Tyche Wealth Partners LLC Buys New Shares in Bristol-Myers Squibb (NYSE:BMY)

Tyche Wealth Partners LLC bought a new stake in shares of Bristol-Myers Squibb (NYSE:BMY) during the 4th quarter, Holdings Channel reports. The firm bought 6,797 shares of the biopharmaceutical company’s stock, valued at approximately $349,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Norges Bank purchased a new position in shares of Bristol-Myers Squibb in the fourth quarter valued at about $1,873,696,000. Northern Trust Corp lifted its position in shares of Bristol-Myers Squibb by 5.8% in the third quarter. Northern Trust Corp now owns 25,292,711 shares of the biopharmaceutical company’s stock valued at $1,467,989,000 after acquiring an additional 1,394,158 shares in the last quarter. Moneta Group Investment Advisors LLC lifted its position in shares of Bristol-Myers Squibb by 114,228.7% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 21,469,785 shares of the biopharmaceutical company’s stock valued at $1,544,751,000 after acquiring an additional 21,451,006 shares in the last quarter. Invesco Ltd. lifted its position in shares of Bristol-Myers Squibb by 8.6% in the third quarter. Invesco Ltd. now owns 15,606,587 shares of the biopharmaceutical company’s stock valued at $905,806,000 after acquiring an additional 1,240,902 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Bristol-Myers Squibb by 1.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 11,005,473 shares of the biopharmaceutical company’s stock worth $803,730,000 after buying an additional 197,000 shares in the last quarter. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on BMY shares. Redburn Atlantic downgraded Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $77.00 to $54.00 in a research report on Tuesday, February 6th. Societe Generale downgraded Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research report on Monday, March 11th. Wells Fargo & Company decreased their target price on Bristol-Myers Squibb from $58.00 to $51.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 6th. William Blair reiterated a “market perform” rating on shares of Bristol-Myers Squibb in a research report on Monday, April 1st. Finally, Bank of America cut Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $68.00 to $60.00 in a research note on Wednesday, January 3rd. 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. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $61.12.

Bristol-Myers Squibb Trading Down 0.9 %

BMY opened at $47.83 on Thursday. The stock has a market cap of $96.94 billion, a price-to-earnings ratio of 12.39, a P/E/G ratio of 1.49 and a beta of 0.39. The stock’s 50 day moving average price is $51.26 and its 200-day moving average price is $51.59. Bristol-Myers Squibb has a one year low of $47.58 and a one year high of $70.93. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.31 and a current ratio of 1.43.

Bristol-Myers Squibb (NYSE:BMY) last released its earnings results on Friday, February 2nd. The biopharmaceutical company reported $1.70 EPS for the quarter, beating analysts’ consensus estimates of $1.55 by $0.15. The firm had revenue of $11.48 billion for the quarter, compared to analysts’ expectations of $11.19 billion. Bristol-Myers Squibb had a return on equity of 50.95% and a net margin of 17.83%. The company’s quarterly revenue was up .6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.82 earnings per share. On average, equities analysts forecast that Bristol-Myers Squibb will post 6.47 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 paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 5.02%. Bristol-Myers Squibb’s dividend payout ratio is 62.18%.

Bristol-Myers Squibb Profile

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.