Concentric Wealth Management LLC Acquires 3,605 Shares of Bristol-Myers Squibb (NYSE:BMY)

Concentric Wealth Management LLC lifted its holdings in Bristol-Myers Squibb (NYSE:BMY) by 7.1% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 54,695 shares of the biopharmaceutical company’s stock after purchasing an additional 3,605 shares during the quarter. Concentric Wealth Management LLC’s holdings in Bristol-Myers Squibb were worth $2,830,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Harvest Fund Management Co. Ltd bought a new position in Bristol-Myers Squibb in the 3rd quarter worth approximately $133,000. Daiwa Securities Group Inc. raised its position in shares of Bristol-Myers Squibb by 31.1% during the third quarter. Daiwa Securities Group Inc. now owns 330,191 shares of the biopharmaceutical company’s stock worth $17,084,000 after acquiring an additional 78,309 shares during the last quarter. Pekin Hardy Strauss Inc. lifted its stake in shares of Bristol-Myers Squibb by 13.9% during the third quarter. Pekin Hardy Strauss Inc. now owns 29,552 shares of the biopharmaceutical company’s stock valued at $1,529,000 after acquiring an additional 3,600 shares during the period. Summit Trail Advisors LLC boosted its holdings in Bristol-Myers Squibb by 1.8% in the third quarter. Summit Trail Advisors LLC now owns 49,473 shares of the biopharmaceutical company’s stock valued at $2,560,000 after acquiring an additional 894 shares during the last quarter. Finally, SevenBridge Financial Group LLC raised its holdings in Bristol-Myers Squibb by 2.4% during the 3rd quarter. SevenBridge Financial Group LLC now owns 46,991 shares of the biopharmaceutical company’s stock worth $2,431,000 after purchasing an additional 1,093 shares during the last quarter. Institutional investors and hedge funds own 76.41% of the company’s stock.

Insider Buying and Selling

In other Bristol-Myers Squibb news, SVP Phil M. Holzer sold 700 shares of the business’s stock in a transaction dated 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 owns 11,760 shares of the company’s stock, valued at approximately $654,091.20. The trade was a 5.62 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Samit Hirawat purchased 1,830 shares of Bristol-Myers Squibb stock in a transaction dated Friday, November 1st. The stock was bought at an average price of $54.67 per share, for a total transaction of $100,046.10. Following the completion of the purchase, the executive vice president now owns 62,109 shares in the company, valued at $3,395,499.03. This represents a 3.04 % increase in their position. The disclosure for this purchase can be found here. 0.09% of the stock is currently owned by company insiders.

Bristol-Myers Squibb Stock Up 1.1 %

Shares of NYSE BMY opened at $58.87 on Monday. 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 one year low of $39.35 and a one year high of $61.08. The stock’s fifty day moving average price is $53.66 and its two-hundred day moving average price is $47.77.

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, beating the consensus estimate of $1.49 by $0.31. The business had revenue of $11.89 billion during the quarter, compared to analysts’ expectations of $11.26 billion. Bristol-Myers Squibb had a positive return on equity of 11.94% and a negative net margin of 15.30%. The firm’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period in the previous year, the company posted $2.00 earnings per share. On average, sell-side analysts anticipate that Bristol-Myers Squibb will post 0.93 earnings per share for the current year.

Bristol-Myers Squibb Announces Dividend

The business also recently declared 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 dividend on an annualized basis and a yield of 4.08%. The ex-dividend date was Friday, October 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -66.85%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Wolfe Research began coverage on shares of Bristol-Myers Squibb in a research report on Friday, November 15th. They set a “peer perform” rating for the company. Leerink Partners raised Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $55.00 to $73.00 in a research note on Tuesday, November 12th. Jefferies Financial Group raised their target price on Bristol-Myers Squibb from $49.00 to $51.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. Sanford C. Bernstein initiated coverage on shares of Bristol-Myers Squibb in a research note on Thursday, October 17th. They issued a “market perform” rating and a $56.00 target price for the company. Finally, Barclays upped 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. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, two have issued a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $54.07.

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.