Marco Investment Management LLC Has $1.74 Million Position in Bristol-Myers Squibb (NYSE:BMY)

Marco Investment Management LLC decreased its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 8.8% in the 3rd quarter, HoldingsChannel reports. The firm owned 33,638 shares of the biopharmaceutical company’s stock after selling 3,250 shares during the period. Marco Investment Management LLC’s holdings in Bristol-Myers Squibb were worth $1,740,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Pekin Hardy Strauss Inc. lifted its holdings in Bristol-Myers Squibb by 13.9% during the 3rd quarter. Pekin Hardy Strauss Inc. now owns 29,552 shares of the biopharmaceutical company’s stock worth $1,529,000 after purchasing an additional 3,600 shares during the last quarter. Summit Trail Advisors LLC increased its position in Bristol-Myers Squibb by 1.8% during the 3rd quarter. Summit Trail Advisors LLC now owns 49,473 shares of the biopharmaceutical company’s stock worth $2,560,000 after buying an additional 894 shares during the period. SevenBridge Financial Group LLC lifted its holdings in shares of Bristol-Myers Squibb by 2.4% during the third quarter. SevenBridge Financial Group LLC now owns 46,991 shares of the biopharmaceutical company’s stock worth $2,431,000 after buying an additional 1,093 shares in the last quarter. Centaurus Financial Inc. boosted its position in shares of Bristol-Myers Squibb by 21.3% in the third quarter. Centaurus Financial Inc. now owns 10,919 shares of the biopharmaceutical company’s stock valued at $565,000 after acquiring an additional 1,920 shares during the period. Finally, Larson Financial Group LLC grew its stake in shares of Bristol-Myers Squibb by 76.3% in the third quarter. Larson Financial Group LLC now owns 15,461 shares of the biopharmaceutical company’s stock valued at $800,000 after acquiring an additional 6,690 shares in the last quarter. 76.41% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have weighed in on BMY shares. Barclays lifted their price objective on shares of Bristol-Myers Squibb from $42.00 to $43.00 and gave the stock an “underweight” rating in a research note on Monday, October 7th. Wolfe Research initiated coverage on shares of Bristol-Myers Squibb in a research report on Friday, November 15th. They issued a “peer perform” rating for the company. Leerink Partnrs raised Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 12th. Daiwa Capital Markets raised Bristol-Myers Squibb from a “neutral” rating to an “outperform” rating in a report on Wednesday, November 13th. Finally, StockNews.com raised Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Monday, July 29th. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, two have assigned a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $54.07.

Bristol-Myers Squibb Stock Up 1.1 %

BMY stock opened at $58.87 on Friday. The firm has a 50-day moving average price of $53.66 and a 200-day moving average price of $47.74. Bristol-Myers Squibb has a 12 month low of $39.35 and a 12 month high of $61.08. The company has a current ratio of 1.24, a quick ratio of 1.09 and a debt-to-equity ratio of 2.83. The stock has a market capitalization of $119.40 billion, a P/E ratio of -16.40, a price-to-earnings-growth ratio of 15.62 and a beta of 0.44.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported $1.80 EPS for the quarter, beating the consensus estimate 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 firm’s revenue was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.00 EPS. As a group, equities research analysts anticipate that Bristol-Myers Squibb will post 0.93 EPS for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 4th were given 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 yield of 4.08%. Bristol-Myers Squibb’s dividend payout ratio is currently -66.85%.

Insider Buying and Selling at Bristol-Myers Squibb

In other news, SVP Phil M. Holzer sold 700 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the senior vice president now owns 11,760 shares of the company’s stock, valued at $654,091.20. This represents a 5.62 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Samit Hirawat bought 1,830 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The shares were acquired at an average price of $54.67 per share, for a total transaction of $100,046.10. Following the completion of the transaction, the executive vice president now owns 62,109 shares in the company, 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. Corporate insiders own 0.09% of the company’s stock.

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.