Prio Wealth Limited Partnership Has $1.25 Million Holdings in Bristol-Myers Squibb (NYSE:BMY)

Prio Wealth Limited Partnership lessened its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 2.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 29,973 shares of the biopharmaceutical company’s stock after selling 856 shares during the quarter. Prio Wealth Limited Partnership’s holdings in Bristol-Myers Squibb were worth $1,245,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Heritage Wealth Management Inc. bought a new stake in shares of Bristol-Myers Squibb during the second quarter worth approximately $369,000. Sanctuary Advisors LLC bought a new stake in shares of Bristol-Myers Squibb during the second quarter worth approximately $7,935,000. Strategic Investment Solutions Inc. IL bought a new stake in shares of Bristol-Myers Squibb during the second quarter worth approximately $55,000. Birmingham Capital Management Co. Inc. AL boosted its holdings in shares of Bristol-Myers Squibb by 3.2% during the second quarter. Birmingham Capital Management Co. Inc. AL now owns 45,141 shares of the biopharmaceutical company’s stock worth $1,875,000 after acquiring an additional 1,416 shares during the period. Finally, New Century Financial Group LLC boosted its holdings in shares of Bristol-Myers Squibb by 1.4% during the second quarter. New Century Financial Group LLC now owns 21,234 shares of the biopharmaceutical company’s stock worth $882,000 after acquiring an additional 296 shares during the period. Institutional investors and hedge funds own 76.41% of the company’s stock.

Analyst Upgrades and Downgrades

BMY has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft reduced their price objective on Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating for the company in a report on Tuesday, July 23rd. Jefferies Financial Group boosted their price objective on Bristol-Myers Squibb from $49.00 to $51.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. BMO Capital Markets reiterated a “market perform” rating and issued a $48.00 price target on shares of Bristol-Myers Squibb in a research note on Monday, September 23rd. Cantor Fitzgerald reiterated a “neutral” rating and issued a $50.00 price target on shares of Bristol-Myers Squibb in a research note on Monday, September 16th. Finally, TD Cowen boosted their price target on Bristol-Myers Squibb from $45.00 to $53.00 and gave the company a “hold” rating in a research note on Monday, August 12th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $55.00.

Bristol-Myers Squibb Stock Up 1.6 %

Shares of BMY opened at $53.76 on Thursday. Bristol-Myers Squibb has a one year low of $39.35 and a one year high of $58.05. The company has a market cap of $108.98 billion, a P/E ratio of -17.34, a P/E/G ratio of 12.96 and a beta of 0.46. 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 firm has a 50 day simple moving average of $49.09 and a two-hundred day simple moving average of $46.33.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Friday, July 26th. The biopharmaceutical company reported $2.07 EPS for the quarter, beating the consensus estimate of $1.64 by $0.43. The business had revenue of $12.20 billion during the quarter, compared to the consensus estimate 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 company’s revenue was up 8.7% on a year-over-year basis. During the same period in the previous year, the business earned $1.75 earnings per share. Research analysts forecast that Bristol-Myers Squibb will post 0.77 EPS for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 4th will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.40 annualized dividend and a dividend yield of 4.46%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -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.