Bristol-Myers Squibb (NYSE:BMY) Shares Purchased by Clarkston Capital Partners LLC

Clarkston Capital Partners LLC raised its holdings in Bristol-Myers Squibb (NYSE:BMY) by 12.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 46,000 shares of the biopharmaceutical company’s stock after purchasing an additional 5,000 shares during the quarter. Clarkston Capital Partners LLC’s holdings in Bristol-Myers Squibb were worth $2,380,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BMY. Meridian Management Co. grew its position in shares of Bristol-Myers Squibb by 0.6% during the 3rd quarter. Meridian Management Co. now owns 28,283 shares of the biopharmaceutical company’s stock valued at $1,463,000 after acquiring an additional 182 shares during the period. Hollencrest Capital Management increased its stake 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 in the last quarter. Mayflower Financial Advisors LLC lifted its position 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 acquiring an additional 192 shares in the last quarter. Patriot Financial Group Insurance Agency LLC increased its position in shares of Bristol-Myers Squibb by 3.8% during the third quarter. Patriot Financial Group Insurance Agency LLC now owns 5,595 shares of the biopharmaceutical company’s stock worth $289,000 after purchasing an additional 206 shares in the last quarter. Finally, Legacy Wealth Asset Management LLC boosted its stake in Bristol-Myers Squibb by 2.1% during the 3rd quarter. Legacy Wealth Asset Management LLC now owns 10,288 shares of the biopharmaceutical company’s stock worth $532,000 after purchasing an additional 215 shares during the last quarter. 76.41% of the stock is owned by institutional investors and hedge funds.

Bristol-Myers Squibb Trading Down 3.9 %

NYSE BMY opened at $56.22 on Monday. The company has a debt-to-equity ratio of 2.83, a quick ratio of 1.09 and a current ratio of 1.24. The firm has a 50 day simple moving average of $52.73 and a 200-day simple moving average of $47.27. The firm has a market cap of $114.02 billion, a price-to-earnings ratio of -15.66, a PEG ratio of 15.23 and a beta of 0.44. Bristol-Myers Squibb has a one year low of $39.35 and a one year high of $61.08.

Bristol-Myers Squibb (NYSE:BMY) last posted its 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 business had revenue of $11.89 billion during the quarter, compared to the consensus estimate 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 business’s quarterly revenue was up 8.4% on a year-over-year basis. During the same period in the previous year, the business earned $2.00 EPS. 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 paid a $0.60 dividend. The ex-dividend date was Friday, October 4th. This represents a $2.40 dividend on an annualized basis and a yield of 4.27%. Bristol-Myers Squibb’s dividend payout ratio is presently -66.85%.

Analyst Ratings Changes

A number of analysts have commented on the stock. Daiwa Capital Markets upgraded shares of Bristol-Myers Squibb from a “neutral” rating to an “outperform” rating in a report on Wednesday, November 13th. Citigroup lifted their price objective on Bristol-Myers Squibb from $55.00 to $60.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 12th. Wolfe Research began coverage on shares of Bristol-Myers Squibb in a research report on Friday. They set a “peer perform” rating for the company. Barclays boosted their target price on shares of Bristol-Myers Squibb from $42.00 to $43.00 and gave the company an “underweight” rating in a report on Monday, October 7th. Finally, TD Cowen raised their price target on shares of Bristol-Myers Squibb from $53.00 to $59.00 and gave the stock a “hold” rating in a report on Monday, October 7th. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating, two have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $54.07.

Insider Transactions at Bristol-Myers Squibb

In other news, EVP Samit Hirawat acquired 1,830 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were purchased at an average cost of $54.67 per share, for a total transaction 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 represents a 3.04 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Phil M. Holzer sold 700 shares of the company’s 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 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 position. The disclosure for this sale can be found here. Insiders own 0.09% of the company’s stock.

Bristol-Myers Squibb 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.