Impax Asset Management Group plc Trims Holdings in Bristol-Myers Squibb (NYSE:BMY)

Impax Asset Management Group plc decreased its holdings in Bristol-Myers Squibb (NYSE:BMY) by 1.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 249,072 shares of the biopharmaceutical company’s stock after selling 2,574 shares during the quarter. Impax Asset Management Group plc’s holdings in Bristol-Myers Squibb were worth $12,887,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Oak Harbor Wealth Partners LLC raised its position in Bristol-Myers Squibb by 5.0% during the 3rd quarter. Oak Harbor Wealth Partners LLC now owns 6,535 shares of the biopharmaceutical company’s stock worth $338,000 after buying an additional 312 shares during the last quarter. Neumann Capital Management LLC raised its position in Bristol-Myers Squibb by 1.2% during the 3rd quarter. Neumann Capital Management LLC now owns 20,623 shares of the biopharmaceutical company’s stock worth $1,067,000 after buying an additional 250 shares during the last quarter. Sargent Investment Group LLC purchased a new position in Bristol-Myers Squibb during the 3rd quarter worth $480,000. ING Groep NV raised its position in Bristol-Myers Squibb by 540.6% during the 3rd quarter. ING Groep NV now owns 1,034,653 shares of the biopharmaceutical company’s stock worth $53,533,000 after buying an additional 873,152 shares during the last quarter. Finally, Lifeworks Advisors LLC raised its position in Bristol-Myers Squibb by 11.9% during the 3rd quarter. Lifeworks Advisors LLC now owns 110,083 shares of the biopharmaceutical company’s stock worth $5,696,000 after buying an additional 11,730 shares during the last quarter. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Insider Transactions at Bristol-Myers Squibb

In related news, SVP Phil M. Holzer sold 700 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $55.62, for a total value of $38,934.00. Following the completion of the sale, the senior vice president now directly owns 11,760 shares in the company, valued at approximately $654,091.20. The trade was a 5.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Samit Hirawat bought 1,830 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was bought at an average price of $54.67 per share, with a total value of $100,046.10. Following the completion of the acquisition, the executive vice president now owns 62,109 shares of the company’s stock, valued at $3,395,499.03. This trade represents a 3.04 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.09% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Wolfe Research assumed coverage on shares of Bristol-Myers Squibb in a research report on Friday. They set a “peer perform” rating for the company. Daiwa America upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a report on Wednesday. Leerink Partners upgraded shares of Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and increased their price target for the company from $55.00 to $73.00 in a report on Tuesday. Jefferies Financial Group increased their price target on shares of Bristol-Myers Squibb from $49.00 to $51.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. Finally, Sanford C. Bernstein initiated coverage on shares of Bristol-Myers Squibb in a report on Thursday, October 17th. They issued a “market perform” rating and a $56.00 price target for the company. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, two have issued a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $54.07.

Bristol-Myers Squibb Price Performance

Shares of NYSE BMY opened at $56.22 on Friday. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $61.08. The stock has a market cap of $114.02 billion, a price-to-earnings ratio of -15.81, a PEG ratio of 15.83 and a beta of 0.44. The company’s 50-day moving average price is $52.58 and its 200 day moving average price is $47.15. 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 quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 EPS for the quarter, topping analysts’ consensus estimates 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 negative net margin of 15.30% and a positive return on equity of 11.94%. The company’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.00 earnings per share. As a group, research analysts forecast that Bristol-Myers Squibb will post 0.92 earnings per share for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 4th were issued a dividend of $0.60 per share. The ex-dividend date was Friday, October 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.27%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -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.