Nisa Investment Advisors LLC trimmed its stake in Bristol-Myers Squibb (NYSE:BMY – Free Report) by 1.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 545,533 shares of the biopharmaceutical company’s stock after selling 9,417 shares during the period. Nisa Investment Advisors LLC’s holdings in Bristol-Myers Squibb were worth $30,855,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in BMY. Reston Wealth Management LLC bought a new stake in Bristol-Myers Squibb during the 3rd quarter worth approximately $25,000. Hollencrest Capital Management grew its holdings in shares of Bristol-Myers Squibb by 61.3% during the third quarter. Hollencrest Capital Management now owns 492 shares of the biopharmaceutical company’s stock worth $25,000 after purchasing an additional 187 shares during the last quarter. Kennebec Savings Bank acquired a new stake in shares of Bristol-Myers Squibb in the third quarter valued at $28,000. Darwin Wealth Management LLC acquired a new position in Bristol-Myers Squibb during the 3rd quarter worth about $29,000. Finally, Valued Wealth Advisors LLC grew its holdings in Bristol-Myers Squibb by 1,168.1% during the 3rd quarter. Valued Wealth Advisors LLC now owns 596 shares of the biopharmaceutical company’s stock worth $31,000 after acquiring an additional 549 shares during the last quarter. 76.41% of the stock is owned by institutional investors.
Analyst Ratings Changes
A number of brokerages have weighed in on BMY. Leerink Partners raised shares of Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $55.00 to $73.00 in a research note 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. Wolfe Research assumed coverage on Bristol-Myers Squibb in a research report on Friday, November 15th. They set a “peer perform” rating for the company. Citigroup raised their price target on Bristol-Myers Squibb from $55.00 to $60.00 and gave the company a “neutral” rating in a report on Tuesday, November 12th. Finally, Barclays boosted 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. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, four have given a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, Bristol-Myers Squibb presently has a consensus rating of “Hold” and an average target price of $56.27.
Insider Transactions at Bristol-Myers Squibb
In other Bristol-Myers Squibb news, EVP Samit Hirawat acquired 1,830 shares of Bristol-Myers Squibb stock in a transaction dated Friday, November 1st. The stock was bought at an average cost of $54.67 per share, for a total transaction of $100,046.10. Following the purchase, the executive vice president now directly owns 62,109 shares in the company, valued at approximately $3,395,499.03. This represents a 3.04 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Phil M. Holzer sold 700 shares of Bristol-Myers Squibb stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $55.62, for a total value of $38,934.00. Following the completion of the sale, the senior vice president now directly owns 11,760 shares in the company, valued at approximately $654,091.20. This represents a 5.62 % decrease in their position. The disclosure for this sale can be found here. 0.09% of the stock is owned by insiders.
Bristol-Myers Squibb Trading Up 0.1 %
NYSE BMY opened at $57.11 on Thursday. The company has a debt-to-equity ratio of 2.83, a current ratio of 1.24 and a quick ratio of 1.09. The stock’s 50-day moving average is $57.42 and its 200-day moving average is $52.33. Bristol-Myers Squibb has a one year low of $39.35 and a one year high of $61.08. The firm has a market cap of $115.83 billion, a P/E ratio of -15.91, a P/E/G ratio of 1.98 and a beta of 0.45.
Bristol-Myers Squibb (NYSE:BMY – Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share for the quarter, beating 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 previous year, the firm posted $2.00 earnings per share. The business’s revenue was up 8.4% on a year-over-year basis. Sell-side analysts anticipate that Bristol-Myers Squibb will post 0.92 earnings per share for the current fiscal year.
Bristol-Myers Squibb Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 3rd will be issued a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.34%. This is a positive change from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Friday, January 3rd. Bristol-Myers Squibb’s payout ratio is -69.08%.
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.
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