Rehmann Capital Advisory Group Buys 3,080 Shares of Bristol-Myers Squibb (NYSE:BMY)

Rehmann Capital Advisory Group boosted its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 13.1% during the first quarter, Holdings Channel reports. The firm owned 26,607 shares of the biopharmaceutical company’s stock after purchasing an additional 3,080 shares during the quarter. Rehmann Capital Advisory Group’s holdings in Bristol-Myers Squibb were worth $1,443,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Northwest Financial Advisors bought a new position in Bristol-Myers Squibb during the fourth quarter valued at approximately $27,000. Accordant Advisory Group Inc bought a new position in Bristol-Myers Squibb in the first quarter worth approximately $31,000. Pacific Capital Wealth Advisors Inc. bought a new position in Bristol-Myers Squibb in the fourth quarter worth approximately $34,000. Turtle Creek Wealth Advisors LLC bought a new position in Bristol-Myers Squibb in the fourth quarter worth approximately $40,000. Finally, Wetzel Investment Advisors Inc. bought a new position in Bristol-Myers Squibb in the fourth quarter worth approximately $40,000. Institutional investors own 76.41% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on BMY. StockNews.com downgraded shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 27th. Wells Fargo & Company increased their price target on shares of Bristol-Myers Squibb from $51.00 to $52.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 18th. William Blair reiterated a “market perform” rating on shares of Bristol-Myers Squibb in a research report on Monday, April 1st. Barclays reduced their price objective on shares of Bristol-Myers Squibb from $51.00 to $43.00 and set an “equal weight” rating for the company in a research note on Friday, April 26th. Finally, BMO Capital Markets reduced their price objective on shares of Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating for the company in a research note on Friday, April 26th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Bristol-Myers Squibb has an average rating of “Hold” and a consensus target price of $60.00.

Bristol-Myers Squibb Price Performance

BMY traded up $0.04 during trading on Wednesday, hitting $40.90. 4,796,011 shares of the company traded hands, compared to its average volume of 15,629,945. The company has a market cap of $82.91 billion, a PE ratio of -13.19, a P/E/G ratio of 13.68 and a beta of 0.44. The stock’s 50-day simple moving average is $42.11 and its two-hundred day simple moving average is $47.56. Bristol-Myers Squibb has a 1 year low of $39.35 and a 1 year high of $65.38. The company has a current ratio of 1.11, a quick ratio of 0.99 and a debt-to-equity ratio of 2.99.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings data on Thursday, April 25th. The biopharmaceutical company reported ($4.40) EPS for the quarter, topping analysts’ consensus estimates of ($4.53) by $0.13. Bristol-Myers Squibb had a negative net margin of 13.50% and a positive return on equity of 8.83%. The business had revenue of $11.87 billion during the quarter, compared to analysts’ expectations of $11.45 billion. During the same period last year, the company posted $2.05 EPS. The business’s revenue was up 4.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Bristol-Myers Squibb will post 0.58 earnings per share for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Friday, July 5th will be paid a $0.60 dividend. The ex-dividend date is Friday, July 5th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 5.87%. Bristol-Myers Squibb’s payout ratio is currently -77.42%.

Bristol-Myers Squibb Company Profile

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.