Clarus Wealth Advisors purchased a new position in Bristol-Myers Squibb Co (NYSE:BMY) in the third quarter, Holdings Channel reports. The fund purchased 11,052 shares of the biopharmaceutical company’s stock, valued at approximately $560,000.
Other institutional investors have also recently modified their holdings of the company. Private Ocean LLC acquired a new stake in Bristol-Myers Squibb during the first quarter worth approximately $28,000. Lenox Wealth Advisors LLC raised its holdings in Bristol-Myers Squibb by 555.7% during the third quarter. Lenox Wealth Advisors LLC now owns 636 shares of the biopharmaceutical company’s stock worth $32,000 after purchasing an additional 539 shares in the last quarter. Endurance Wealth Management Inc. raised its holdings in Bristol-Myers Squibb by 119.6% during the second quarter. Endurance Wealth Management Inc. now owns 918 shares of the biopharmaceutical company’s stock worth $42,000 after purchasing an additional 500 shares in the last quarter. HMS Capital Management LLC acquired a new stake in Bristol-Myers Squibb during the second quarter worth approximately $45,000. Finally, Evolution Wealth Advisors LLC acquired a new stake in Bristol-Myers Squibb during the second quarter worth approximately $50,000. Institutional investors own 80.17% of the company’s stock.
Shares of Bristol-Myers Squibb stock traded up $1.07 during trading on Friday, reaching $51.85. The company’s stock had a trading volume of 906,020 shares, compared to its average volume of 9,791,409. The company has a 50-day moving average price of $49.24 and a two-hundred day moving average price of $47.03. The firm has a market cap of $82.38 billion, a PE ratio of 12.97, a P/E/G ratio of 2.48 and a beta of 0.72. Bristol-Myers Squibb Co has a fifty-two week low of $42.48 and a fifty-two week high of $60.77. The company has a current ratio of 3.88, a quick ratio of 3.75 and a debt-to-equity ratio of 1.51.
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 4th will be issued a $0.41 dividend. The ex-dividend date is Thursday, October 3rd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.16%. Bristol-Myers Squibb’s payout ratio is 41.21%.
BMY has been the topic of a number of research analyst reports. UBS Group cut their price objective on shares of Bristol-Myers Squibb from $55.00 to $51.00 and set a “neutral” rating on the stock in a report on Thursday, June 13th. Bank of America raised their price objective on shares of Bristol-Myers Squibb from $49.00 to $50.00 and gave the stock a “neutral” rating in a report on Thursday. Atlantic Securities raised shares of Bristol-Myers Squibb from a “neutral” rating to an “overweight” rating and set a $63.00 price objective on the stock in a report on Wednesday, August 14th. TheStreet raised shares of Bristol-Myers Squibb from a “c+” rating to a “b-” rating in a report on Wednesday, September 18th. Finally, ValuEngine raised shares of Bristol-Myers Squibb from a “sell” rating to a “hold” rating in a report on Monday. Eight research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $55.81.
In other news, Director Robert J. Bertolini acquired 11,000 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were bought at an average cost of $44.72 per share, with a total value of $491,920.00. Following the purchase, the director now owns 11,397 shares of the company’s stock, valued at approximately $509,673.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.13% of the company’s stock.
Bristol-Myers Squibb Profile
Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. The company offers drugs in oncology, immunoscience, cardiovascular, and fibrotic diseases. The company's products include Opdivo, a biological product for anti-cancer indications; Eliquis, an oral inhibitor targeted at stroke prevention in adult patients with non-valvular atrial fibrillation, and the prevention and treatment of venous thromboembolic disorders; and Orencia, a biological product for adult patients with moderately to severely active RA and prostate-specific antigen, as well as reducing signs and symptoms in certain pediatric patients with moderately to severely active polyarticular juvenile idiopathic arthritis.
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