Valence8 US LP Takes $920,000 Position in Bristol-Myers Squibb (NYSE:BMY)

Valence8 US LP bought a new stake in Bristol-Myers Squibb (NYSE:BMY) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 17,785 shares of the biopharmaceutical company’s stock, valued at approximately $920,000. Bristol-Myers Squibb accounts for about 0.4% of Valence8 US LP’s investment portfolio, making the stock its 14th biggest holding.

A number of other large investors have also added to or reduced their stakes in the company. Reston Wealth Management LLC acquired a new stake in shares of Bristol-Myers Squibb during the third quarter worth approximately $25,000. Hollencrest Capital Management lifted its holdings in Bristol-Myers Squibb by 61.3% during the 3rd quarter. Hollencrest Capital Management now owns 492 shares of the biopharmaceutical company’s stock worth $25,000 after buying an additional 187 shares during the last quarter. Kennebec Savings Bank acquired a new position in shares of Bristol-Myers Squibb in the 3rd quarter worth approximately $28,000. Darwin Wealth Management LLC bought a new stake in shares of Bristol-Myers Squibb in the 3rd quarter valued at approximately $29,000. Finally, Valued Wealth Advisors LLC increased its stake in Bristol-Myers Squibb by 1,168.1% during the third quarter. Valued Wealth Advisors LLC now owns 596 shares of the biopharmaceutical company’s stock valued at $31,000 after purchasing an additional 549 shares during the last quarter. 76.41% of the stock is owned by institutional investors and hedge funds.

Bristol-Myers Squibb Stock Up 0.6 %

BMY stock opened at $58.22 on Friday. The company has a 50 day moving average of $53.46 and a two-hundred day moving average of $47.61. 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 has a 12-month low of $39.35 and a 12-month high of $61.08. The company has a market cap of $118.08 billion, a price-to-earnings ratio of -16.22, a PEG ratio of 15.62 and a beta of 0.44.

Bristol-Myers Squibb (NYSE:BMY) last issued its earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $11.26 billion. During the same period in the prior year, the firm posted $2.00 EPS. The business’s revenue was up 8.4% compared to the same quarter last year. On average, equities analysts anticipate that Bristol-Myers Squibb will post 0.93 earnings per share 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. Investors of record on Friday, October 4th were paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 4.12%. The ex-dividend date of this dividend was Friday, October 4th. Bristol-Myers Squibb’s payout ratio is presently -66.85%.

Analyst Upgrades and Downgrades

BMY has been the subject of a number of recent research reports. Barclays boosted their price objective on shares of Bristol-Myers Squibb from $42.00 to $43.00 and gave the company an “underweight” rating in a research report on Monday, October 7th. UBS Group upped their price objective on Bristol-Myers Squibb from $50.00 to $54.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Leerink Partnrs upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 12th. Daiwa America upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 13th. Finally, Morgan Stanley increased their price objective on Bristol-Myers Squibb from $36.00 to $39.00 and gave the stock an “underweight” rating in a report on Tuesday, November 12th. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating, two have assigned a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $54.07.

Insiders Place Their Bets

In related news, SVP Phil M. Holzer sold 700 shares of Bristol-Myers Squibb stock in a transaction on Monday, November 4th. The shares were sold at an average price of $55.62, for a total value of $38,934.00. Following the transaction, the senior vice president now owns 11,760 shares in the company, valued at $654,091.20. This trade represents a 5.62 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Samit Hirawat purchased 1,830 shares of the firm’s stock in a transaction on Friday, November 1st. The shares were 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 of the company’s stock, valued at approximately $3,395,499.03. This trade represents a 3.04 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.09% of the company’s stock.

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.