Pathway Financial Advisers LLC Acquires 429,992 Shares of Bristol-Myers Squibb (NYSE:BMY)

Pathway Financial Advisers LLC raised its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 38,392.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 431,112 shares of the biopharmaceutical company’s stock after buying an additional 429,992 shares during the quarter. Pathway Financial Advisers LLC’s holdings in Bristol-Myers Squibb were worth $22,306,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Legacy Wealth Asset Management LLC grew its position in shares of Bristol-Myers Squibb by 2.1% during the third quarter. Legacy Wealth Asset Management LLC now owns 10,288 shares of the biopharmaceutical company’s stock valued at $532,000 after purchasing an additional 215 shares in the last quarter. Paragon Capital Management LLC grew its holdings in Bristol-Myers Squibb by 1.1% during the 1st quarter. Paragon Capital Management LLC now owns 20,500 shares of the biopharmaceutical company’s stock valued at $1,112,000 after buying an additional 222 shares in the last quarter. OmniStar Financial Group Inc. increased its stake in Bristol-Myers Squibb by 1.7% in the 2nd quarter. OmniStar Financial Group Inc. now owns 13,316 shares of the biopharmaceutical company’s stock worth $553,000 after acquiring an additional 224 shares during the last quarter. LGT Financial Advisors LLC raised its holdings in shares of Bristol-Myers Squibb by 42.7% during the 2nd quarter. LGT Financial Advisors LLC now owns 759 shares of the biopharmaceutical company’s stock worth $32,000 after acquiring an additional 227 shares in the last quarter. Finally, Cassia Capital Partners LLC boosted its position in shares of Bristol-Myers Squibb by 2.9% during the 3rd quarter. Cassia Capital Partners LLC now owns 8,222 shares of the biopharmaceutical company’s stock valued at $425,000 after acquiring an additional 235 shares during the last quarter. Institutional investors own 76.41% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. BMO Capital Markets reaffirmed a “market perform” rating and set a $48.00 price target on shares of Bristol-Myers Squibb in a research note on Monday, September 23rd. Cantor Fitzgerald restated a “neutral” rating and set a $50.00 target price on shares of Bristol-Myers Squibb in a research report on Friday, October 18th. Citigroup lowered Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $75.00 to $55.00 in a research report on Friday. TD Cowen upped their price objective on Bristol-Myers Squibb from $53.00 to $59.00 and gave the company a “hold” rating in a research report on Monday, October 7th. Finally, StockNews.com upgraded Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Monday, July 29th. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating, one has given a buy rating and one has assigned 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 target price of $53.31.

Bristol-Myers Squibb Trading Down 1.9 %

BMY stock traded down $1.00 during mid-day trading on Friday, reaching $51.92. The company had a trading volume of 7,127,425 shares, compared to its average volume of 14,553,149. The company has a market capitalization of $105.25 billion, a PE ratio of -16.75, a price-to-earnings-growth ratio of 13.75 and a beta of 0.46. The firm has a 50 day moving average of $50.75 and a 200 day moving average of $46.44. Bristol-Myers Squibb has a 12 month low of $39.35 and a 12 month high of $55.29. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.16 and a quick ratio of 1.02.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $12.20 billion for the quarter, compared to analysts’ expectations of $11.54 billion. During the same quarter in the prior year, the firm earned $1.75 earnings per share. Bristol-Myers Squibb’s revenue was up 8.7% compared to the same quarter last year. On average, equities analysts predict that Bristol-Myers Squibb will post 0.77 earnings per share for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 4th will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.40 annualized dividend and a dividend yield of 4.62%. Bristol-Myers Squibb’s dividend payout ratio is currently -77.42%.

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.