MFA Wealth Services Buys Shares of 6,360 Bristol-Myers Squibb (NYSE:BMY)

MFA Wealth Services purchased a new stake in Bristol-Myers Squibb (NYSE:BMY) in the 4th quarter, Holdings Channel.com reports. The firm purchased 6,360 shares of the biopharmaceutical company’s stock, valued at approximately $360,000.

Other institutional investors have also modified their holdings of the company. EverSource Wealth Advisors LLC boosted its position in Bristol-Myers Squibb by 14.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 5,695 shares of the biopharmaceutical company’s stock valued at $237,000 after purchasing an additional 703 shares during the period. Public Sector Pension Investment Board grew its position in shares of Bristol-Myers Squibb by 71.2% during the second quarter. Public Sector Pension Investment Board now owns 77,950 shares of the biopharmaceutical company’s stock worth $3,237,000 after acquiring an additional 32,407 shares during the last quarter. Fred Alger Management LLC lifted its position in Bristol-Myers Squibb by 9.9% in the 2nd quarter. Fred Alger Management LLC now owns 41,496 shares of the biopharmaceutical company’s stock valued at $1,723,000 after purchasing an additional 3,726 shares during the last quarter. Armistice Capital LLC bought a new position in Bristol-Myers Squibb in the 2nd quarter worth about $20,386,000. Finally, AQR Capital Management LLC raised its holdings in shares of Bristol-Myers Squibb by 14.0% during the second quarter. AQR Capital Management LLC now owns 2,676,296 shares of the biopharmaceutical company’s stock valued at $111,147,000 after buying an additional 327,824 shares during the last quarter. Institutional investors own 76.41% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Samit Hirawat purchased 1,830 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were bought at an average price 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 in the company, valued at $3,395,499.03. This trade represents a 3.04 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Phil M. Holzer sold 700 shares of the company’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $55.62, for a total transaction 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.09% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on BMY shares. Citigroup raised their target price on Bristol-Myers Squibb from $55.00 to $60.00 and gave the company a “neutral” rating in a research report on Tuesday, November 12th. 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. BMO Capital Markets raised their price objective on shares of Bristol-Myers Squibb from $57.00 to $61.00 and gave the company a “market perform” rating in a research note on Tuesday, November 12th. Cantor Fitzgerald restated a “neutral” rating and issued a $50.00 target price on shares of Bristol-Myers Squibb in a research report on Friday, October 18th. Finally, UBS Group lifted their price target on Bristol-Myers Squibb from $50.00 to $54.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating, four have given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, Bristol-Myers Squibb has an average rating of “Hold” and an average price target of $56.27.

Bristol-Myers Squibb Trading Up 3.6 %

Shares of NYSE BMY opened at $59.15 on Friday. 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 has a one year low of $39.35 and a one year high of $61.08. The business has a 50-day moving average price of $57.39 and a two-hundred day moving average price of $52.36. The firm has a market capitalization of $119.97 billion, a PE ratio of -16.48, a PEG ratio of 2.02 and a beta of 0.45.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings results 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 analysts’ expectations 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 firm’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.00 EPS. As a group, analysts predict that Bristol-Myers Squibb will post 0.92 earnings per share 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 issued a dividend of $0.62 per share. This is a positive change from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. This represents a $2.48 annualized dividend and a yield of 4.19%. The ex-dividend date is Friday, January 3rd. Bristol-Myers Squibb’s dividend payout ratio (DPR) is -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.