Cinctive Capital Management LP Takes Position in Bristol-Myers Squibb (NYSE:BMY)

Cinctive Capital Management LP acquired a new position in Bristol-Myers Squibb (NYSE:BMY) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 288,448 shares of the biopharmaceutical company’s stock, valued at approximately $14,924,000. Bristol-Myers Squibb accounts for approximately 0.8% of Cinctive Capital Management LP’s investment portfolio, making the stock its 26th biggest holding.

Several other large investors have also recently bought and sold shares of the stock. Meridian Management Co. raised its position in Bristol-Myers Squibb by 0.6% in the 3rd quarter. Meridian Management Co. now owns 28,283 shares of the biopharmaceutical company’s stock valued at $1,463,000 after buying an additional 182 shares during the last quarter. Hollencrest Capital Management raised its holdings in shares of Bristol-Myers Squibb by 61.3% in the third quarter. Hollencrest Capital Management now owns 492 shares of the biopharmaceutical company’s stock valued at $25,000 after purchasing an additional 187 shares during the last quarter. Mayflower Financial Advisors LLC lifted its position in shares of Bristol-Myers Squibb by 2.3% in the third quarter. Mayflower Financial Advisors LLC now owns 8,466 shares of the biopharmaceutical company’s stock worth $438,000 after purchasing an additional 192 shares in the last quarter. Patriot Financial Group Insurance Agency LLC boosted its holdings in Bristol-Myers Squibb by 3.8% during the third quarter. Patriot Financial Group Insurance Agency LLC now owns 5,595 shares of the biopharmaceutical company’s stock worth $289,000 after purchasing an additional 206 shares during the last quarter. Finally, Legacy Wealth Asset Management LLC grew its position in Bristol-Myers Squibb by 2.1% in the third quarter. Legacy Wealth Asset Management LLC now owns 10,288 shares of the biopharmaceutical company’s stock valued at $532,000 after purchasing an additional 215 shares in the last quarter. Institutional investors and hedge funds own 76.41% of the company’s stock.

Insider Transactions at Bristol-Myers Squibb

In other news, EVP Samit Hirawat acquired 1,830 shares of Bristol-Myers Squibb stock in a transaction on Friday, November 1st. The shares were purchased at an average cost of $54.67 per share, for a total transaction of $100,046.10. Following the completion of the purchase, the executive vice president now directly owns 62,109 shares of the company’s stock, valued at approximately $3,395,499.03. This represents a 3.04 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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 transaction 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. The trade was a 5.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by insiders.

Bristol-Myers Squibb Trading Down 0.1 %

BMY stock opened at $59.22 on Monday. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $61.08. The company has a market capitalization of $120.11 billion, a PE ratio of -16.50, a price-to-earnings-growth ratio of 15.89 and a beta of 0.44. The company’s 50-day simple moving average is $54.61 and its 200 day simple moving average is $48.27. The company has a debt-to-equity ratio of 2.83, a quick ratio of 1.09 and a current ratio of 1.24.

Bristol-Myers Squibb (NYSE:BMY) last announced its earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $11.26 billion. During the same quarter in the prior year, the business posted $2.00 EPS. The business’s revenue was up 8.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Bristol-Myers Squibb will post 0.93 earnings per share 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 4.05%. Bristol-Myers Squibb’s payout ratio is -66.85%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on BMY shares. TD Cowen raised their price objective on Bristol-Myers Squibb from $53.00 to $59.00 and gave the company a “hold” rating in a report on Monday, October 7th. UBS Group boosted their price target on Bristol-Myers Squibb from $50.00 to $54.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Barclays raised their target price on shares of Bristol-Myers Squibb from $42.00 to $43.00 and gave the company an “underweight” rating in a research note on Monday, October 7th. Daiwa America upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 13th. Finally, Morgan Stanley lifted 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, November 12th. Two research 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 company. According to data from MarketBeat, Bristol-Myers Squibb presently has an average rating of “Hold” and an average price target 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.