Bristol-Myers Squibb (NYSE:BMY) Shares Bought by CIBC Asset Management Inc

CIBC Asset Management Inc increased its stake in Bristol-Myers Squibb (NYSE:BMY) by 9.2% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 368,946 shares of the biopharmaceutical company’s stock after acquiring an additional 30,984 shares during the quarter. CIBC Asset Management Inc’s holdings in Bristol-Myers Squibb were worth $19,089,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. First Foundation Advisors raised its holdings in shares of Bristol-Myers Squibb by 20.1% during the first quarter. First Foundation Advisors now owns 3,270 shares of the biopharmaceutical company’s stock valued at $177,000 after acquiring an additional 548 shares during the period. Nicolet Advisory Services LLC grew its holdings in shares of Bristol-Myers Squibb by 62.5% during the first quarter. Nicolet Advisory Services LLC now owns 12,600 shares of the biopharmaceutical company’s stock valued at $650,000 after buying an additional 4,844 shares in the last quarter. Spirepoint Private Client LLC purchased a new position in Bristol-Myers Squibb during the 1st quarter valued at about $506,000. TIAA Trust National Association increased its stake in shares of Bristol-Myers Squibb by 245.5% in the first quarter. TIAA Trust National Association now owns 419,445 shares of the biopharmaceutical company’s stock worth $22,747,000 after acquiring an additional 298,026 shares during the last quarter. Finally, Acadian Asset Management LLC grew its stake in Bristol-Myers Squibb by 76.1% in the first quarter. Acadian Asset Management LLC now owns 620,324 shares of the biopharmaceutical company’s stock valued at $33,632,000 after purchasing an additional 268,006 shares in the last quarter. 76.41% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Bristol-Myers Squibb news, SVP Phil M. Holzer sold 700 shares of Bristol-Myers Squibb 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 sale, the senior vice president now owns 11,760 shares of the company’s stock, valued at $654,091.20. This trade represents a 5.62 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Samit Hirawat acquired 1,830 shares of Bristol-Myers Squibb stock in a transaction dated Friday, November 1st. The shares were purchased at an average cost of $54.67 per share, with a total value of $100,046.10. Following the completion of the transaction, the executive vice president now directly owns 62,109 shares of the company’s stock, valued at $3,395,499.03. This trade represents a 3.04 % 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 company insiders.

Bristol-Myers Squibb Stock Down 3.9 %

Shares of NYSE BMY opened at $56.22 on Friday. The firm has a 50 day moving average price of $52.58 and a 200 day moving average price of $47.15. 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 stock has a market cap of $114.02 billion, a P/E ratio of -15.66, a P/E/G ratio of 15.83 and a beta of 0.44. Bristol-Myers Squibb has a 52-week low of $39.35 and a 52-week high of $61.08.

Bristol-Myers Squibb (NYSE:BMY) last posted its earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share for the quarter, topping the consensus estimate of $1.49 by $0.31. The firm had revenue of $11.89 billion for the quarter, compared to analyst estimates 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 company’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same period in the previous year, the company posted $2.00 earnings per share. Analysts expect that Bristol-Myers Squibb will post 0.92 EPS for the current year.

Bristol-Myers Squibb Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 4th were issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 4.27%. The ex-dividend date of this dividend was Friday, October 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -66.85%.

Wall Street Analyst Weigh In

BMY has been the topic of several recent research reports. Morgan Stanley raised their price objective on shares of Bristol-Myers Squibb from $36.00 to $39.00 and gave the company an “underweight” rating in a research report on Tuesday. Cantor Fitzgerald reiterated a “neutral” rating and set a $50.00 price target on shares of Bristol-Myers Squibb in a research note on Friday, October 18th. Sanford C. Bernstein assumed coverage on Bristol-Myers Squibb in a report on Thursday, October 17th. They issued a “market perform” rating and a $56.00 target price for the company. Daiwa Capital Markets upgraded shares of Bristol-Myers Squibb from a “neutral” rating to an “outperform” rating in a report on Wednesday. Finally, Leerink Partnrs raised shares of Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research report on Tuesday. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating, two have issued a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $54.07.

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.