Centric Wealth Management lifted its stake in shares of Bristol-Myers Squibb (NYSE: BMY) by 12.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 6,124 shares of the biopharmaceutical company’s stock after buying an additional 682 shares during the quarter. Centric Wealth Management’s holdings in Bristol-Myers Squibb were worth $380,000 as of its most recent SEC filing.
Bristol-Myers Squibb (NYSE: BMY) Shares Acquired by Centric Wealth Management
Other institutional investors have also added to or reduced their stakes in the company. Perennial Advisors LLC acquired a new position in Bristol-Myers Squibb in the fourth quarter worth $29,000. Founders Capital Management acquired a new position in Bristol-Myers Squibb in the fourth quarter worth $31,000.
Penbrook Management LLC acquired a new position in Bristol-Myers Squibb in the fourth quarter worth $34,000. Baillie Gifford & Co. acquired a new position in Bristol-Myers Squibb in the fourth quarter worth $36,000. Finally, Black Swift Group LLC acquired a new position in Bristol-Myers Squibb in the fourth quarter worth $49,000. 72.41% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE BMY opened at $62.62 on Wednesday. Bristol-Myers Squibb has a fifty-two week low of $47.39 and a fifty-two week high of $67.16. The firm’s 50-day simple moving average is $61.05 and its 200-day simple moving average is $67.35. The company has a quick ratio of 1.58, a current ratio of 1.67, and a debt-to-equity ratio of 0.82. The stock has a market cap of $140.30 billion, a P/E ratio of -569.22, a P/E/G ratio of 1.00, and a beta of 0.67.
Bristol-Myers Squibb (NYSE: BMY)
Issued its quarterly earnings data on Wednesday, February 3rd. The biopharmaceutical company reported $1.46 earnings per share for the quarter, beating analysts’ consensus estimates of $1.42 by $0.04. Bristol-Myers Squibb had a negative net margin of 0.11% and a positive return on equity of 27.48%. The business had revenue of $11.07 billion for the quarter, compared to analysts’ expectations of $10.74 billion. During the same period in the previous year, the business earned $1.22 earnings per share. The company’s revenue was up 39.3% on a year-over-year basis. On average, sell-side analysts anticipate that Bristol-Myers Squibb will post 6.35 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 3rd. Investors of record on Thursday, April 1st will be paid a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.13%. The ex-dividend date is Wednesday, March 31st. Bristol-Myers Squibb’s dividend payout ratio is currently 41.79%.
A number of equities analysts have commented on BMY shares. TheStreet downgraded shares of Bristol-Myers Squibb from a “b” rating to a “c” rating in a report on Monday, March 8th. The Goldman Sachs Group upgraded Bristol-Myers Squibb from a “buy” rating to a “conviction buy” rating in a research note on Tuesday, December 15th. Smith Barney Citigroup raised their target price on Bristol-Myers Squibb from $73.00 to $77.00 in a research note on Monday, November 30th. Finally, Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell raised their target price on Bristol-Myers Squibb from $73.00 to $77.00 in a research note on Monday, November 30th. Four investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. Bristol-Myers Squibb has a consensus rating of “Buy” and an average target price of $74.07.
Bristol-Myers Squibb Company Profile
Bristol-Myers Squibb Company discovers, develops, licenses manufactures, and markets biopharmaceutical products worldwide. The company offers products in hematology, oncology, cardiovascular, and immunology therapeutic classes. Its products include Revlimid, an oral immunomodulatory drug for the treatment of multiple myeloma; Opdivo for anti-cancer indications; Eliquis, an oral inhibitor indicated for the reduction in risk of stroke/systemic embolism in NVAF, and for the treatment of DVT/PE; and Orencia for adult patients with active RA and psoriatic arthritis, as well as reducing signs and symptoms in pediatric patients with active polyarticular juvenile idiopathic arthritis.
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Article Source: The Markets Daily