Pacific Wealth Strategies Group Inc. Buys 758 Shares of Bristol-Myers Squibb (NYSE:BMY)

Pacific Wealth Strategies Group Inc. boosted its stake in Bristol-Myers Squibb (NYSE:BMY) by 4.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,029 shares of the biopharmaceutical company’s stock after purchasing an additional 758 shares during the quarter. Pacific Wealth Strategies Group Inc.’s holdings in Bristol-Myers Squibb were worth $1,126,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BMY. Penserra Capital Management LLC bought a new stake in Bristol-Myers Squibb in the second quarter valued at about $27,000. Horan Securities Inc. increased its holdings in Bristol-Myers Squibb by 217.3% in the second quarter. Horan Securities Inc. now owns 441 shares of the biopharmaceutical company’s stock valued at $29,000 after purchasing an additional 302 shares during the last quarter. PNC Managed Account Solutions Inc. acquired a new position in Bristol-Myers Squibb in the second quarter valued at about $37,000. Regency Capital Management Inc. DE acquired a new position in Bristol-Myers Squibb in the first quarter valued at about $43,000. Finally, Cypress Point Wealth Management LLC acquired a new position in Bristol-Myers Squibb in the second quarter valued at about $48,000. Institutional investors and hedge funds own 72.07% of the company’s stock.

A number of research analysts have issued reports on the company. Morgan Stanley decreased their target price on Bristol-Myers Squibb from $71.00 to $66.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 12th. Argus cut Bristol-Myers Squibb from a “buy” rating to a “hold” rating and set a $49.00 target price for the company. in a research note on Monday, November 1st. Barclays decreased their target price on Bristol-Myers Squibb from $68.00 to $66.00 and set an “equal weight” rating for the company in a research note on Thursday, October 28th. TheStreet raised Bristol-Myers Squibb from a “c+” rating to a “b” rating in a research note on Wednesday, November 17th. Finally, Truist Securities started coverage on Bristol-Myers Squibb in a research report on Wednesday, July 28th. They set a “buy” rating and a $74.00 price objective for the company. Three investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $69.20.

Shares of BMY stock traded down $0.64 on Thursday, hitting $56.81. 17,685,249 shares of the stock were exchanged, compared to its average volume of 10,797,460. The company has a current ratio of 1.47, a quick ratio of 1.36 and a debt-to-equity ratio of 1.06. The firm has a market capitalization of $126.10 billion, a P/E ratio of -23.67, a price-to-earnings-growth ratio of 1.08 and a beta of 0.61. The business has a 50-day moving average of $58.78 and a 200 day moving average of $63.83. Bristol-Myers Squibb has a fifty-two week low of $56.11 and a fifty-two week high of $69.75.

Bristol-Myers Squibb (NYSE:BMY) last released its earnings results on Tuesday, October 26th. The biopharmaceutical company reported $2.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.92 by $0.08. Bristol-Myers Squibb had a positive return on equity of 43.05% and a negative net margin of 11.89%. The business had revenue of $11.62 billion for the quarter, compared to analyst estimates of $11.52 billion. During the same quarter in the prior year, the company posted $1.63 earnings per share. Bristol-Myers Squibb’s revenue was up 10.3% on a year-over-year basis. As a group, research analysts forecast that Bristol-Myers Squibb will post 7.52 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Monday, November 1st. Investors of record on Friday, October 1st were issued a dividend of $0.49 per share. The ex-dividend date was Thursday, September 30th. This represents a $1.96 annualized dividend and a yield of 3.45%. Bristol-Myers Squibb’s payout ratio is presently -81.67%.

In other Bristol-Myers Squibb news, EVP Autenried Paul Von sold 17,353 shares of the company’s stock in a transaction that occurred on Wednesday, November 24th. The stock was sold at an average price of $56.92, for a total value of $987,732.76. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Giovanni Caforio sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, September 20th. The shares were sold at an average price of $60.64, for a total value of $1,516,000.00. The disclosure for this sale can be found here. Insiders have sold 60,716 shares of company stock worth $3,553,545 in the last quarter. 0.11% of the stock is currently owned by corporate insiders.

Bristol-Myers Squibb Company Profile

Bristol Myers Squibb Co engages in the discovery, development, licensing, manufacture, marketing, distribution, and sale of biopharmaceutical products. It offers chemically-synthesized drugs or small molecules and products produced from biological processes called biologics. The company was founded in August 1933 and is headquartered in New York, NY.

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Institutional Ownership by Quarter for Bristol-Myers Squibb (NYSE:BMY)

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