MONECO Advisors LLC Boosts Stake in Bristol-Myers Squibb (NYSE:BMY)

MONECO Advisors LLC raised its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 97.6% in the 4th quarter, Holdings Channel reports. The institutional investor owned 16,823 shares of the biopharmaceutical company’s stock after purchasing an additional 8,311 shares during the quarter. MONECO Advisors LLC’s holdings in Bristol-Myers Squibb were worth $952,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Reston Wealth Management LLC purchased a new stake in shares of Bristol-Myers Squibb during the third quarter valued at $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 in the last quarter. Kennebec Savings Bank purchased a new position in shares of Bristol-Myers Squibb in the 3rd quarter valued at $28,000. Darwin Wealth Management LLC purchased a new position in Bristol-Myers Squibb in the third quarter valued at about $29,000. Finally, Valued Wealth Advisors LLC grew its position in shares of Bristol-Myers Squibb by 1,168.1% in the 3rd quarter. Valued Wealth Advisors LLC now owns 596 shares of the biopharmaceutical company’s stock worth $31,000 after buying an additional 549 shares during the last quarter. Institutional investors own 76.41% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on the company. Leerink Partnrs upgraded Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 12th. Leerink Partners upgraded Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and increased their price target for the company from $55.00 to $73.00 in a research note on Tuesday, November 12th. Truist Financial boosted their price target on Bristol-Myers Squibb from $62.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Wolfe Research began coverage on shares of Bristol-Myers Squibb in a research report on Friday, November 15th. They issued a “peer perform” rating for the company. Finally, Daiwa America raised shares of Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 13th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, four have given a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $57.86.

Insider Activity at Bristol-Myers Squibb

In other news, EVP Samit Hirawat bought 1,823 shares of the stock in a transaction dated Friday, February 14th. The shares were acquired at an average cost of $54.84 per share, with a total value of $99,973.32. Following the purchase, the executive vice president now directly owns 63,932 shares in the company, valued at $3,506,030.88. The trade was a 2.94 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.09% of the stock is owned by company insiders.

Bristol-Myers Squibb Stock Performance

NYSE BMY opened at $55.85 on Monday. Bristol-Myers Squibb has a fifty-two week low of $39.35 and a fifty-two week high of $61.10. The company has a debt-to-equity ratio of 2.90, a quick ratio of 1.15 and a current ratio of 1.25. The firm has a market capitalization of $113.33 billion, a P/E ratio of -12.63, a PEG ratio of 2.07 and a beta of 0.45. The stock has a 50-day simple moving average of $56.99 and a two-hundred day simple moving average of $54.41.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share for the quarter, beating the consensus estimate of $1.47 by $0.20. Bristol-Myers Squibb had a positive return on equity of 13.93% and a negative net margin of 18.53%. On average, equities analysts forecast that Bristol-Myers Squibb will post 6.74 earnings per share for the current year.

Bristol-Myers Squibb Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, January 3rd were issued a dividend of $0.62 per share. The ex-dividend date was Friday, January 3rd. This is an increase from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. This represents a $2.48 dividend on an annualized basis and a yield of 4.44%. Bristol-Myers Squibb’s dividend payout ratio is -56.11%.

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.