Bristol-Myers Squibb (NYSE:BMY) Stake Boosted by Valley Wealth Managers Inc.

Valley Wealth Managers Inc. boosted its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 0.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 70,755 shares of the biopharmaceutical company’s stock after buying an additional 590 shares during the period. Valley Wealth Managers Inc.’s holdings in Bristol-Myers Squibb were worth $3,661,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of BMY. Reston Wealth Management LLC acquired a new position in shares of Bristol-Myers Squibb in the 3rd quarter valued at about $25,000. Hollencrest Capital Management boosted its position in Bristol-Myers Squibb by 61.3% during the third quarter. Hollencrest Capital Management now owns 492 shares of the biopharmaceutical company’s stock worth $25,000 after purchasing an additional 187 shares during the period. ESL Trust Services LLC bought a new stake in Bristol-Myers Squibb during the first quarter worth approximately $27,000. Kennebec Savings Bank bought a new stake in Bristol-Myers Squibb during the third quarter worth approximately $28,000. Finally, Valued Wealth Advisors LLC boosted its position in Bristol-Myers Squibb by 1,168.1% during the third quarter. Valued Wealth Advisors LLC now owns 596 shares of the biopharmaceutical company’s stock worth $31,000 after purchasing an additional 549 shares during the period. Institutional investors and hedge funds own 76.41% of the company’s stock.

Analyst Upgrades and Downgrades

BMY has been the subject of several research reports. Daiwa America raised Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research report on Wednesday. Wolfe Research assumed coverage on Bristol-Myers Squibb in a research note on Friday. They set a “peer perform” rating for the company. TD Cowen increased their price objective on Bristol-Myers Squibb from $53.00 to $59.00 and gave the stock a “hold” rating in a research note on Monday, October 7th. Morgan Stanley increased their price objective on Bristol-Myers Squibb from $36.00 to $39.00 and gave the stock an “underweight” rating in a research note on Tuesday. Finally, Barclays raised their target price on Bristol-Myers Squibb from $42.00 to $43.00 and gave the company an “underweight” rating in a research note on Monday, October 7th. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating, two have given a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $54.07.

Bristol-Myers Squibb Stock Performance

BMY traded down $1.24 during trading on Friday, hitting $57.26. The stock had a trading volume of 2,134,233 shares, compared to its average volume of 14,377,049. The company has a 50 day moving average price of $52.58 and a 200-day moving average price of $47.15. The firm has a market cap of $116.13 billion, a price-to-earnings ratio of -15.92, a P/E/G ratio of 15.83 and a beta of 0.44. Bristol-Myers Squibb has a one year low of $39.35 and a one year high of $61.08. The company has a debt-to-equity ratio of 2.83, a current ratio of 1.24 and a quick ratio of 1.09.

Bristol-Myers Squibb (NYSE:BMY) last released 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. The business had revenue of $11.89 billion during the quarter, compared to the consensus estimate of $11.26 billion. Bristol-Myers Squibb had a positive return on equity of 11.94% and a negative net margin of 15.30%. The firm’s quarterly revenue was up 8.4% on a year-over-year basis. During the same period in the previous year, the company posted $2.00 EPS. As a group, research analysts predict that Bristol-Myers Squibb will post 0.92 EPS for the current year.

Bristol-Myers Squibb Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 4th were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Friday, October 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.19%. Bristol-Myers Squibb’s payout ratio is -66.85%.

Insider Activity

In other Bristol-Myers Squibb news, SVP Phil M. Holzer sold 700 shares of the company’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $55.62, for a total value of $38,934.00. Following the completion of the transaction, the senior vice president now owns 11,760 shares of the company’s stock, valued at $654,091.20. This represents a 5.62 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Samit Hirawat purchased 1,830 shares of the firm’s 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 owns 62,109 shares of the company’s stock, valued at approximately $3,395,499.03. This trade represents a 3.04 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.09% of the company’s stock.

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.