14.06% and a positive return on equity of 12.51%. The company had revenue of $12.20 billion during the quarter, compared to analysts’ expectations of $11.54 billion. During the same period last year, the business earned $1.75 EPS. Bristol-Myers Squibb’s revenue for the quarter was up 8.7% on a year-over-year basis. As a group, research analysts expect that Bristol-Myers Squibb will post 0.77 EPS for the current fiscal 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 paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 4.97%. The ex-dividend date of this dividend was Friday, July 5th. Bristol-Myers Squibb’s 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.