L & S Advisors Inc Takes $231,000 Position in Bristol-Myers Squibb (NYSE:BMY)

L & S Advisors Inc bought a new position in shares of Bristol-Myers Squibb (NYSE:BMY) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 4,463 shares of the biopharmaceutical company’s stock, valued at approximately $231,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Price T Rowe Associates Inc. MD grew its stake in Bristol-Myers Squibb by 77.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,547,823 shares of the biopharmaceutical company’s stock worth $680,469,000 after buying an additional 5,461,767 shares during the last quarter. Federated Hermes Inc. increased its holdings in shares of Bristol-Myers Squibb by 86.3% during the second quarter. Federated Hermes Inc. now owns 7,546,311 shares of the biopharmaceutical company’s stock valued at $313,398,000 after acquiring an additional 3,495,704 shares in the last quarter. Jennison Associates LLC raised its position in shares of Bristol-Myers Squibb by 420.1% in the 3rd quarter. Jennison Associates LLC now owns 4,241,255 shares of the biopharmaceutical company’s stock valued at $219,443,000 after purchasing an additional 3,425,789 shares during the last quarter. Swedbank AB acquired a new stake in Bristol-Myers Squibb in the 1st quarter worth approximately $158,223,000. Finally, State of Michigan Retirement System grew its position in Bristol-Myers Squibb by 147.7% during the 2nd quarter. State of Michigan Retirement System now owns 4,767,133 shares of the biopharmaceutical company’s stock worth $197,979,000 after purchasing an additional 2,842,400 shares during the last quarter. Institutional investors own 76.41% of the company’s stock.

Insider Transactions at Bristol-Myers Squibb

In other Bristol-Myers Squibb 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 value 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Samit Hirawat acquired 1,830 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was purchased at an average cost of $54.67 per share, with a total value of $100,046.10. Following the acquisition, the executive vice president now directly owns 62,109 shares of the company’s stock, valued at $3,395,499.03. This trade 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 Price Performance

Shares of NYSE BMY opened at $58.22 on Friday. 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 market cap of $118.08 billion, a PE ratio of -16.22, a PEG ratio of 15.62 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. The firm has a fifty day moving average of $53.46 and a 200 day moving average of $47.61.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.31. The company had revenue of $11.89 billion for 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%. Bristol-Myers Squibb’s revenue was up 8.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.00 EPS. As a group, research analysts predict that Bristol-Myers Squibb will post 0.93 EPS for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 4th were paid a dividend of $0.60 per share. The ex-dividend date was Friday, October 4th. This represents a $2.40 annualized dividend and a yield of 4.12%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -66.85%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on BMY shares. TD Cowen lifted their price objective on shares of Bristol-Myers Squibb from $53.00 to $59.00 and gave the stock a “hold” rating in a research note on Monday, October 7th. Leerink Partnrs raised Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 12th. Sanford C. Bernstein started coverage on Bristol-Myers Squibb in a report on Thursday, October 17th. They issued a “market perform” rating and a $56.00 price objective on the stock. UBS Group lifted their price objective on shares of Bristol-Myers Squibb from $50.00 to $54.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. Finally, Daiwa Capital Markets raised shares of Bristol-Myers Squibb from a “neutral” rating to an “outperform” rating in a report on Wednesday, November 13th. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating, two have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, Bristol-Myers Squibb has an average 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.