Legacy Wealth Asset Management LLC Purchases 545 Shares of Bristol-Myers Squibb (NYSE:BMY)

Legacy Wealth Asset Management LLC lifted its position in Bristol-Myers Squibb (NYSE:BMY) by 5.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,860 shares of the biopharmaceutical company’s stock after purchasing an additional 545 shares during the quarter. Legacy Wealth Asset Management LLC’s holdings in Bristol-Myers Squibb were worth $535,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Uncommon Cents Investing LLC lifted its holdings in shares of Bristol-Myers Squibb by 13.9% during the 1st quarter. Uncommon Cents Investing LLC now owns 10,305 shares of the biopharmaceutical company’s stock worth $559,000 after acquiring an additional 1,260 shares during the period. First Trust Direct Indexing L.P. lifted its stake in Bristol-Myers Squibb by 52.1% during the first quarter. First Trust Direct Indexing L.P. now owns 22,320 shares of the biopharmaceutical company’s stock worth $1,210,000 after purchasing an additional 7,649 shares during the period. Cornerstone Wealth Management LLC boosted its holdings in Bristol-Myers Squibb by 6.6% during the first quarter. Cornerstone Wealth Management LLC now owns 15,392 shares of the biopharmaceutical company’s stock valued at $835,000 after purchasing an additional 948 shares in the last quarter. Kovack Advisors Inc. grew its stake in shares of Bristol-Myers Squibb by 32.4% in the 1st quarter. Kovack Advisors Inc. now owns 30,489 shares of the biopharmaceutical company’s stock valued at $1,653,000 after purchasing an additional 7,464 shares during the period. Finally, Hudson Capital Management LLC raised its holdings in shares of Bristol-Myers Squibb by 10.7% in the 1st quarter. Hudson Capital Management LLC now owns 68,494 shares of the biopharmaceutical company’s stock worth $3,714,000 after buying an additional 6,641 shares in the last quarter. 76.41% of the stock is owned by institutional investors.

Bristol-Myers Squibb Stock Performance

Shares of Bristol-Myers Squibb stock opened at $40.06 on Friday. Bristol-Myers Squibb has a 12 month low of $39.63 and a 12 month high of $65.38. The stock’s fifty day simple moving average is $42.37 and its 200 day simple moving average is $47.86. The company has a market capitalization of $81.21 billion, a PE ratio of -12.92, a PEG ratio of 13.71 and a beta of 0.44. The company has a current ratio of 1.11, a quick ratio of 0.99 and a debt-to-equity ratio of 2.99.

Bristol-Myers Squibb (NYSE:BMY) last announced its earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) EPS for the quarter, topping the consensus estimate 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 negative net margin of 13.50% and a positive return on equity of 8.83%. The business’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period last year, the company posted $2.05 EPS. On average, research analysts predict that Bristol-Myers Squibb will post 0.58 EPS for the current year.

Bristol-Myers Squibb Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Friday, July 5th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 5.99%. The ex-dividend date of this dividend is Friday, July 5th. Bristol-Myers Squibb’s dividend payout ratio is -77.42%.

Analysts Set New Price Targets

Several research firms have issued reports on BMY. BMO Capital Markets dropped their price objective on Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating for the company in a research note on Friday, April 26th. StockNews.com lowered shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 27th. Barclays dropped their price objective on shares of Bristol-Myers Squibb from $51.00 to $43.00 and set an “equal weight” rating for the company in a report on Friday, April 26th. Wells Fargo & Company increased their price target on Bristol-Myers Squibb from $51.00 to $52.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 18th. Finally, Societe Generale lowered Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research note on Monday, March 11th. One 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $60.00.

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.