Bristol-Myers Squibb (NYSE:BMY) Shares Bought by Corundum Group Inc.

Corundum Group Inc. increased its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 67.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,534 shares of the biopharmaceutical company’s stock after buying an additional 17,596 shares during the period. Bristol-Myers Squibb comprises approximately 0.9% of Corundum Group Inc.’s investment portfolio, making the stock its 28th largest holding. Corundum Group Inc.’s holdings in Bristol-Myers Squibb were worth $2,462,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Seven Eight Capital LP purchased a new stake in shares of Bristol-Myers Squibb during the second quarter worth approximately $392,000. Benjamin F. Edwards & Company Inc. boosted its stake in Bristol-Myers Squibb by 6.0% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 94,911 shares of the biopharmaceutical company’s stock worth $3,941,000 after purchasing an additional 5,382 shares during the last quarter. Bridges Investment Management Inc. grew its holdings in shares of Bristol-Myers Squibb by 15.6% during the second quarter. Bridges Investment Management Inc. now owns 14,600 shares of the biopharmaceutical company’s stock worth $606,000 after buying an additional 1,971 shares in the last quarter. AE Wealth Management LLC raised its position in shares of Bristol-Myers Squibb by 17.2% in the second quarter. AE Wealth Management LLC now owns 108,803 shares of the biopharmaceutical company’s stock valued at $4,519,000 after buying an additional 15,934 shares during the last quarter. Finally, Ameritas Investment Partners Inc. grew its stake in Bristol-Myers Squibb by 0.6% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 55,336 shares of the biopharmaceutical company’s stock valued at $2,298,000 after acquiring an additional 338 shares in the last quarter. Institutional investors and hedge funds own 76.41% of the company’s stock.

Insider Activity

In other news, EVP Samit Hirawat acquired 1,830 shares of the company’s stock in a transaction on Friday, November 1st. The shares were bought 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 3.04 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Phil M. Holzer sold 700 shares of the firm’s stock in a transaction 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 sale, the senior vice president now owns 11,760 shares in the company, 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. Insiders own 0.09% of the company’s stock.

Bristol-Myers Squibb Price Performance

BMY opened at $56.35 on Monday. The stock’s 50-day moving average price is $57.53 and its 200 day moving average price is $52.00. Bristol-Myers Squibb has a 12-month low of $39.35 and a 12-month high of $61.08. The firm has a market cap of $114.30 billion, a price-to-earnings ratio of -15.70, a PEG ratio of 1.95 and a beta of 0.45. 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.31. The business had revenue of $11.89 billion for the quarter, compared to analysts’ expectations 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 business’s quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.00 earnings per share. As a group, sell-side analysts expect that Bristol-Myers Squibb will post 0.93 earnings per share for the current year.

Bristol-Myers Squibb Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 3rd will be given a dividend of $0.62 per share. The ex-dividend date is Friday, January 3rd. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.40%. This is a positive change from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. Bristol-Myers Squibb’s dividend payout ratio is currently -69.08%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on BMY shares. TD Cowen boosted their target price on Bristol-Myers Squibb from $53.00 to $59.00 and gave the stock a “hold” rating in a report on Monday, October 7th. Jefferies Financial Group raised Bristol-Myers Squibb from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $63.00 to $70.00 in a research note on Monday, December 16th. BMO Capital Markets lifted their price target on Bristol-Myers Squibb from $57.00 to $61.00 and gave the stock a “market perform” rating in a report on Tuesday, November 12th. Wolfe Research initiated coverage on shares of Bristol-Myers Squibb in a research report on Friday, November 15th. They set a “peer perform” rating on the stock. Finally, Morgan Stanley raised their price objective on shares of Bristol-Myers Squibb from $36.00 to $39.00 and gave the stock an “underweight” rating in a research report on Tuesday, November 12th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, four have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $56.27.

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.