VCI Wealth Management LLC Makes New $1.80 Million Investment in Bristol Myers Squibb Company $BMY

VCI Wealth Management LLC bought a new stake in Bristol Myers Squibb Company (NYSE:BMY) during the third quarter, Holdings Channel reports. The institutional investor bought 28,809 shares of the biopharmaceutical company’s stock, valued at approximately $1,798,000.

Several other hedge funds also recently bought and sold shares of BMY. Davis Asset Management L.P. purchased a new stake in shares of Bristol Myers Squibb during the 2nd quarter worth about $27,000. Addison Advisors LLC acquired a new stake in shares of Bristol Myers Squibb during the 2nd quarter valued at about $32,000. Groupe la Francaise grew its stake in shares of Bristol Myers Squibb by 562.9% in the 2nd quarter. Groupe la Francaise now owns 590 shares of the biopharmaceutical company’s stock valued at $33,000 after buying an additional 501 shares in the last quarter. Arlington Trust Co LLC bought a new stake in shares of Bristol Myers Squibb in the 2nd quarter valued at approximately $35,000. Finally, Kilter Group LLC bought a new stake in shares of Bristol Myers Squibb in the 2nd quarter valued at approximately $35,000. 76.41% of the stock is owned by institutional investors and hedge funds.

Bristol Myers Squibb Price Performance

Shares of NYSE:BMY opened at $62.95 on Tuesday. Bristol Myers Squibb Company has a fifty-two week low of $45.26 and a fifty-two week high of $68.64. The business has a 50-day moving average of $62.71 and a two-hundred day moving average of $59.97. The stock has a market capitalization of $128.59 billion, a P/E ratio of 13.96, a P/E/G ratio of 0.31 and a beta of 0.19. The company has a debt-to-equity ratio of 1.89, a current ratio of 1.53 and a quick ratio of 1.38.

Bristol Myers Squibb (NYSE:BMY) last issued its quarterly earnings data on Thursday, October 29th. The biopharmaceutical company reported $1.35 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.25. Bristol Myers Squibb had a return on equity of 66.90% and a net margin of 18.87%. The business had revenue of $13.07 billion for the quarter, compared to analyst estimates of $12.72 billion. During the same quarter in the prior year, the firm posted $1.63 EPS. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. On average, equities research analysts predict that Bristol Myers Squibb Company will post 6.40 EPS for the current fiscal year.

Bristol Myers Squibb Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, November 2nd. Shareholders of record on Friday, October 2nd were issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 4.0%. The ex-dividend date was Friday, October 2nd. Bristol Myers Squibb’s dividend payout ratio (DPR) is 55.88%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on BMY. Weiss Ratings raised shares of Bristol Myers Squibb from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, August 18th. TD Cowen began coverage on shares of Bristol Myers Squibb in a research note on Wednesday, August 5th. They issued a “buy” rating for the company. Roth Capital assumed coverage on shares of Bristol Myers Squibb in a research report on Wednesday, August 5th. They issued a “buy” rating and a $75.00 target price for the company. Rothschild & Co Redburn increased their price target on shares of Bristol Myers Squibb from $51.00 to $53.00 and gave the stock a “neutral” rating in a research note on Thursday, October 8th. Finally, JPMorgan Chase & Co. increased their price target on shares of Bristol Myers Squibb from $67.00 to $73.00 and gave the stock an “overweight” rating in a research note on Friday, July 31st. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, sixteen have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $65.46.

Insider Buying and Selling

In other news, SVP Phil M. Holzer sold 500 shares of Bristol Myers Squibb stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $67.50, for a total value of $33,750.00. Following the transaction, the senior vice president owned 16,862 shares of the company’s stock, valued at $1,138,185. This trade represents a 2.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.05% of the stock is currently owned by company insiders.

Bristol Myers Squibb Company Profile

Bristol Myers Squibb (NYSE:BMY) is a global biopharmaceutical company focused on discovering, developing and commercializing medicines for serious diseases. Its research and development activities span oncology, hematology, immunology, cardiovascular disease, neuroscience and other specialty areas.

The company’s portfolio includes oncology medicines such as Opdivo, Yervoy, Abraxane, Sprycel and Pomalyst, as well as Eliquis, an anticoagulant developed in partnership with Pfizer. Bristol Myers Squibb also markets immunology and neuroscience products, including Orencia and Sotyktu, and continues to invest in therapies based on biologics, cell therapy and other advanced treatment approaches.

Bristol Myers Squibb traces its roots to pharmaceutical businesses founded by Bristol-Myers in 1881 and E.R.