Sanders Morris Harris LLC Decreases Holdings in Bristol-Myers Squibb (NYSE:BMY)

Sanders Morris Harris LLC reduced its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 5.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 18,137 shares of the biopharmaceutical company’s stock after selling 1,000 shares during the period. Sanders Morris Harris LLC’s holdings in Bristol-Myers Squibb were worth $1,033,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in BMY. Reston Wealth Management LLC bought a new position in Bristol-Myers Squibb during the 3rd quarter worth approximately $25,000. Hollencrest Capital Management boosted its stake in shares of Bristol-Myers Squibb by 61.3% during the third quarter. Hollencrest Capital Management now owns 492 shares of the biopharmaceutical company’s stock valued at $25,000 after purchasing an additional 187 shares during the period. Kennebec Savings Bank bought a new position in shares of Bristol-Myers Squibb in the third quarter worth approximately $28,000. Darwin Wealth Management LLC purchased a new position in shares of Bristol-Myers Squibb in the third quarter worth $29,000. Finally, Valued Wealth Advisors LLC raised its holdings in Bristol-Myers Squibb by 1,168.1% during the 3rd quarter. Valued Wealth Advisors LLC now owns 596 shares of the biopharmaceutical company’s stock valued at $31,000 after buying an additional 549 shares during the last quarter. 76.41% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on BMY shares. Daiwa America raised Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 13th. Wolfe Research assumed coverage on Bristol-Myers Squibb in a research report on Friday, November 15th. They issued a “peer perform” rating on the stock. Barclays raised their price target on Bristol-Myers Squibb from $42.00 to $43.00 and gave the stock an “underweight” rating in a research note on Monday, October 7th. TD Cowen boosted their price objective on shares of Bristol-Myers Squibb from $53.00 to $59.00 and gave the company a “hold” rating in a research report on Monday, October 7th. Finally, BMO Capital Markets raised their target price on shares of Bristol-Myers Squibb from $57.00 to $61.00 and gave the stock a “market perform” rating in a research report on Tuesday, November 12th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating, four have given a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, Bristol-Myers Squibb presently has a consensus rating of “Hold” and an average target price of $56.27.

Bristol-Myers Squibb Trading Down 0.5 %

Bristol-Myers Squibb stock opened at $55.61 on Thursday. Bristol-Myers Squibb has a 12 month low of $39.35 and a 12 month 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 business’s fifty day simple moving average is $57.44 and its two-hundred day simple moving average is $51.76. The company has a market capitalization of $112.79 billion, a price-to-earnings ratio of -15.49, a price-to-earnings-growth ratio of 1.95 and a beta of 0.45.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported $1.80 EPS 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 the consensus estimate of $11.26 billion. Bristol-Myers Squibb had a negative net margin of 15.30% and a positive return on equity of 11.94%. Bristol-Myers Squibb’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same period in the prior year, the firm posted $2.00 EPS. As a group, equities analysts predict that Bristol-Myers Squibb will post 0.93 earnings per share for the current fiscal year.

Bristol-Myers Squibb Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 3rd will be issued a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 4.46%. This is an increase from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. The ex-dividend date is Friday, January 3rd. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -69.08%.

Insider Buying and Selling at Bristol-Myers Squibb

In related news, EVP Samit Hirawat bought 1,830 shares of the business’s stock in a transaction on Friday, November 1st. The stock was acquired at an average price of $54.67 per share, with a total value of $100,046.10. Following the transaction, the executive vice president now owns 62,109 shares in the company, valued at approximately $3,395,499.03. This trade represents a 3.04 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Phil M. Holzer sold 700 shares of the stock in a transaction on Monday, November 4th. The shares were sold at an average price of $55.62, for a total value of $38,934.00. Following the transaction, the senior vice president now directly owns 11,760 shares in the company, valued at $654,091.20. The trade was a 5.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.09% of the company’s stock.

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.