Counterweight Ventures LLC Buys 1,971 Shares of Bristol-Myers Squibb (NYSE:BMY)

Counterweight Ventures LLC lifted its stake in Bristol-Myers Squibb (NYSE:BMY) by 8.2% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 26,073 shares of the biopharmaceutical company’s stock after acquiring an additional 1,971 shares during the quarter. Counterweight Ventures LLC’s holdings in Bristol-Myers Squibb were worth $1,083,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Chris Bulman Inc bought a new stake in shares of Bristol-Myers Squibb in the second quarter worth approximately $48,000. Mosley Wealth Management boosted its holdings in shares of Bristol-Myers Squibb by 11.8% in the second quarter. Mosley Wealth Management now owns 6,937 shares of the biopharmaceutical company’s stock worth $288,000 after buying an additional 730 shares during the last quarter. Illinois Municipal Retirement Fund boosted its holdings in shares of Bristol-Myers Squibb by 27.2% in the second quarter. Illinois Municipal Retirement Fund now owns 769,703 shares of the biopharmaceutical company’s stock worth $31,966,000 after buying an additional 164,565 shares during the last quarter. Commonwealth Retirement Investments LLC bought a new position in Bristol-Myers Squibb in the second quarter worth approximately $1,742,000. Finally, New York Life Investment Management LLC boosted its stake in shares of Bristol-Myers Squibb by 1.0% during the 2nd quarter. New York Life Investment Management LLC now owns 321,185 shares of the biopharmaceutical company’s stock worth $13,339,000 after acquiring an additional 3,261 shares during the last quarter. 76.41% of the stock is currently owned by institutional investors.

Bristol-Myers Squibb Stock Down 2.2 %

BMY opened at $48.70 on Friday. The firm has a 50-day simple moving average of $45.95 and a two-hundred day simple moving average of $46.58. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $61.42. The company has a market capitalization of $98.72 billion, a PE ratio of -15.71, a price-to-earnings-growth ratio of 12.92 and a beta of 0.46. The company has a quick ratio of 1.02, a current ratio of 1.16 and a debt-to-equity ratio of 2.86.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings data on Friday, July 26th. The biopharmaceutical company reported $2.07 EPS for the quarter, beating the consensus estimate 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 business had revenue of $12.20 billion during the quarter, compared to the consensus estimate of $11.54 billion. During the same quarter in the prior year, the firm earned $1.75 EPS. The business’s revenue was up 8.7% on a year-over-year basis. Analysts forecast that Bristol-Myers Squibb will post 0.77 earnings per share for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Friday, July 5th were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.93%. The ex-dividend date was Friday, July 5th. Bristol-Myers Squibb’s payout ratio is -77.42%.

Wall Street Analysts Forecast Growth

BMY has been the subject of several analyst reports. StockNews.com upgraded Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 29th. Jefferies Financial Group upped their price objective on Bristol-Myers Squibb from $49.00 to $51.00 and gave the stock a “hold” rating in a research note on Wednesday, August 28th. TD Cowen upped their price objective on Bristol-Myers Squibb from $45.00 to $53.00 and gave the stock a “hold” rating in a research note on Monday, August 12th. Barclays upped their price objective 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. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective 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. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Bristol-Myers Squibb has an average rating of “Hold” and a consensus price target of $54.67.

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.