Bellevue Group AG Purchases New Position in Bristol-Myers Squibb (NYSE:BMY)

Bellevue Group AG acquired a new stake in Bristol-Myers Squibb (NYSE:BMY) during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 36,825 shares of the biopharmaceutical company’s stock, valued at approximately $1,905,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Patriot Financial Group Insurance Agency LLC boosted 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 valued at $289,000 after buying an additional 206 shares during the last quarter. Sheaff Brock Investment Advisors LLC lifted its stake in Bristol-Myers Squibb by 34.3% during the 3rd quarter. Sheaff Brock Investment Advisors LLC now owns 44,546 shares of the biopharmaceutical company’s stock valued at $2,305,000 after acquiring an additional 11,387 shares during the period. Nwam LLC purchased a new stake in shares of Bristol-Myers Squibb during the 3rd quarter valued at about $927,000. Graypoint LLC grew its stake in shares of Bristol-Myers Squibb by 29.4% in the third quarter. Graypoint LLC now owns 11,293 shares of the biopharmaceutical company’s stock worth $584,000 after acquiring an additional 2,563 shares during the period. Finally, Xponance Inc. lifted its position in Bristol-Myers Squibb by 8.8% during the second quarter. Xponance Inc. now owns 317,381 shares of the biopharmaceutical company’s stock valued at $13,181,000 after purchasing an additional 25,543 shares during the period. Institutional investors own 76.41% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Samit Hirawat acquired 1,830 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were acquired 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 approximately $3,395,499.03. The trade was a 3.04 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Phil M. Holzer sold 700 shares of the firm’s stock in a transaction on Monday, November 4th. The shares were 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 directly owns 11,760 shares of the company’s stock, valued at approximately $654,091.20. This trade represents a 5.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.09% of the company’s stock.

Bristol-Myers Squibb Price Performance

NYSE:BMY opened at $59.22 on Friday. The stock has a market cap of $120.11 billion, a PE ratio of -16.50, a P/E/G ratio of 15.90 and a beta of 0.44. The company has a quick ratio of 1.09, a current ratio of 1.24 and a debt-to-equity ratio of 2.83. The business’s 50-day simple moving average is $54.61 and its two-hundred day simple moving average is $48.25. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $61.08.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 EPS for the quarter, topping analysts’ consensus estimates 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%. The firm’s revenue was up 8.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.00 EPS. As a group, analysts forecast that Bristol-Myers Squibb will post 0.93 EPS for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 4th were issued 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 4.05%. Bristol-Myers Squibb’s dividend payout ratio is currently -66.85%.

Analyst Ratings Changes

A number of research firms have commented on BMY. TD Cowen boosted their target price on shares of Bristol-Myers Squibb from $53.00 to $59.00 and gave the company a “hold” rating in a research note on Monday, October 7th. Barclays upped their price objective on Bristol-Myers Squibb from $42.00 to $43.00 and gave the company an “underweight” rating in a research report on Monday, October 7th. Daiwa America raised Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 13th. UBS Group upped their price target on shares of Bristol-Myers Squibb from $50.00 to $54.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. Finally, Leerink Partners raised shares of Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $55.00 to $73.00 in a report on Tuesday, November 12th. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, two have assigned a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $54.07.

Bristol-Myers Squibb Company 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.