Bristol-Myers Squibb (NYSE:BMY) Shares Acquired by Pathstone Holdings LLC

Pathstone Holdings LLC increased its stake in Bristol-Myers Squibb (NYSE:BMY) by 2.2% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 188,950 shares of the biopharmaceutical company’s stock after acquiring an additional 4,062 shares during the period. Pathstone Holdings LLC’s holdings in Bristol-Myers Squibb were worth $9,776,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of BMY. Baron Wealth Management LLC acquired a new position in Bristol-Myers Squibb during the third quarter valued at approximately $210,000. New England Asset Management Inc. lifted its position in Bristol-Myers Squibb by 2.9% during the third quarter. New England Asset Management Inc. now owns 46,771 shares of the biopharmaceutical company’s stock valued at $2,420,000 after buying an additional 1,330 shares in the last quarter. OneAscent Wealth Management LLC acquired a new position in Bristol-Myers Squibb during the third quarter valued at approximately $304,000. Meeder Advisory Services Inc. lifted its position in Bristol-Myers Squibb by 7.7% during the third quarter. Meeder Advisory Services Inc. now owns 26,981 shares of the biopharmaceutical company’s stock valued at $1,396,000 after buying an additional 1,929 shares in the last quarter. Finally, Drive Wealth Management LLC lifted its position in Bristol-Myers Squibb by 31.0% during the third quarter. Drive Wealth Management LLC now owns 8,696 shares of the biopharmaceutical company’s stock valued at $450,000 after buying an additional 2,060 shares in the last quarter. 76.41% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Bristol-Myers Squibb news, EVP Samit Hirawat acquired 1,830 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was purchased at an average price of $54.67 per share, with a total value of $100,046.10. Following the completion of the acquisition, 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 legal filing with the SEC, which is accessible through the SEC website. Also, SVP Phil M. Holzer sold 700 shares of Bristol-Myers Squibb stock in a transaction on Monday, November 4th. The stock was sold at an average price of $55.62, for a total transaction of $38,934.00. Following the completion of the transaction, the senior vice president now directly owns 11,760 shares of the company’s stock, 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 currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Leerink Partners raised shares of Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $55.00 to $73.00 in a research report on Tuesday, November 12th. Jefferies Financial Group lifted their price target on shares of Bristol-Myers Squibb from $49.00 to $51.00 and gave the company a “hold” rating in a research report on Wednesday, August 28th. UBS Group lifted their price target on shares of Bristol-Myers Squibb from $50.00 to $54.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. BMO Capital Markets lifted 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. Finally, StockNews.com upgraded shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 29th. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, two have issued a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $54.07.

Bristol-Myers Squibb Stock Down 0.6 %

Shares of NYSE:BMY opened at $57.88 on Thursday. 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 company has a fifty day simple moving average of $53.26 and a 200 day simple moving average of $47.54. The firm has a market cap of $117.39 billion, a PE ratio of -16.12, a price-to-earnings-growth ratio of 15.08 and a beta of 0.44. Bristol-Myers Squibb has a 12-month low of $39.35 and a 12-month high of $61.08.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.49 by $0.31. The business 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 business’s revenue was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.00 earnings per share. On average, equities research analysts anticipate that Bristol-Myers Squibb will post 0.93 EPS for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 4th were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 4.15%. The ex-dividend date of this dividend was Friday, October 4th. Bristol-Myers Squibb’s dividend payout ratio is presently -66.85%.

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.