Concord Wealth Partners Grows Stock Position in Bristol-Myers Squibb (NYSE:BMY)

Concord Wealth Partners lifted its stake in Bristol-Myers Squibb (NYSE:BMY) by 41.7% during the 4th quarter, Holdings Channel reports. The institutional investor owned 30,639 shares of the biopharmaceutical company’s stock after buying an additional 9,020 shares during the period. Concord Wealth Partners’ holdings in Bristol-Myers Squibb were worth $1,572,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of BMY. Vicus Capital lifted its stake in shares of Bristol-Myers Squibb by 3.9% during the third quarter. Vicus Capital now owns 4,824 shares of the biopharmaceutical company’s stock worth $280,000 after buying an additional 179 shares during the period. Lindbrook Capital LLC lifted its stake in shares of Bristol-Myers Squibb by 2.3% during the third quarter. Lindbrook Capital LLC now owns 8,060 shares of the biopharmaceutical company’s stock worth $468,000 after buying an additional 182 shares during the period. Addison Advisors LLC lifted its stake in shares of Bristol-Myers Squibb by 6.6% during the third quarter. Addison Advisors LLC now owns 3,120 shares of the biopharmaceutical company’s stock worth $181,000 after buying an additional 192 shares during the period. Symphony Financial Ltd. Co. lifted its stake in shares of Bristol-Myers Squibb by 4.1% during the third quarter. Symphony Financial Ltd. Co. now owns 4,980 shares of the biopharmaceutical company’s stock worth $288,000 after buying an additional 194 shares during the period. Finally, Blue Bell Private Wealth Management LLC raised its holdings in shares of Bristol-Myers Squibb by 61.5% during the third quarter. Blue Bell Private Wealth Management LLC now owns 525 shares of the biopharmaceutical company’s stock worth $30,000 after purchasing an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Stock Performance

Bristol-Myers Squibb stock traded up $0.34 during midday trading on Wednesday, hitting $44.28. 9,192,391 shares of the company’s stock were exchanged, compared to its average volume of 15,907,468. The stock has a market cap of $89.76 billion, a price-to-earnings ratio of -14.21, a price-to-earnings-growth ratio of 15.39 and a beta of 0.39. The firm’s 50 day simple moving average is $50.81 and its 200 day simple moving average is $50.93. The company has a debt-to-equity ratio of 2.99, a quick ratio of 0.99 and a current ratio of 1.11. Bristol-Myers Squibb has a 12-month low of $43.73 and a 12-month high of $69.10.

Bristol-Myers Squibb (NYSE:BMY) last issued its earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share for the quarter, beating the consensus estimate of ($4.53) by $0.13. The business had revenue of $11.87 billion for 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 business’s quarterly 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 earnings per share. Equities research analysts predict that Bristol-Myers Squibb will post 0.58 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

The company 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. This represents a $2.40 annualized dividend and a dividend yield of 5.42%. The ex-dividend date is Thursday, April 4th. Bristol-Myers Squibb’s payout ratio is -77.42%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on BMY shares. Bank of America cut shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and cut their price objective for the company from $68.00 to $60.00 in a report on Wednesday, January 3rd. Societe Generale cut shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a report on Monday, March 11th. BMO Capital Markets cut their price objective 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. Wells Fargo & Company lifted their target price on shares of Bristol-Myers Squibb from $51.00 to $52.00 and gave the company an “equal weight” rating in a research report on Thursday, April 18th. Finally, Redburn Atlantic lowered shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and dropped their target price for the company from $77.00 to $54.00 in a research report on Tuesday, February 6th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $60.00.

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.