Geneos Wealth Management Inc. Buys 3,560 Shares of Bristol-Myers Squibb (NYSE:BMY)

Geneos Wealth Management Inc. lifted its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 3.9% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 95,955 shares of the biopharmaceutical company’s stock after acquiring an additional 3,560 shares during the period. Geneos Wealth Management Inc.’s holdings in Bristol-Myers Squibb were worth $5,427,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Reston Wealth Management LLC bought a new stake in Bristol-Myers Squibb during the third quarter worth about $25,000. Hollencrest Capital Management raised its holdings in shares of Bristol-Myers Squibb by 61.3% during the 3rd quarter. Hollencrest Capital Management now owns 492 shares of the biopharmaceutical company’s stock valued at $25,000 after buying an additional 187 shares in the last quarter. Kennebec Savings Bank bought a new stake in Bristol-Myers Squibb in the 3rd quarter worth approximately $28,000. Darwin Wealth Management LLC purchased a new stake in Bristol-Myers Squibb in the third quarter worth approximately $29,000. Finally, Valued Wealth Advisors LLC grew 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 valued at $31,000 after acquiring an additional 549 shares during the last quarter. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on BMY shares. Daiwa America raised shares of Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 13th. Truist Financial upped their price target on shares of Bristol-Myers Squibb from $62.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Barclays lifted their price objective on Bristol-Myers Squibb from $42.00 to $43.00 and gave the stock an “underweight” rating in a report on Monday, October 7th. BMO Capital Markets increased their target price on Bristol-Myers Squibb from $57.00 to $61.00 and gave the company a “market perform” rating in a report on Tuesday, November 12th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $50.00 price objective on shares of Bristol-Myers Squibb in a research report on Friday, October 18th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, four have assigned a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, Bristol-Myers Squibb has an average rating of “Hold” and a consensus target price of $56.27.

Insider Activity

In other news, SVP Phil M. Holzer sold 700 shares of the firm’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $55.62, for a total value of $38,934.00. Following the transaction, the senior vice president now directly owns 11,760 shares in the company, valued at $654,091.20. This trade represents a 5.62 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Samit Hirawat bought 1,830 shares of the stock in a transaction on Friday, November 1st. The stock was purchased at an average cost of $54.67 per share, for a total transaction of $100,046.10. Following 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.

Bristol-Myers Squibb Stock Up 0.9 %

Shares of Bristol-Myers Squibb stock opened at $59.68 on Friday. The company has a 50-day simple moving average of $57.47 and a two-hundred day simple moving average of $52.54. Bristol-Myers Squibb has a 52-week low of $39.35 and a 52-week high of $61.08. 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 capitalization of $121.05 billion, a PE ratio of -16.63, a price-to-earnings-growth ratio of 2.02 and a beta of 0.45.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings data 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. Bristol-Myers Squibb had a positive return on equity of 11.94% and a negative net margin of 15.30%. The business had revenue of $11.89 billion for the quarter, compared to analysts’ expectations of $11.26 billion. During the same period in the prior year, the firm posted $2.00 EPS. The firm’s quarterly revenue was up 8.4% on a year-over-year basis. On average, analysts anticipate that Bristol-Myers Squibb will post 0.92 EPS for the current fiscal year.

Bristol-Myers Squibb Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 3rd will be paid a dividend of $0.62 per share. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $2.48 annualized dividend and a yield of 4.16%. This is a boost from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. Bristol-Myers Squibb’s dividend payout ratio is currently -69.08%.

About Bristol-Myers Squibb

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.