Newbridge Financial Services Group Inc. Invests $57,000 in Bristol-Myers Squibb (NYSE:BMY)

Newbridge Financial Services Group Inc. bought a new stake in shares of Bristol-Myers Squibb (NYSE:BMY) during the 4th quarter, Holdings Channel.com reports. The institutional investor bought 1,003 shares of the biopharmaceutical company’s stock, valued at approximately $57,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in BMY. AMF Tjanstepension AB lifted its stake in Bristol-Myers Squibb by 6.9% in the 3rd quarter. AMF Tjanstepension AB now owns 610,181 shares of the biopharmaceutical company’s stock worth $31,618,000 after purchasing an additional 39,419 shares in the last quarter. Ritholtz Wealth Management lifted its position in shares of Bristol-Myers Squibb by 81.0% in the third quarter. Ritholtz Wealth Management now owns 23,843 shares of the biopharmaceutical company’s stock worth $1,234,000 after buying an additional 10,669 shares in the last quarter. Exchange Traded Concepts LLC boosted its stake in Bristol-Myers Squibb by 18.1% during the third quarter. Exchange Traded Concepts LLC now owns 26,468 shares of the biopharmaceutical company’s stock valued at $1,369,000 after buying an additional 4,064 shares during the last quarter. Koshinski Asset Management Inc. grew its holdings in Bristol-Myers Squibb by 3.5% during the 3rd quarter. Koshinski Asset Management Inc. now owns 26,568 shares of the biopharmaceutical company’s stock valued at $1,375,000 after buying an additional 904 shares in the last quarter. Finally, Sound Income Strategies LLC increased its stake in Bristol-Myers Squibb by 46.9% in the 3rd quarter. Sound Income Strategies LLC now owns 2,770 shares of the biopharmaceutical company’s stock worth $143,000 after acquiring an additional 885 shares during the last quarter. 76.41% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

BMY has been the subject of a number of recent research reports. Wolfe Research assumed coverage on shares of Bristol-Myers Squibb in a report on Friday, November 15th. They issued a “peer perform” rating for the company. Jefferies Financial Group raised shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $63.00 to $70.00 in a research note on Monday, December 16th. Cantor Fitzgerald upped their target price on shares of Bristol-Myers Squibb from $50.00 to $55.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. Sanford C. Bernstein assumed coverage on Bristol-Myers Squibb in a research note on Thursday, October 17th. They set a “market perform” rating and a $56.00 price objective on the stock. Finally, Daiwa Capital Markets raised Bristol-Myers Squibb from a “neutral” rating to an “outperform” rating in a research note on Wednesday, November 13th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, four have given a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $57.86.

Bristol-Myers Squibb Trading Down 2.4 %

NYSE BMY opened at $55.50 on Tuesday. The stock has a market cap of $112.55 billion, a PE ratio of -12.56, a PEG ratio of 2.13 and a beta of 0.45. Bristol-Myers Squibb has a 12 month low of $39.35 and a 12 month high of $61.10. The company’s 50-day moving average price is $57.56 and its 200-day moving average price is $53.89. The company has a current ratio of 1.24, a quick ratio of 1.09 and a debt-to-equity ratio of 2.83.

Bristol-Myers Squibb (NYSE:BMY) last issued its 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 negative net margin of 18.53% and a positive return on equity of 13.81%. Equities research analysts forecast that Bristol-Myers Squibb will post 6.75 earnings per share for the current year.

Bristol-Myers Squibb Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, January 3rd were given a dividend of $0.62 per share. This is an increase from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend was Friday, January 3rd. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.47%. Bristol-Myers Squibb’s dividend payout ratio is presently -56.11%.

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.