Thurston Springer Miller Herd & Titak Inc. Increases Holdings in Bristol-Myers Squibb (NYSE:BMY)

Thurston Springer Miller Herd & Titak Inc. increased its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 28.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,816 shares of the biopharmaceutical company’s stock after purchasing an additional 1,284 shares during the quarter. Thurston Springer Miller Herd & Titak Inc.’s holdings in Bristol-Myers Squibb were worth $329,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. grew its stake in Bristol-Myers Squibb by 1.6% during the second quarter. Envestnet Asset Management Inc. now owns 2,268,887 shares of the biopharmaceutical company’s stock valued at $94,227,000 after acquiring an additional 34,643 shares in the last quarter. Citizens Financial Group Inc. RI grew its position in shares of Bristol-Myers Squibb by 29.7% during the second quarter. Citizens Financial Group Inc. RI now owns 35,203 shares of the biopharmaceutical company’s stock valued at $1,462,000 after purchasing an additional 8,070 shares in the last quarter. Axxcess Wealth Management LLC increased its holdings in shares of Bristol-Myers Squibb by 4.6% in the second quarter. Axxcess Wealth Management LLC now owns 76,958 shares of the biopharmaceutical company’s stock worth $3,196,000 after purchasing an additional 3,404 shares during the last quarter. Wealth Alliance lifted its position in shares of Bristol-Myers Squibb by 13.8% in the second quarter. Wealth Alliance now owns 44,503 shares of the biopharmaceutical company’s stock worth $1,848,000 after buying an additional 5,390 shares in the last quarter. Finally, E Fund Management Co. Ltd. boosted its stake in Bristol-Myers Squibb by 13.2% during the second quarter. E Fund Management Co. Ltd. now owns 7,190 shares of the biopharmaceutical company’s stock valued at $299,000 after buying an additional 840 shares during the last quarter. Institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Stock Performance

BMY stock opened at $55.96 on Thursday. Bristol-Myers Squibb has a twelve month low of $39.35 and a twelve month high of $61.08. The firm has a market cap of $113.50 billion, a price-to-earnings ratio of -15.59, a PEG ratio of 15.20 and a beta of 0.45. The business’s fifty day simple moving average is $57.44 and its two-hundred day simple moving average is $51.76. The company has a quick ratio of 1.09, a current ratio of 1.24 and a debt-to-equity ratio of 2.83.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data 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. The company had revenue of $11.89 billion during the quarter, compared to analyst estimates 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 for the quarter was up 8.4% on a year-over-year basis. During the same quarter last year, the business posted $2.00 EPS. Analysts predict that Bristol-Myers Squibb will post 0.93 earnings per share for the current year.

Bristol-Myers Squibb Increases Dividend

The company also recently disclosed 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 an increase from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. This represents a $2.48 annualized dividend and a yield of 4.43%. The ex-dividend date of this dividend is Friday, January 3rd. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -69.08%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on BMY shares. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $50.00 price objective on shares of Bristol-Myers Squibb in a research note on Friday, October 18th. Morgan Stanley boosted their price target 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. Wolfe Research initiated coverage on shares of Bristol-Myers Squibb in a research report on Friday, November 15th. They set a “peer perform” rating for the company. Citigroup boosted their target price on shares of Bristol-Myers Squibb from $55.00 to $60.00 and gave the stock a “neutral” rating in a report on Tuesday, November 12th. Finally, Leerink Partners raised shares of Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and increased their price target for the company from $55.00 to $73.00 in a 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 given a strong buy rating to the company’s stock. According to MarketBeat, Bristol-Myers Squibb has an average rating of “Hold” and an average target price of $56.27.

Insider Buying and Selling at Bristol-Myers Squibb

In other Bristol-Myers Squibb news, EVP Samit Hirawat purchased 1,830 shares of Bristol-Myers Squibb stock in a transaction dated Friday, November 1st. The stock was acquired at an average price 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 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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Phil M. Holzer sold 700 shares of the stock in a transaction that occurred 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 transaction, the senior vice president now owns 11,760 shares in the company, valued at approximately $654,091.20. This represents a 5.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by corporate insiders.

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.