Wedbush Securities Inc. Grows Stock Holdings in Bristol-Myers Squibb Co (NYSE:BMY)

Wedbush Securities Inc. raised its position in shares of Bristol-Myers Squibb Co (NYSE:BMY) by 6.4% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 66,876 shares of the biopharmaceutical company’s stock after buying an additional 4,045 shares during the period. Wedbush Securities Inc.’s holdings in Bristol-Myers Squibb were worth $3,391,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Lenox Wealth Advisors LLC boosted its holdings in Bristol-Myers Squibb by 555.7% in the third quarter. Lenox Wealth Advisors LLC now owns 636 shares of the biopharmaceutical company’s stock valued at $32,000 after purchasing an additional 539 shares during the period. Financial Gravity Wealth Inc. boosted its holdings in Bristol-Myers Squibb by 101.2% in the third quarter. Financial Gravity Wealth Inc. now owns 650 shares of the biopharmaceutical company’s stock valued at $33,000 after purchasing an additional 327 shares during the period. Endurance Wealth Management Inc. boosted its holdings in Bristol-Myers Squibb by 119.6% in the second quarter. Endurance Wealth Management Inc. now owns 918 shares of the biopharmaceutical company’s stock valued at $42,000 after purchasing an additional 500 shares during the period. HMS Capital Management LLC purchased a new position in Bristol-Myers Squibb in the second quarter valued at $45,000. Finally, Global Trust Asset Management LLC boosted its holdings in Bristol-Myers Squibb by 251.1% in the second quarter. Global Trust Asset Management LLC now owns 3,511 shares of the biopharmaceutical company’s stock valued at $48,000 after purchasing an additional 2,511 shares during the period. Institutional investors and hedge funds own 80.25% of the company’s stock.

Bristol-Myers Squibb stock traded up $0.40 during midday trading on Friday, reaching $52.82. The company’s stock had a trading volume of 5,966,796 shares, compared to its average volume of 9,915,286. Bristol-Myers Squibb Co has a fifty-two week low of $42.48 and a fifty-two week high of $57.53. The company has a quick ratio of 3.75, a current ratio of 3.88 and a debt-to-equity ratio of 1.51. The company has a market cap of $84.78 billion, a P/E ratio of 13.27, a P/E/G ratio of 2.33 and a beta of 0.72. The business has a 50-day simple moving average of $49.86 and a 200-day simple moving average of $47.17.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings results on Thursday, July 25th. The biopharmaceutical company reported $1.18 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.06 by $0.12. Bristol-Myers Squibb had a return on equity of 47.63% and a net margin of 26.14%. The company had revenue of $6.27 billion for the quarter, compared to analysts’ expectations of $6.10 billion. During the same period last year, the firm earned $1.01 earnings per share. Bristol-Myers Squibb’s quarterly revenue was up 10.0% on a year-over-year basis. As a group, equities analysts forecast that Bristol-Myers Squibb Co will post 4.29 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 4th will be paid a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date is Thursday, October 3rd. Bristol-Myers Squibb’s dividend payout ratio is presently 41.21%.

In other Bristol-Myers Squibb news, Director Robert J. Bertolini purchased 11,000 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were bought at an average cost of $44.72 per share, for a total transaction of $491,920.00. Following the completion of the purchase, the director now directly owns 11,397 shares in the company, valued at $509,673.84. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.13% of the stock is owned by company insiders.

A number of research analysts recently issued reports on the company. ValuEngine upgraded Bristol-Myers Squibb from a “sell” rating to a “hold” rating in a report on Monday, October 7th. JPMorgan Chase & Co. set a $62.00 target price on Bristol-Myers Squibb and gave the company a “buy” rating in a report on Friday, September 13th. Atlantic Securities upgraded Bristol-Myers Squibb from a “neutral” rating to an “overweight” rating and set a $63.00 target price for the company in a report on Wednesday, August 14th. TheStreet upgraded Bristol-Myers Squibb from a “c+” rating to a “b-” rating in a report on Wednesday, September 18th. Finally, Bank of America initiated coverage on Bristol-Myers Squibb in a report on Wednesday. They issued a “buy” rating and a $60.00 target price for the company. Seven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Bristol-Myers Squibb presently has a consensus rating of “Buy” and a consensus target price of $56.53.

Bristol-Myers Squibb Company Profile

Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. The company offers drugs in oncology, immunoscience, cardiovascular, and fibrotic diseases. The company's products include Opdivo, a biological product for anti-cancer indications; Eliquis, an oral inhibitor targeted at stroke prevention in adult patients with non-valvular atrial fibrillation, and the prevention and treatment of venous thromboembolic disorders; and Orencia, a biological product for adult patients with moderately to severely active RA and prostate-specific antigen, as well as reducing signs and symptoms in certain pediatric patients with moderately to severely active polyarticular juvenile idiopathic arthritis.

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Institutional Ownership by Quarter for Bristol-Myers Squibb (NYSE:BMY)

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