New England Asset Management Inc. Raises Stake in Bristol-Myers Squibb (NYSE:BMY)

New England Asset Management Inc. lifted its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 2.9% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 46,771 shares of the biopharmaceutical company’s stock after acquiring an additional 1,330 shares during the period. New England Asset Management Inc.’s holdings in Bristol-Myers Squibb were worth $2,420,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Bessemer Group Inc. raised its position in shares of Bristol-Myers Squibb by 16.3% during the 1st quarter. Bessemer Group Inc. now owns 159,066 shares of the biopharmaceutical company’s stock valued at $8,625,000 after buying an additional 22,286 shares during the period. Lake Street Advisors Group LLC increased its stake in Bristol-Myers Squibb by 54.7% during the first quarter. Lake Street Advisors Group LLC now owns 13,530 shares of the biopharmaceutical company’s stock worth $734,000 after acquiring an additional 4,784 shares during the last quarter. Pitcairn Co. raised its position in Bristol-Myers Squibb by 152.3% in the first quarter. Pitcairn Co. now owns 48,250 shares of the biopharmaceutical company’s stock valued at $2,617,000 after purchasing an additional 29,128 shares during the period. Ossiam lifted its stake in shares of Bristol-Myers Squibb by 31.7% in the 1st quarter. Ossiam now owns 88,183 shares of the biopharmaceutical company’s stock valued at $4,782,000 after purchasing an additional 21,234 shares during the last quarter. Finally, Leelyn Smith LLC lifted its stake in shares of Bristol-Myers Squibb by 4.6% in the 1st quarter. Leelyn Smith LLC now owns 38,525 shares of the biopharmaceutical company’s stock valued at $2,089,000 after purchasing an additional 1,681 shares during the last quarter. Institutional investors and hedge funds own 76.41% of the company’s stock.

Insider Activity at Bristol-Myers Squibb

In other news, SVP Phil M. Holzer sold 700 shares of Bristol-Myers Squibb stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $55.62, for a total transaction of $38,934.00. Following the sale, the senior vice president now owns 11,760 shares in the company, valued at approximately $654,091.20. The trade was a 5.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Samit Hirawat purchased 1,830 shares of the business’s stock in a transaction on Friday, November 1st. The shares were purchased at an average cost of $54.67 per share, for a total transaction of $100,046.10. Following the transaction, the executive vice president now owns 62,109 shares of the company’s stock, valued at $3,395,499.03. This trade represents a 3.04 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.09% of the stock is currently owned by corporate insiders.

Bristol-Myers Squibb Trading Up 1.0 %

NYSE BMY opened at $56.81 on Tuesday. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $61.08. The firm has a 50 day moving average of $52.90 and a two-hundred day moving average of $47.37. The stock has a market capitalization of $115.22 billion, a PE ratio of -15.82, a price-to-earnings-growth ratio of 15.23 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.

Bristol-Myers Squibb (NYSE:BMY) last posted its earnings results 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 firm had revenue of $11.89 billion for the quarter, compared to analyst estimates 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 for the quarter was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.00 earnings per share. As a group, research analysts expect 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. Investors of record on Friday, October 4th were paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 4.22%. The ex-dividend date was Friday, October 4th. Bristol-Myers Squibb’s payout ratio is -66.85%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on BMY shares. BMO Capital Markets boosted their price target on shares of Bristol-Myers Squibb from $57.00 to $61.00 and gave the company a “market perform” rating in a research note on Tuesday, November 12th. TD Cowen boosted their target price on Bristol-Myers Squibb from $53.00 to $59.00 and gave the company a “hold” rating in a research report on Monday, October 7th. Jefferies Financial Group raised their price target on Bristol-Myers Squibb from $49.00 to $51.00 and gave the stock a “hold” rating in a research report on Wednesday, August 28th. Leerink Partnrs upgraded Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 12th. Finally, UBS Group raised their target price on Bristol-Myers Squibb from $50.00 to $54.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, two have issued a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price 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.