BKM Wealth Management LLC Increases Position in Bristol-Myers Squibb (NYSE:BMY)

BKM Wealth Management LLC lifted its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 151.1% during the first quarter, Holdings Channel reports. The fund owned 4,924 shares of the biopharmaceutical company’s stock after acquiring an additional 2,963 shares during the period. BKM Wealth Management LLC’s holdings in Bristol-Myers Squibb were worth $267,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of BMY. Northwest Financial Advisors purchased a new stake in shares of Bristol-Myers Squibb during the fourth quarter worth $27,000. Pacific Capital Wealth Advisors Inc. purchased a new stake in shares of Bristol-Myers Squibb during the fourth quarter worth $34,000. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Bristol-Myers Squibb during the fourth quarter worth $40,000. Wetzel Investment Advisors Inc. purchased a new stake in shares of Bristol-Myers Squibb during the fourth quarter worth $40,000. Finally, Fairman Group LLC purchased a new stake in shares of Bristol-Myers Squibb during the fourth quarter worth $42,000. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Societe Generale lowered Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research report on Monday, March 11th. Wells Fargo & Company increased their target price on Bristol-Myers Squibb from $51.00 to $52.00 and gave the company an “equal weight” rating in a report on Thursday, April 18th. StockNews.com lowered Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 27th. William Blair reissued a “market perform” rating on shares of Bristol-Myers Squibb in a report on Monday, April 1st. Finally, BMO Capital Markets dropped their target price on Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating on the stock in a report on Friday, April 26th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $60.00.

Bristol-Myers Squibb Price Performance

Shares of BMY opened at $41.30 on Tuesday. Bristol-Myers Squibb has a fifty-two week low of $39.63 and a fifty-two week high of $65.38. The company has a market capitalization of $83.72 billion, a price-to-earnings ratio of -13.32, a price-to-earnings-growth ratio of 14.21 and a beta of 0.44. The firm has a 50-day simple moving average of $42.97 and a 200-day simple moving average of $48.11. The company has a debt-to-equity ratio of 2.99, a quick ratio of 0.99 and a current ratio of 1.11.

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

Bristol-Myers Squibb Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Friday, July 5th will be paid a dividend of $0.60 per share. The ex-dividend date is Friday, July 5th. This represents a $2.40 annualized dividend and a dividend yield of 5.81%. Bristol-Myers Squibb’s dividend payout ratio (DPR) 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.