Bristol-Myers Squibb (NYSE:BMY) Shares Bought by Swiss National Bank

Swiss National Bank grew its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 0.3% in the third quarter, according to its most recent filing with the SEC. The firm owned 6,016,700 shares of the biopharmaceutical company’s stock after acquiring an additional 15,900 shares during the quarter. Swiss National Bank owned about 0.30% of Bristol-Myers Squibb worth $311,304,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Meridian Management Co. boosted its position in Bristol-Myers Squibb by 0.6% during the 3rd quarter. Meridian Management Co. now owns 28,283 shares of the biopharmaceutical company’s stock worth $1,463,000 after acquiring an additional 182 shares during the period. Hollencrest Capital Management lifted its holdings in shares of Bristol-Myers Squibb by 61.3% in the third quarter. Hollencrest Capital Management now owns 492 shares of the biopharmaceutical company’s stock valued at $25,000 after buying an additional 187 shares during the period. Mayflower Financial Advisors LLC lifted its holdings in shares of Bristol-Myers Squibb by 2.3% in the third quarter. Mayflower Financial Advisors LLC now owns 8,466 shares of the biopharmaceutical company’s stock valued at $438,000 after buying an additional 192 shares during the period. Patriot Financial Group Insurance Agency LLC lifted its holdings in shares of Bristol-Myers Squibb by 3.8% in the third quarter. Patriot Financial Group Insurance Agency LLC now owns 5,595 shares of the biopharmaceutical company’s stock valued at $289,000 after buying an additional 206 shares during the period. Finally, Legacy Wealth Asset Management LLC lifted its holdings in shares of Bristol-Myers Squibb by 2.1% in the third quarter. Legacy Wealth Asset Management LLC now owns 10,288 shares of the biopharmaceutical company’s stock valued at $532,000 after buying an additional 215 shares during the period. Institutional investors and hedge funds own 76.41% of the company’s stock.

Bristol-Myers Squibb Stock Down 3.9 %

NYSE:BMY opened at $56.22 on Friday. Bristol-Myers Squibb has a 1-year low of $39.35 and a 1-year high of $61.08. 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 business’s fifty day moving average price is $52.73 and its 200 day moving average price is $47.25.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.31. The firm had revenue of $11.89 billion for the quarter, compared to analyst estimates of $11.26 billion. Bristol-Myers Squibb had a positive return on equity of 11.94% and a negative net margin of 15.30%. Bristol-Myers Squibb’s quarterly revenue was up 8.4% on a year-over-year basis. During the same period in the previous year, the firm earned $2.00 earnings per share. As a group, equities research analysts expect that Bristol-Myers Squibb will post 0.93 EPS for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 4th were given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 4.27%. The ex-dividend date was Friday, October 4th. Bristol-Myers Squibb’s payout ratio is currently -66.85%.

Insiders Place Their Bets

In other news, EVP Samit Hirawat bought 1,830 shares of the company’s stock in a transaction on Friday, November 1st. The shares were bought at an average cost 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 approximately $3,395,499.03. This trade represents a 3.04 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Phil M. Holzer sold 700 shares of the company’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $55.62, for a total value of $38,934.00. Following the completion of the transaction, the senior vice president now directly owns 11,760 shares in the company, valued at approximately $654,091.20. The trade was 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.

Analyst Upgrades and Downgrades

BMY has been the subject of several research analyst reports. Leerink Partners upgraded Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $55.00 to $73.00 in a report on Tuesday, November 12th. UBS Group upped their price objective on Bristol-Myers Squibb from $50.00 to $54.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. BMO Capital Markets upped their price objective on Bristol-Myers Squibb from $57.00 to $61.00 and gave the company a “market perform” rating in a report on Tuesday, November 12th. TD Cowen upped their price objective on Bristol-Myers Squibb from $53.00 to $59.00 and gave the company a “hold” rating in a report on Monday, October 7th. Finally, StockNews.com raised Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 29th. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, two have issued a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $54.07.

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.