Bristol-Myers Squibb (NYSE:BMY) Holdings Raised by Cadence Bank

Cadence Bank increased its stake in Bristol-Myers Squibb (NYSE:BMY) by 1.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 171,799 shares of the biopharmaceutical company’s stock after purchasing an additional 2,681 shares during the quarter. Cadence Bank’s holdings in Bristol-Myers Squibb were worth $8,889,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of BMY. Transamerica Financial Advisors Inc. raised its holdings in shares of Bristol-Myers Squibb by 8.7% during the third quarter. Transamerica Financial Advisors Inc. now owns 26,388 shares of the biopharmaceutical company’s stock valued at $1,366,000 after acquiring an additional 2,112 shares during the period. Avestar Capital LLC boosted its position in shares of Bristol-Myers Squibb by 61.1% in the third quarter. Avestar Capital LLC now owns 11,315 shares of the biopharmaceutical company’s stock worth $585,000 after buying an additional 4,293 shares during the period. FMR LLC grew its holdings in shares of Bristol-Myers Squibb by 10.5% during the third quarter. FMR LLC now owns 44,940,609 shares of the biopharmaceutical company’s stock valued at $2,325,227,000 after buying an additional 4,275,787 shares in the last quarter. Summit Financial Wealth Advisors LLC lifted its stake in Bristol-Myers Squibb by 2.4% in the 3rd quarter. Summit Financial Wealth Advisors LLC now owns 9,658 shares of the biopharmaceutical company’s stock worth $500,000 after acquiring an additional 225 shares in the last quarter. Finally, Dai ichi Life Insurance Company Ltd boosted its position in Bristol-Myers Squibb by 308.7% during the 3rd quarter. Dai ichi Life Insurance Company Ltd now owns 66,197 shares of the biopharmaceutical company’s stock worth $3,425,000 after acquiring an additional 50,000 shares during the period. Institutional investors and hedge funds own 76.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on BMY shares. Leerink Partners raised shares of Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $55.00 to $73.00 in a research report on Tuesday, November 12th. Morgan Stanley boosted their target price on Bristol-Myers Squibb from $36.00 to $39.00 and gave the company an “underweight” rating in a research note on Tuesday, November 12th. Daiwa America raised Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 13th. TD Cowen increased their price objective on Bristol-Myers Squibb from $53.00 to $59.00 and gave the stock a “hold” rating in a report on Monday, October 7th. Finally, BMO Capital Markets lifted their price objective on shares of Bristol-Myers Squibb from $57.00 to $61.00 and gave the company a “market perform” rating in a research note on Tuesday, November 12th. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, two have given a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $54.07.

Insiders Place Their Bets

In related news, SVP Phil M. Holzer sold 700 shares of the firm’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 completion of the sale, the senior vice president now directly owns 11,760 shares of the company’s stock, valued at $654,091.20. This trade represents a 5.62 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Samit Hirawat acquired 1,830 shares of Bristol-Myers Squibb stock in a transaction on Friday, November 1st. The stock was acquired at an average cost of $54.67 per share, for a total transaction of $100,046.10. Following the purchase, the executive vice president now owns 62,109 shares of the company’s stock, valued at approximately $3,395,499.03. This represents a 3.04 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.09% of the company’s stock.

Bristol-Myers Squibb Stock Performance

BMY opened at $58.73 on Wednesday. Bristol-Myers Squibb has a 1 year low of $39.35 and a 1 year high of $61.08. The company has a current ratio of 1.24, a quick ratio of 1.09 and a debt-to-equity ratio of 2.83. The stock’s 50 day simple moving average is $54.02 and its 200-day simple moving average is $47.97. The stock has a market cap of $119.11 billion, a PE ratio of -16.36, a P/E/G ratio of 15.79 and a beta of 0.44.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings data 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 company 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%. The company’s revenue was up 8.4% compared to the same quarter last year. During the same period in the prior year, the company posted $2.00 EPS. Sell-side analysts forecast that Bristol-Myers Squibb will post 0.93 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 4th were given 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 4.09%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -66.85%.

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.