Bristol-Myers Squibb (NYSE:BMY) Stake Reduced by Investment House LLC

Investment House LLC trimmed its holdings in shares of Bristol-Myers Squibb (NYSE:BMYFree Report) by 28.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 24,863 shares of the biopharmaceutical company’s stock after selling 10,027 shares during the period. Investment House LLC’s holdings in Bristol-Myers Squibb were worth $1,443,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the business. OFI Invest Asset Management acquired a new position in Bristol-Myers Squibb in the 3rd quarter worth about $25,000. Northwest Capital Management Inc acquired a new position in Bristol-Myers Squibb in the 2nd quarter worth about $26,000. True Wealth Design LLC acquired a new position in Bristol-Myers Squibb in the 4th quarter worth about $26,000. Milestone Investment Advisors LLC acquired a new position in Bristol-Myers Squibb in the 3rd quarter worth about $27,000. Finally, Coppell Advisory Solutions LLC acquired a new position in Bristol-Myers Squibb in the 2nd quarter worth about $28,000. 74.98% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Christopher S. Boerner bought 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 5th. The stock was acquired at an average price of $49.78 per share, for a total transaction of $99,560.00. Following the transaction, the chief executive officer now directly owns 82,672 shares of the company’s stock, valued at $4,115,412.16. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Christopher S. Boerner bought 3,071 shares of the business’s stock in a transaction that occurred on Tuesday, November 28th. The stock was acquired at an average price of $48.86 per share, for a total transaction of $150,049.06. Following the transaction, the chief executive officer now directly owns 79,384 shares of the company’s stock, valued at $3,878,702.24. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Christopher S. Boerner bought 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 5th. The shares were bought at an average price of $49.78 per share, with a total value of $99,560.00. Following the transaction, the chief executive officer now directly owns 82,672 shares in the company, valued at $4,115,412.16. The disclosure for this purchase can be found here. In the last quarter, insiders bought 13,571 shares of company stock worth $672,994. 0.08% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages have weighed in on BMY. Cantor Fitzgerald lowered Bristol-Myers Squibb from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $68.00 to $55.00 in a research report on Wednesday, November 15th. UBS Group reissued a “neutral” rating and set a $60.00 price objective (down previously from $70.00) on shares of Bristol-Myers Squibb in a report on Friday, October 20th. HSBC raised Bristol-Myers Squibb from a “reduce” rating to a “hold” rating and lowered their price objective for the company from $55.00 to $53.00 in a report on Friday, October 27th. William Blair lowered Bristol-Myers Squibb from an “outperform” rating to a “market perform” rating in a report on Friday, October 27th. Finally, Daiwa Capital Markets lowered Bristol-Myers Squibb from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $68.00 to $54.00 in a report on Thursday, November 2nd. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $61.17.

Read Our Latest Stock Analysis on BMY

Bristol-Myers Squibb Price Performance

Shares of BMY stock opened at $49.81 on Monday. The stock has a 50 day moving average of $50.52 and a two-hundred day moving average of $54.66. The company has a current ratio of 1.18, a quick ratio of 1.07 and a debt-to-equity ratio of 1.11. Bristol-Myers Squibb has a 12 month low of $47.58 and a 12 month high of $73.47. The company has a market capitalization of $101.35 billion, a P/E ratio of 12.90, a P/E/G ratio of 1.53 and a beta of 0.38.

Bristol-Myers Squibb (NYSE:BMYGet Free Report) last announced its quarterly earnings data on Friday, February 2nd. The biopharmaceutical company reported $1.70 EPS for the quarter, topping analysts’ consensus estimates of $1.55 by $0.15. Bristol-Myers Squibb had a return on equity of 50.33% and a net margin of 17.83%. The company had revenue of $11.48 billion during the quarter, compared to the consensus estimate of $11.19 billion. During the same quarter last year, the company earned $1.82 EPS. The company’s quarterly revenue was up .6% on a year-over-year basis. As a group, equities analysts expect that Bristol-Myers Squibb will post 6.52 EPS for the current year.

Bristol-Myers Squibb announced that its board has authorized a share buyback plan on Thursday, December 7th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the biopharmaceutical company to repurchase up to 2.9% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Bristol-Myers Squibb Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 1st. Shareholders of record on Friday, January 5th were given a $0.60 dividend. The ex-dividend date of this dividend was Thursday, January 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.82%. This is an increase from Bristol-Myers Squibb’s previous quarterly dividend of $0.57. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently 62.18%.

About Bristol-Myers Squibb

(Free Report)

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, an oral inhibitor for reduction in risk of stroke/systemic embolism in NVAF, and for the treatment of DVT/PE; Opdivo for anti-cancer indications; Pomalyst/Imnovid indicated for patients with multiple myeloma; Orencia for adult patients with active RA and psoriatic arthritis; and Sprycel for the treatment of Philadelphia chromosome-positive chronic myeloid leukemia.

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Institutional Ownership by Quarter for Bristol-Myers Squibb (NYSE:BMY)

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