Fmr LLC Increases Stock Holdings in Bristol-Myers Squibb (NYSE:BMY)

Fmr LLC increased its stake in Bristol-Myers Squibb (NYSE:BMY) by 10.5% in the third quarter, Holdings Channel reports. The institutional investor owned 44,940,609 shares of the biopharmaceutical company’s stock after acquiring an additional 4,275,787 shares during the period. Fmr LLC’s holdings in Bristol-Myers Squibb were worth $2,325,227,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of BMY. Summit Financial Wealth Advisors LLC grew its holdings in Bristol-Myers Squibb by 2.4% during the 3rd quarter. Summit Financial Wealth Advisors LLC now owns 9,658 shares of the biopharmaceutical company’s stock valued at $500,000 after purchasing an additional 225 shares during the last quarter. Dai ichi Life Insurance Company Ltd raised its holdings in shares of Bristol-Myers Squibb by 308.7% in the third quarter. Dai ichi Life Insurance Company Ltd now owns 66,197 shares of the biopharmaceutical company’s stock worth $3,425,000 after buying an additional 50,000 shares during the period. Patton Albertson Miller Group LLC bought a new stake in shares of Bristol-Myers Squibb during the 3rd quarter worth approximately $246,000. The Manufacturers Life Insurance Company grew its position in Bristol-Myers Squibb by 1.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,711,074 shares of the biopharmaceutical company’s stock valued at $88,531,000 after acquiring an additional 29,480 shares during the last quarter. Finally, Horizon Kinetics Asset Management LLC increased its stake in Bristol-Myers Squibb by 31.9% in the third quarter. Horizon Kinetics Asset Management LLC now owns 59,382 shares of the biopharmaceutical company’s stock worth $3,072,000 after purchasing an additional 14,364 shares during the period. 76.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. TD Cowen lifted their price target 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 raised their price target on Bristol-Myers Squibb from $42.00 to $43.00 and gave the company an “underweight” rating in a research note on Monday, October 7th. Morgan Stanley increased their target price on shares of Bristol-Myers Squibb from $36.00 to $39.00 and gave the stock an “underweight” rating in a report on Tuesday, November 12th. StockNews.com upgraded shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Monday, July 29th. Finally, UBS Group increased 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. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, two have given a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Bristol-Myers Squibb presently has a consensus rating of “Hold” and an average price target of $54.07.

Insider Activity at Bristol-Myers Squibb

In other Bristol-Myers Squibb news, SVP Phil M. Holzer sold 700 shares of the 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 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Samit Hirawat acquired 1,830 shares of Bristol-Myers Squibb stock in a transaction on Friday, November 1st. The shares were bought at an average price of $54.67 per share, with a total value of $100,046.10. Following the purchase, the executive vice president now directly owns 62,109 shares in the company, valued at approximately $3,395,499.03. The trade was a 3.04 % increase in their position. The disclosure for this purchase can be found here. 0.09% of the stock is owned by insiders.

Bristol-Myers Squibb Stock Down 0.2 %

BMY stock opened at $58.73 on Tuesday. 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 has a 52 week low of $39.35 and a 52 week high of $61.08. The stock has a market capitalization of $119.11 billion, a PE ratio of -16.36, a price-to-earnings-growth ratio of 15.79 and a beta of 0.44. The firm has a 50 day moving average of $53.83 and a 200 day moving average of $47.87.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share for the quarter, beating analysts’ consensus estimates 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 negative net margin of 15.30% and a positive return on equity of 11.94%. The business’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same period in the previous year, the company earned $2.00 earnings per share. Sell-side analysts forecast that Bristol-Myers Squibb will post 0.93 earnings per share for the current year.

Bristol-Myers Squibb Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 4th were issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.09%. The ex-dividend date was Friday, October 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is -66.85%.

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.