Modera Wealth Management LLC Purchases 1,359 Shares of Bristol-Myers Squibb (NYSE:BMY)

Modera Wealth Management LLC grew its position in Bristol-Myers Squibb (NYSE:BMY) by 4.7% during the third quarter, Holdings Channel reports. The institutional investor owned 30,557 shares of the biopharmaceutical company’s stock after acquiring an additional 1,359 shares during the quarter. Modera Wealth Management LLC’s holdings in Bristol-Myers Squibb were worth $1,581,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of BMY. Vicus Capital bought a new stake in shares of Bristol-Myers Squibb in the 1st quarter valued at about $210,000. Founders Financial Securities LLC purchased a new position in shares of Bristol-Myers Squibb in the 1st quarter valued at approximately $672,000. BKM Wealth Management LLC raised its position in shares of Bristol-Myers Squibb by 151.1% in the 1st quarter. BKM Wealth Management LLC now owns 4,924 shares of the biopharmaceutical company’s stock valued at $267,000 after purchasing an additional 2,963 shares during the last quarter. Park Place Capital Corp raised its position in shares of Bristol-Myers Squibb by 139.0% in the 1st quarter. Park Place Capital Corp now owns 8,739 shares of the biopharmaceutical company’s stock valued at $474,000 after purchasing an additional 5,083 shares during the last quarter. Finally, Westhampton Capital LLC raised its position in shares of Bristol-Myers Squibb by 63.2% in the 1st quarter. Westhampton Capital LLC now owns 9,667 shares of the biopharmaceutical company’s stock valued at $541,000 after purchasing an additional 3,745 shares during the last quarter. 76.41% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

BMY has been the subject of several research analyst reports. TD Cowen increased their price objective on shares of Bristol-Myers Squibb from $53.00 to $59.00 and gave the company a “hold” rating in a research report on Monday, October 7th. Barclays increased their price objective on shares of Bristol-Myers Squibb from $42.00 to $43.00 and gave the company an “underweight” rating in a research report on Monday, October 7th. Citigroup lowered shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $75.00 to $55.00 in a research report on Friday. StockNews.com raised shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 29th. Finally, Sanford C. Bernstein assumed coverage on shares of Bristol-Myers Squibb in a research report on Thursday, October 17th. They set a “market perform” rating and a $56.00 price target for the company. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Bristol-Myers Squibb presently has an average rating of “Hold” and a consensus target price of $53.57.

Bristol-Myers Squibb Price Performance

NYSE:BMY opened at $51.92 on Monday. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.16 and a quick ratio of 1.02. The firm has a market cap of $105.25 billion, a price-to-earnings ratio of -16.75, a price-to-earnings-growth ratio of 13.75 and a beta of 0.46. The company has a 50 day moving average price of $50.75 and a 200-day moving average price of $46.38. Bristol-Myers Squibb has a 1-year low of $39.35 and a 1-year high of $55.29.

Bristol-Myers Squibb (NYSE:BMY) last posted its earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share for the quarter, beating the consensus estimate of $1.64 by $0.43. The firm had revenue of $12.20 billion during the quarter, compared to analyst estimates of $11.54 billion. Bristol-Myers Squibb had a negative net margin of 14.06% and a positive return on equity of 12.51%. The business’s quarterly revenue was up 8.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.75 EPS. Equities research analysts forecast that Bristol-Myers Squibb will post 0.77 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

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

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.