Consolidated Portfolio Review Corp Invests $2.38 Million in Bristol-Myers Squibb (NYSE:BMY)

Consolidated Portfolio Review Corp purchased a new stake in shares of Bristol-Myers Squibb (NYSE:BMY) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 42,066 shares of the biopharmaceutical company’s stock, valued at approximately $2,379,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Contravisory Investment Management Inc. purchased a new position in shares of Bristol-Myers Squibb during the fourth quarter worth approximately $488,000. Inspire Trust Co. N.A. raised its position in Bristol-Myers Squibb by 39.0% in the 3rd quarter. Inspire Trust Co. N.A. now owns 103,500 shares of the biopharmaceutical company’s stock worth $5,355,000 after purchasing an additional 29,044 shares during the period. Patriot Financial Group Insurance Agency LLC lifted its stake in Bristol-Myers Squibb by 3.8% in the third quarter. Patriot Financial Group Insurance Agency LLC now owns 5,595 shares of the biopharmaceutical company’s stock worth $289,000 after purchasing an additional 206 shares during the last quarter. Sheaff Brock Investment Advisors LLC grew its stake in shares of Bristol-Myers Squibb by 34.3% during the third quarter. Sheaff Brock Investment Advisors LLC now owns 44,546 shares of the biopharmaceutical company’s stock valued at $2,305,000 after buying an additional 11,387 shares during the last quarter. Finally, iA Global Asset Management Inc. increased its holdings in shares of Bristol-Myers Squibb by 81.3% in the third quarter. iA Global Asset Management Inc. now owns 76,775 shares of the biopharmaceutical company’s stock worth $3,972,000 after buying an additional 34,418 shares during the period. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

BMY has been the topic of several recent research reports. Jefferies Financial Group upgraded Bristol-Myers Squibb from a “hold” rating to a “buy” rating and raised their price target for the stock from $63.00 to $70.00 in a research report on Monday, December 16th. Wolfe Research started coverage on shares of Bristol-Myers Squibb in a research note on Friday, November 15th. They issued a “peer perform” rating on the stock. Leerink Partners raised shares of Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and increased their price target for the company from $55.00 to $73.00 in a research report on Tuesday, November 12th. BMO Capital Markets upped their price objective on shares of Bristol-Myers Squibb from $57.00 to $61.00 and gave the company a “market perform” rating in a research note on Tuesday, November 12th. Finally, Cantor Fitzgerald raised their target price on Bristol-Myers Squibb from $50.00 to $55.00 and gave the stock a “neutral” rating in a research note on Tuesday. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, four have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $57.14.

Bristol-Myers Squibb Stock Down 3.8 %

Shares of Bristol-Myers Squibb stock opened at $57.43 on Friday. Bristol-Myers Squibb has a 1 year low of $39.35 and a 1 year high of $61.10. The company has a debt-to-equity ratio of 2.83, a current ratio of 1.24 and a quick ratio of 1.09. The company has a 50-day moving average of $57.65 and a 200 day moving average of $53.63. The firm has a market cap of $116.47 billion, a price-to-earnings ratio of -16.00, a PEG ratio of 2.10 and a beta of 0.45.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 EPS for the quarter, topping analysts’ consensus estimates of $1.47 by $0.20. Bristol-Myers Squibb had a positive return on equity of 11.94% and a negative net margin of 15.30%. As a group, sell-side analysts anticipate that Bristol-Myers Squibb will post 0.92 earnings per share for the current fiscal year.

Bristol-Myers Squibb Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, January 3rd were given a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 4.32%. The ex-dividend date of this dividend was Friday, January 3rd. This is a positive change from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. Bristol-Myers Squibb’s payout ratio is currently -69.08%.

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.