Exchange Traded Concepts LLC Lowers Position in Bristol-Myers Squibb (NYSE:BMY)

Exchange Traded Concepts LLC reduced its position in Bristol-Myers Squibb (NYSE:BMY) by 14.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 22,583 shares of the biopharmaceutical company’s stock after selling 3,885 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Bristol-Myers Squibb were worth $1,277,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. Algert Global LLC acquired a new position in shares of Bristol-Myers Squibb during the 2nd quarter valued at $328,000. Creative Planning lifted its stake in shares of Bristol-Myers Squibb by 38.8% during the second quarter. Creative Planning now owns 531,970 shares of the biopharmaceutical company’s stock worth $22,093,000 after purchasing an additional 148,588 shares in the last quarter. NewEdge Advisors LLC boosted its position in shares of Bristol-Myers Squibb by 118.5% in the second quarter. NewEdge Advisors LLC now owns 274,740 shares of the biopharmaceutical company’s stock worth $11,410,000 after buying an additional 148,973 shares during the period. Sunbelt Securities Inc. grew its stake in shares of Bristol-Myers Squibb by 87.9% in the second quarter. Sunbelt Securities Inc. now owns 18,943 shares of the biopharmaceutical company’s stock valued at $787,000 after buying an additional 8,863 shares in the last quarter. Finally, William B. Walkup & Associates Inc. purchased a new stake in shares of Bristol-Myers Squibb during the 2nd quarter valued at about $151,000. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on BMY. Daiwa Capital Markets upgraded Bristol-Myers Squibb from a “neutral” rating to an “outperform” rating in a report on Wednesday, November 13th. Jefferies Financial Group raised shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and raised their price target for the company from $63.00 to $70.00 in a report on Monday, December 16th. Daiwa America upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 13th. 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 note on Tuesday, November 12th. Finally, BMO Capital Markets boosted their price target on Bristol-Myers Squibb from $57.00 to $61.00 and gave the stock a “market perform” rating in a research note on Tuesday, November 12th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating, four have issued a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $56.27.

Insider Buying and Selling

In related news, SVP Phil M. Holzer sold 700 shares of the firm’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 sale, the senior vice president now directly owns 11,760 shares in the company, valued at $654,091.20. This trade represents a 5.62 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Samit Hirawat purchased 1,830 shares of Bristol-Myers Squibb stock in a transaction on Friday, November 1st. The shares were acquired at an average price of $54.67 per share, with a total value of $100,046.10. Following 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 disclosure for this purchase can be found here. Corporate insiders own 0.09% of the company’s stock.

Bristol-Myers Squibb Price Performance

Shares of NYSE:BMY opened at $60.61 on Tuesday. The company has a market cap of $122.93 billion, a PE ratio of -16.88, a P/E/G ratio of 2.02 and a beta of 0.45. Bristol-Myers Squibb has a fifty-two week low of $39.35 and a fifty-two week high of $61.10. The firm has a 50-day simple moving average of $57.47 and a 200 day simple moving average of $52.71. 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 posted its 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. Bristol-Myers Squibb had a positive return on equity of 11.94% and a negative net margin of 15.30%. The company had revenue of $11.89 billion during the quarter, compared to analyst estimates of $11.26 billion. During the same period in the prior year, the company earned $2.00 earnings per share. The business’s revenue was up 8.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Bristol-Myers Squibb will post 0.92 EPS for the current 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 given a dividend of $0.62 per share. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $2.48 annualized dividend and a dividend yield of 4.09%. This is a positive change from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. Bristol-Myers Squibb’s dividend payout ratio is currently -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.