Edgestream Partners L.P. Acquires 141,353 Shares of Bristol-Myers Squibb (NYSE:BMY)

Edgestream Partners L.P. boosted its holdings in Bristol-Myers Squibb (NYSE:BMY) by 842.9% in the 3rd quarter, HoldingsChannel reports. The firm owned 158,123 shares of the biopharmaceutical company’s stock after purchasing an additional 141,353 shares during the quarter. Bristol-Myers Squibb makes up approximately 0.4% of Edgestream Partners L.P.’s portfolio, making the stock its 23rd largest holding. Edgestream Partners L.P.’s holdings in Bristol-Myers Squibb were worth $8,181,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Cetera Investment Advisers boosted its holdings in shares of Bristol-Myers Squibb by 262.1% during the 1st quarter. Cetera Investment Advisers now owns 574,683 shares of the biopharmaceutical company’s stock valued at $31,165,000 after purchasing an additional 415,984 shares during the last quarter. Pathway Financial Advisers LLC bought a new position in Bristol-Myers Squibb during the first quarter valued at approximately $60,000. EverSource Wealth Advisors LLC grew its holdings in Bristol-Myers Squibb by 94.9% during the 1st quarter. EverSource Wealth Advisors LLC now owns 4,992 shares of the biopharmaceutical company’s stock valued at $271,000 after buying an additional 2,431 shares in the last quarter. Hudson Valley Investment Advisors Inc. ADV raised its holdings in shares of Bristol-Myers Squibb by 9.9% during the 2nd quarter. Hudson Valley Investment Advisors Inc. ADV now owns 15,426 shares of the biopharmaceutical company’s stock worth $641,000 after acquiring an additional 1,391 shares in the last quarter. Finally, Marcum Wealth LLC boosted its position in shares of Bristol-Myers Squibb by 18.4% during the 2nd quarter. Marcum Wealth LLC now owns 15,834 shares of the biopharmaceutical company’s stock valued at $658,000 after acquiring an additional 2,466 shares during the last quarter. 76.41% of the stock is owned by hedge funds and other institutional investors.

Bristol-Myers Squibb Trading Down 0.1 %

Shares of NYSE BMY opened at $59.22 on Friday. Bristol-Myers Squibb has a twelve month low of $39.35 and a twelve month high of $61.08. 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 has a fifty day simple moving average of $54.61 and a two-hundred day simple moving average of $48.22. The firm has a market cap of $120.11 billion, a PE ratio of -16.50, a price-to-earnings-growth ratio of 15.90 and a beta of 0.44.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share for the quarter, topping analysts’ consensus estimates of $1.49 by $0.31. The company had revenue of $11.89 billion during 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 firm’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.00 earnings per share. Analysts expect that Bristol-Myers Squibb will post 0.93 earnings per share for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 4th were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 4.05%. The ex-dividend date of this dividend was Friday, October 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is -66.85%.

Insiders Place Their Bets

In other Bristol-Myers Squibb news, SVP Phil M. Holzer sold 700 shares of Bristol-Myers Squibb 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 of the company’s stock, 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 can be accessed through the SEC website. Also, 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 price of $54.67 per share, with a total value of $100,046.10. Following the acquisition, the executive vice president now 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 company insiders.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Daiwa America raised shares of Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 13th. TD Cowen increased their price target on shares of Bristol-Myers Squibb from $53.00 to $59.00 and gave the company a “hold” rating in a report on Monday, October 7th. Citigroup boosted their price objective on Bristol-Myers Squibb from $55.00 to $60.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 12th. Barclays lifted their target price on Bristol-Myers Squibb from $42.00 to $43.00 and gave the stock an “underweight” rating in a report on Monday, October 7th. Finally, 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 report on Tuesday, November 12th. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, two have given a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, the company 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.