Cetera Investment Advisers Boosts Stake in Bristol Myers Squibb Company (NYSE:BMY)

Cetera Investment Advisers lifted its stake in Bristol Myers Squibb Company (NYSE:BMY) by 4.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 661,731 shares of the biopharmaceutical company’s stock after purchasing an additional 27,622 shares during the period. Cetera Investment Advisers’ holdings in Bristol Myers Squibb were worth $40,359,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Pinney & Scofield Inc. purchased a new stake in Bristol Myers Squibb in the 4th quarter worth $25,000. Park Square Financial Group LLC purchased a new stake in Bristol Myers Squibb in the 4th quarter worth $26,000. Global Wealth Strategies & Associates increased its stake in Bristol Myers Squibb by 137.5% in the 1st quarter. Global Wealth Strategies & Associates now owns 475 shares of the biopharmaceutical company’s stock worth $29,000 after buying an additional 275 shares in the last quarter. Transce3nd LLC purchased a new stake in Bristol Myers Squibb in the 4th quarter worth $28,000. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Bristol Myers Squibb in the 1st quarter worth $31,000. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Bristol Myers Squibb Stock Down 1.0%

Shares of NYSE BMY opened at $48.44 on Friday. The company has a debt-to-equity ratio of 2.65, a current ratio of 1.28 and a quick ratio of 1.17. The company has a market cap of $98.57 billion, a P/E ratio of 18.14, a PEG ratio of 2.53 and a beta of 0.36. Bristol Myers Squibb Company has a 1 year low of $44.00 and a 1 year high of $63.33. The firm has a 50-day simple moving average of $47.67 and a two-hundred day simple moving average of $52.62.

Bristol Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Thursday, April 24th. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.30. The business had revenue of $11.20 billion during the quarter, compared to the consensus estimate of $10.77 billion. Bristol Myers Squibb had a net margin of 11.38% and a return on equity of 87.62%. The firm’s quarterly revenue was down 5.6% compared to the same quarter last year. During the same quarter last year, the firm earned ($4.40) earnings per share. Research analysts anticipate that Bristol Myers Squibb Company will post 6.74 earnings per share for the current year.

Bristol Myers Squibb Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 3rd will be paid a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 5.12%. The ex-dividend date of this dividend is Thursday, July 3rd. Bristol Myers Squibb’s payout ratio is currently 92.88%.

Wall Street Analysts Forecast Growth

Several research firms have commented on BMY. Cantor Fitzgerald reissued a “neutral” rating and set a $55.00 price objective on shares of Bristol Myers Squibb in a report on Tuesday, April 22nd. Piper Sandler began coverage on shares of Bristol Myers Squibb in a report on Tuesday, April 22nd. They set an “overweight” rating and a $65.00 price objective for the company. UBS Group dropped their price objective on shares of Bristol Myers Squibb from $60.00 to $54.00 and set a “neutral” rating for the company in a report on Friday, April 11th. Argus raised shares of Bristol Myers Squibb to a “hold” rating in a report on Friday, April 25th. Finally, Morgan Stanley dropped their price objective on shares of Bristol Myers Squibb from $36.00 to $34.00 and set an “underweight” rating for the company in a report on Thursday, July 10th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, six have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Bristol Myers Squibb presently has an average rating of “Hold” and a consensus price target of $58.53.

Bristol Myers Squibb Company 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.