Concord Wealth Partners Acquires 9,020 Shares of Bristol-Myers Squibb (NYSE:BMY)

Concord Wealth Partners grew its holdings in Bristol-Myers Squibb (NYSE:BMY) by 41.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 30,639 shares of the biopharmaceutical company’s stock after purchasing an additional 9,020 shares during the quarter. Concord Wealth Partners’ holdings in Bristol-Myers Squibb were worth $1,572,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of BMY. Compagnie Lombard Odier SCmA grew its position in Bristol-Myers Squibb by 459.8% during the 3rd quarter. Compagnie Lombard Odier SCmA now owns 2,435 shares of the biopharmaceutical company’s stock worth $141,000 after purchasing an additional 2,000 shares during the last quarter. Vicus Capital grew its position in Bristol-Myers Squibb by 3.9% during the 3rd quarter. Vicus Capital now owns 4,824 shares of the biopharmaceutical company’s stock worth $280,000 after purchasing an additional 179 shares during the last quarter. Gould Asset Management LLC CA grew its position in Bristol-Myers Squibb by 11.7% during the 3rd quarter. Gould Asset Management LLC CA now owns 9,520 shares of the biopharmaceutical company’s stock worth $553,000 after purchasing an additional 1,000 shares during the last quarter. FinTrust Capital Advisors LLC grew its position in Bristol-Myers Squibb by 5.2% during the 3rd quarter. FinTrust Capital Advisors LLC now owns 55,116 shares of the biopharmaceutical company’s stock worth $3,199,000 after purchasing an additional 2,714 shares during the last quarter. Finally, Mount Vernon Associates Inc. MD boosted its holdings in shares of Bristol-Myers Squibb by 1.5% in the 3rd quarter. Mount Vernon Associates Inc. MD now owns 27,480 shares of the biopharmaceutical company’s stock valued at $1,595,000 after acquiring an additional 411 shares during the last quarter. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Analyst Upgrades and Downgrades

BMY has been the topic of several recent research reports. Barclays dropped their price objective on shares of Bristol-Myers Squibb from $51.00 to $43.00 and set an “equal weight” rating on the stock in a report on Friday, April 26th. Wells Fargo & Company upped their price objective on shares of 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. William Blair reaffirmed a “market perform” rating on shares of Bristol-Myers Squibb in a report on Monday, April 1st. BMO Capital Markets dropped their target price on shares of Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating for the company in a report on Friday, April 26th. Finally, Bank of America lowered shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $68.00 to $60.00 in a report on Wednesday, January 3rd. One equities research 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.com, Bristol-Myers Squibb currently has an average rating of “Hold” and a consensus price target of $60.00.

Bristol-Myers Squibb Stock Up 0.8 %

Bristol-Myers Squibb stock traded up $0.34 during trading on Wednesday, reaching $44.28. The stock had a trading volume of 9,192,391 shares, compared to its average volume of 15,907,468. Bristol-Myers Squibb has a 52-week low of $43.73 and a 52-week high of $69.10. The business has a 50 day moving average price of $50.81 and a 200 day moving average price of $50.93. The company has a quick ratio of 0.99, a current ratio of 1.11 and a debt-to-equity ratio of 2.99. The stock has a market cap of $89.76 billion, a PE ratio of -14.21, a P/E/G ratio of 15.39 and a beta of 0.39.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings data 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. The business had revenue of $11.87 billion during 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 company’s revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.05 EPS. On average, analysts predict that Bristol-Myers Squibb will post 0.58 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Friday, April 5th will be issued 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 5.42%. Bristol-Myers Squibb’s payout ratio is -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.