Patriot Financial Group Insurance Agency LLC Increases Stock Holdings in Bristol-Myers Squibb (NYSE:BMY)

Patriot Financial Group Insurance Agency LLC lifted its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 9.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,389 shares of the biopharmaceutical company’s stock after buying an additional 447 shares during the quarter. Patriot Financial Group Insurance Agency LLC’s holdings in Bristol-Myers Squibb were worth $224,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of BMY. AustralianSuper Pty Ltd grew its position in shares of Bristol-Myers Squibb by 25.2% in the 2nd quarter. AustralianSuper Pty Ltd now owns 3,857,561 shares of the biopharmaceutical company’s stock worth $160,205,000 after buying an additional 775,908 shares during the period. Wealth Advisory Solutions LLC bought a new position in shares of Bristol-Myers Squibb in the 2nd quarter worth approximately $231,000. Skylands Capital LLC grew its position in shares of Bristol-Myers Squibb by 17.0% during the 2nd quarter. Skylands Capital LLC now owns 220,800 shares of the biopharmaceutical company’s stock valued at $9,170,000 after acquiring an additional 32,150 shares during the period. GAM Holding AG raised its stake in Bristol-Myers Squibb by 4.3% during the 2nd quarter. GAM Holding AG now owns 240,276 shares of the biopharmaceutical company’s stock worth $9,979,000 after acquiring an additional 9,867 shares during the period. Finally, Signature Estate & Investment Advisors LLC bought a new stake in Bristol-Myers Squibb during the second quarter valued at about $208,000. 76.41% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on BMY shares. Cantor Fitzgerald restated a “neutral” rating and set a $45.00 price objective on shares of Bristol-Myers Squibb in a research report on Monday, July 22nd. StockNews.com upgraded Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Monday, July 29th. Deutsche Bank Aktiengesellschaft dropped their target price on Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating on the stock in a research note on Tuesday, July 23rd. TD Cowen increased their price target 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, Barclays boosted their price target on Bristol-Myers Squibb from $41.00 to $42.00 and gave the stock an “underweight” rating in a research note on Thursday, August 22nd. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $54.93.

Bristol-Myers Squibb Stock Performance

Shares of NYSE:BMY traded up $1.38 during trading on Wednesday, reaching $49.50. The company had a trading volume of 3,479,622 shares, compared to its average volume of 15,494,551. Bristol-Myers Squibb has a fifty-two week low of $39.35 and a fifty-two week high of $63.41. 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 stock’s fifty day moving average price is $44.52 and its 200 day moving average price is $46.56. The firm has a market capitalization of $100.34 billion, a price-to-earnings ratio of -15.94, a price-to-earnings-growth ratio of 12.51 and a beta of 0.44.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.64 by $0.43. The business had revenue of $12.20 billion for the quarter, compared to analyst estimates of $11.54 billion. Bristol-Myers Squibb had a negative net margin of 14.06% and a positive return on equity of 12.51%. During the same period in the previous year, the business posted $1.75 earnings per share. The business’s revenue was up 8.7% compared to the same quarter last year. As a group, equities research analysts predict that Bristol-Myers Squibb will post 0.77 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Friday, July 5th were given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 4.85%. The ex-dividend date of this dividend was Friday, July 5th. Bristol-Myers Squibb’s payout ratio is -77.42%.

Bristol-Myers Squibb 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.