Bristol-Myers Squibb (NYSE:BMY) Shares Purchased by Castleview Partners LLC

Castleview Partners LLC boosted its position in Bristol-Myers Squibb (NYSE:BMY) by 765.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 49,441 shares of the biopharmaceutical company’s stock after purchasing an additional 43,730 shares during the period. Bristol-Myers Squibb makes up about 1.4% of Castleview Partners LLC’s portfolio, making the stock its 11th largest holding. Castleview Partners LLC’s holdings in Bristol-Myers Squibb were worth $2,558,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. RFG Advisory LLC raised its stake in Bristol-Myers Squibb by 23.4% during the 1st quarter. RFG Advisory LLC now owns 22,234 shares of the biopharmaceutical company’s stock valued at $1,206,000 after purchasing an additional 4,218 shares during the period. Northwest Investment Counselors LLC acquired a new stake in Bristol-Myers Squibb during the 1st quarter valued at $162,000. AdvisorNet Financial Inc raised its stake in Bristol-Myers Squibb by 14.2% during the 1st quarter. AdvisorNet Financial Inc now owns 33,379 shares of the biopharmaceutical company’s stock valued at $1,810,000 after purchasing an additional 4,138 shares during the period. Traynor Capital Management Inc. raised its stake in Bristol-Myers Squibb by 2.8% during the 1st quarter. Traynor Capital Management Inc. now owns 7,672 shares of the biopharmaceutical company’s stock valued at $416,000 after purchasing an additional 207 shares during the period. Finally, Global Assets Advisory LLC acquired a new position in shares of Bristol-Myers Squibb in the first quarter worth $5,161,000. Institutional investors and hedge funds own 76.41% of the company’s stock.

Bristol-Myers Squibb Price Performance

Shares of NYSE BMY traded down $0.73 during mid-day trading on Monday, hitting $52.49. 2,002,805 shares of the stock were exchanged, compared to its average volume of 14,689,503. The company has a market cap of $106.40 billion, a P/E ratio of -17.17, a PEG ratio of 13.75 and a beta of 0.46. The stock’s fifty day simple moving average is $50.36 and its two-hundred day simple moving average is $46.33. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.02 and a current ratio of 1.16. Bristol-Myers Squibb has a twelve month low of $39.35 and a twelve month high of $56.77.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share for the quarter, beating analysts’ consensus estimates of $1.64 by $0.43. The business had revenue of $12.20 billion during the quarter, compared to analyst estimates of $11.54 billion. Bristol-Myers Squibb had a negative net margin of 14.06% and a positive return on equity of 12.51%. Bristol-Myers Squibb’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.75 earnings per share. As a group, 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. Investors of record on Friday, October 4th will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.57%. The ex-dividend date of this dividend is Friday, October 4th. Bristol-Myers Squibb’s dividend payout ratio is currently -77.42%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. TD Cowen upped their price target on shares of Bristol-Myers Squibb from $53.00 to $59.00 and gave the stock a “hold” rating in a research note on Monday, October 7th. StockNews.com upgraded shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Monday, July 29th. Sanford C. Bernstein began coverage on shares of Bristol-Myers Squibb in a report on Thursday. They issued a “market perform” rating and a $56.00 price objective for the company. Barclays upped their price objective on shares of Bristol-Myers Squibb from $42.00 to $43.00 and gave the stock an “underweight” rating in a report on Monday, October 7th. Finally, Jefferies Financial Group upped their price objective on shares of Bristol-Myers Squibb from $49.00 to $51.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $53.20.

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.