Sequoia Financial Advisors LLC Has $7.40 Million Position in Bristol-Myers Squibb (NYSE:BMY)

Sequoia Financial Advisors LLC increased its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 40.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 142,955 shares of the biopharmaceutical company’s stock after acquiring an additional 41,276 shares during the period. Sequoia Financial Advisors LLC’s holdings in Bristol-Myers Squibb were worth $7,397,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. ESL Trust Services LLC acquired a new stake in shares of Bristol-Myers Squibb during the 1st quarter valued at about $27,000. LGT Financial Advisors LLC lifted its holdings in Bristol-Myers Squibb by 42.7% during the 2nd quarter. LGT Financial Advisors LLC now owns 759 shares of the biopharmaceutical company’s stock valued at $32,000 after purchasing an additional 227 shares during the last quarter. ORG Wealth Partners LLC bought a new position in Bristol-Myers Squibb during the 3rd quarter valued at about $34,000. MFA Wealth Advisors LLC bought a new position in Bristol-Myers Squibb during the 2nd quarter valued at about $39,000. Finally, Beach Investment Counsel Inc. PA bought a new position in Bristol-Myers Squibb during the 2nd quarter valued at about $42,000. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on BMY shares. StockNews.com raised shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Monday, July 29th. UBS Group lifted their price target on shares of Bristol-Myers Squibb from $50.00 to $54.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Cantor Fitzgerald reissued a “neutral” rating and set a $50.00 price target on shares of Bristol-Myers Squibb in a report on Friday, October 18th. Sanford C. Bernstein assumed coverage on shares of Bristol-Myers Squibb in a research note on Thursday, October 17th. They issued a “market perform” rating and a $56.00 target price for the company. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on shares of 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, fourteen have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Bristol-Myers Squibb has a consensus rating of “Hold” and a consensus target price of $53.20.

Bristol-Myers Squibb Trading Up 1.2 %

BMY opened at $52.76 on Wednesday. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.16 and a quick ratio of 1.02. The company has a market cap of $106.95 billion, a price-to-earnings ratio of -17.02, a price-to-earnings-growth ratio of 13.75 and a beta of 0.46. The firm has a 50 day simple moving average of $50.53 and a 200 day simple moving average of $46.35. Bristol-Myers Squibb has a fifty-two week low of $39.35 and a fifty-two week high of $56.77.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings data on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.64 by $0.43. The firm had revenue of $12.20 billion during the quarter, compared to analysts’ expectations of $11.54 billion. Bristol-Myers Squibb had a negative net margin of 14.06% and a positive return on equity of 12.51%. The business’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.75 earnings per share. On average, sell-side analysts anticipate that Bristol-Myers Squibb will post 0.77 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 4th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 4.55%. The ex-dividend date is Friday, October 4th. Bristol-Myers Squibb’s dividend 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.