Bristol-Myers Squibb (NYSE:BMY) Stake Raised by Good Life Advisors LLC

Good Life Advisors LLC increased its holdings in Bristol-Myers Squibb (NYSE:BMY) by 107.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,262 shares of the biopharmaceutical company’s stock after buying an additional 16,689 shares during the quarter. Good Life Advisors LLC’s holdings in Bristol-Myers Squibb were worth $1,669,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in BMY. ESL Trust Services LLC bought a new position in shares of Bristol-Myers Squibb in the first quarter worth $27,000. LGT Financial Advisors LLC lifted its holdings in Bristol-Myers Squibb by 42.7% in the second quarter. LGT Financial Advisors LLC now owns 759 shares of the biopharmaceutical company’s stock worth $32,000 after purchasing an additional 227 shares during the period. ORG Wealth Partners LLC bought a new position in Bristol-Myers Squibb in the 3rd quarter valued at about $34,000. MFA Wealth Advisors LLC acquired a new position in Bristol-Myers Squibb during the 2nd quarter valued at about $39,000. Finally, Beach Investment Counsel Inc. PA bought a new stake in shares of Bristol-Myers Squibb during the 2nd quarter worth about $42,000. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Bristol-Myers Squibb Trading Down 0.4 %

Bristol-Myers Squibb stock opened at $53.18 on Friday. Bristol-Myers Squibb has a 12 month low of $39.35 and a 12 month high of $57.59. The company has a quick ratio of 1.02, a current ratio of 1.16 and a debt-to-equity ratio of 2.86. The stock has a market cap of $107.80 billion, a P/E ratio of -17.15, a P/E/G ratio of 13.75 and a beta of 0.46. The company’s fifty day simple moving average is $50.23 and its 200-day simple moving average is $46.41.

Bristol-Myers Squibb (NYSE:BMY) last issued its earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 EPS for the quarter, beating analysts’ consensus estimates of $1.64 by $0.43. Bristol-Myers Squibb had a positive return on equity of 12.51% and a negative net margin of 14.06%. The firm had revenue of $12.20 billion for the quarter, compared to the consensus estimate of $11.54 billion. During the same quarter in the previous year, the company posted $1.75 earnings per share. The business’s quarterly revenue was up 8.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Bristol-Myers Squibb will post 0.77 EPS for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 4th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 4.51%. The ex-dividend date is Friday, October 4th. Bristol-Myers Squibb’s payout ratio is presently -77.42%.

Wall Street Analysts Forecast Growth

BMY has been the topic of a number of research analyst reports. BMO Capital Markets reiterated a “market perform” rating and set a $48.00 price objective on shares of Bristol-Myers Squibb in a research note on Monday, September 23rd. Cantor Fitzgerald reiterated a “neutral” rating and set a $50.00 price target on shares of Bristol-Myers Squibb in a research report on Monday, September 16th. 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 research note on Wednesday, August 28th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating on the stock in a research note on Tuesday, July 23rd. Finally, Sanford C. Bernstein assumed coverage on shares of Bristol-Myers Squibb in a research note on Thursday. They set a “market perform” rating and a $56.00 target price for the company. Two 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus 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.