Bristol-Myers Squibb (NYSE:BMY) Shares Purchased by Opinicus Capital Inc.

Opinicus Capital Inc. boosted its stake in Bristol-Myers Squibb (NYSE:BMY) by 8.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 17,334 shares of the biopharmaceutical company’s stock after buying an additional 1,294 shares during the period. Opinicus Capital Inc.’s holdings in Bristol-Myers Squibb were worth $897,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of BMY. Patriot Financial Group Insurance Agency LLC increased its position in shares of Bristol-Myers Squibb by 3.8% in the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 5,595 shares of the biopharmaceutical company’s stock valued at $289,000 after purchasing an additional 206 shares during the last quarter. Graypoint LLC increased its holdings in Bristol-Myers Squibb by 29.4% during the 3rd quarter. Graypoint LLC now owns 11,293 shares of the biopharmaceutical company’s stock valued at $584,000 after acquiring an additional 2,563 shares in the last quarter. Xponance Inc. grew its holdings in shares of Bristol-Myers Squibb by 8.8% during the second quarter. Xponance Inc. now owns 317,381 shares of the biopharmaceutical company’s stock worth $13,181,000 after buying an additional 25,543 shares in the last quarter. Plato Investment Management Ltd grew its holdings in shares of Bristol-Myers Squibb by 25.4% during the second quarter. Plato Investment Management Ltd now owns 103,954 shares of the biopharmaceutical company’s stock worth $4,317,000 after buying an additional 21,041 shares in the last quarter. Finally, AlTi Global Inc. boosted its position in shares of Bristol-Myers Squibb by 795.6% in the second quarter. AlTi Global Inc. now owns 107,268 shares of the biopharmaceutical company’s stock worth $4,455,000 after acquiring an additional 95,291 shares during the last quarter. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on BMY. Citigroup cut shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $75.00 to $55.00 in a research report on Friday, October 25th. BMO Capital Markets boosted their price objective on shares of Bristol-Myers Squibb from $53.00 to $57.00 and gave the company a “market perform” rating in a research report on Friday, November 1st. Cantor Fitzgerald reissued a “neutral” rating and set a $50.00 price target on shares of Bristol-Myers Squibb in a report on Friday, October 18th. Jefferies Financial Group raised their target price on Bristol-Myers Squibb from $49.00 to $51.00 and gave the company a “hold” rating in a research report on Wednesday, August 28th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating for the company in a research report on Tuesday, July 23rd. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $53.00.

Insider Buying and Selling

In related news, EVP Samit Hirawat purchased 1,830 shares of the stock in a transaction dated Friday, November 1st. The stock was bought at an average cost of $54.67 per share, with a total value of $100,046.10. Following the purchase, the executive vice president now directly owns 62,109 shares in the company, valued at $3,395,499.03. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. In related news, SVP Phil M. Holzer sold 700 shares of the stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $55.62, for a total transaction of $38,934.00. Following the completion of the transaction, the senior vice president now directly owns 11,760 shares of the company’s stock, valued at approximately $654,091.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Samit Hirawat acquired 1,830 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was purchased at an average cost of $54.67 per share, with a total value of $100,046.10. Following the transaction, the executive vice president now owns 62,109 shares in the company, valued at approximately $3,395,499.03. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.09% of the stock is currently owned by insiders.

Bristol-Myers Squibb Stock Performance

Shares of NYSE:BMY traded up $6.26 during trading on Monday, hitting $60.40. 7,278,904 shares of the stock were exchanged, compared to its average volume of 14,362,849. Bristol-Myers Squibb has a 1-year low of $39.35 and a 1-year high of $61.08. The company has a debt-to-equity ratio of 2.83, a quick ratio of 1.09 and a current ratio of 1.24. The company’s fifty day simple moving average is $51.87 and its 200-day simple moving average is $46.78. The company has a market capitalization of $122.50 billion, a price-to-earnings ratio of -16.63, a price-to-earnings-growth ratio of 20.52 and a beta of 0.44.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.49 by $0.31. Bristol-Myers Squibb had a negative net margin of 15.30% and a positive return on equity of 11.94%. The firm had revenue of $11.89 billion during the quarter, compared to the consensus estimate of $11.26 billion. During the same period last year, the firm posted $2.00 EPS. The firm’s quarterly revenue was up 8.4% on a year-over-year basis. Sell-side analysts expect that Bristol-Myers Squibb will post 0.9 EPS for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 4th were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 3.97%. The ex-dividend date was Friday, October 4th. Bristol-Myers Squibb’s dividend payout ratio is -66.85%.

Bristol-Myers Squibb 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.