Northcape Wealth Management LLC Buys 402 Shares of Bristol-Myers Squibb (NYSE:BMY)

Northcape Wealth Management LLC increased its stake in Bristol-Myers Squibb (NYSE:BMY) by 6.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,684 shares of the biopharmaceutical company’s stock after acquiring an additional 402 shares during the period. Northcape Wealth Management LLC’s holdings in Bristol-Myers Squibb were worth $343,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. McClarren Financial Advisors Inc. raised its position in Bristol-Myers Squibb by 532.7% during the 4th quarter. McClarren Financial Advisors Inc. now owns 1,879 shares of the biopharmaceutical company’s stock valued at $96,000 after purchasing an additional 1,582 shares during the last quarter. Institute for Wealth Management LLC. raised its position in Bristol-Myers Squibb by 1.0% during the 4th quarter. Institute for Wealth Management LLC. now owns 30,056 shares of the biopharmaceutical company’s stock valued at $1,542,000 after purchasing an additional 296 shares during the last quarter. Herold Advisors Inc. raised its position in Bristol-Myers Squibb by 3.2% during the 3rd quarter. Herold Advisors Inc. now owns 33,668 shares of the biopharmaceutical company’s stock valued at $1,954,000 after purchasing an additional 1,051 shares during the last quarter. Kestra Private Wealth Services LLC raised its position in Bristol-Myers Squibb by 9.5% during the 3rd quarter. Kestra Private Wealth Services LLC now owns 139,811 shares of the biopharmaceutical company’s stock valued at $8,115,000 after purchasing an additional 12,121 shares during the last quarter. Finally, Metis Global Partners LLC raised its position in Bristol-Myers Squibb by 14.8% during the 3rd quarter. Metis Global Partners LLC now owns 101,772 shares of the biopharmaceutical company’s stock valued at $5,907,000 after purchasing an additional 13,122 shares during the last quarter. Institutional investors own 76.41% of the company’s stock.

Wall Street Analysts Forecast Growth

BMY has been the subject of a number of recent analyst reports. Redburn Atlantic lowered Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and lowered their price target for the company from $77.00 to $54.00 in a research report on Tuesday, February 6th. Societe Generale lowered Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research report on Monday, March 11th. BMO Capital Markets decreased their target price on Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating for the company in a research report on Friday, April 26th. Bank of America lowered Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $68.00 to $60.00 in a research report on Wednesday, January 3rd. Finally, William Blair reissued a “market perform” rating on shares of Bristol-Myers Squibb in a research report on Monday, April 1st. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $60.00.

Bristol-Myers Squibb Stock Down 1.6 %

BMY stock opened at $43.94 on Wednesday. Bristol-Myers Squibb has a 1 year low of $43.93 and a 1 year high of $69.10. The company has a debt-to-equity ratio of 2.99, a quick ratio of 0.99 and a current ratio of 1.11. The stock’s fifty day moving average price is $50.81 and its 200-day moving average price is $50.93.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($4.53) by $0.13. The firm had revenue of $11.87 billion for the quarter, compared to the consensus estimate of $11.45 billion. Bristol-Myers Squibb had a positive return on equity of 8.83% and a negative net margin of 13.50%. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period last year, the business posted $2.05 EPS. Equities analysts anticipate that Bristol-Myers Squibb will post 0.58 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Friday, April 5th will be paid a $0.60 dividend. The ex-dividend date is Thursday, April 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 5.46%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently -77.42%.

About Bristol-Myers Squibb

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.