Spartan Planning & Wealth Management Purchases New Stake in Bristol-Myers Squibb (NYSE:BMY)

Spartan Planning & Wealth Management acquired a new position in shares of Bristol-Myers Squibb (NYSE:BMY) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,009 shares of the biopharmaceutical company’s stock, valued at approximately $227,000.

A number of other hedge funds have also recently made changes to their positions in the business. Lantz Financial LLC grew its holdings in Bristol-Myers Squibb by 17.4% during the second quarter. Lantz Financial LLC now owns 11,799 shares of the biopharmaceutical company’s stock worth $490,000 after buying an additional 1,747 shares in the last quarter. Chris Bulman Inc bought a new position in shares of Bristol-Myers Squibb during the second quarter valued at about $48,000. Caprock Group LLC boosted its holdings in Bristol-Myers Squibb by 56.0% during the second quarter. Caprock Group LLC now owns 44,767 shares of the biopharmaceutical company’s stock worth $1,859,000 after purchasing an additional 16,069 shares during the last quarter. Quest Partners LLC grew its position in Bristol-Myers Squibb by 29,957.4% in the 2nd quarter. Quest Partners LLC now owns 40,878 shares of the biopharmaceutical company’s stock worth $1,698,000 after purchasing an additional 40,742 shares in the last quarter. Finally, First Foundation Advisors lifted its position in shares of Bristol-Myers Squibb by 73.0% during the 2nd quarter. First Foundation Advisors now owns 5,656 shares of the biopharmaceutical company’s stock worth $235,000 after buying an additional 2,386 shares in the last quarter. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Bristol-Myers Squibb

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

Analyst Ratings Changes

A number of analysts recently commented on the company. Barclays increased their price target on Bristol-Myers Squibb from $42.00 to $43.00 and gave the company an “underweight” rating in a research report on Monday, October 7th. Wolfe Research assumed coverage on shares of Bristol-Myers Squibb in a report on Friday, November 15th. They issued a “peer perform” rating on the stock. BMO Capital Markets raised their price objective on shares of Bristol-Myers Squibb from $57.00 to $61.00 and gave the stock a “market perform” rating in a report on Tuesday, November 12th. Leerink Partnrs upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 12th. Finally, UBS Group lifted their price target on shares of Bristol-Myers Squibb from $50.00 to $54.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, three have issued a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, Bristol-Myers Squibb presently has a consensus rating of “Hold” and an average target price of $55.64.

Bristol-Myers Squibb Price Performance

BMY stock traded up $0.74 during midday trading on Tuesday, reaching $57.42. The company had a trading volume of 4,842,917 shares, compared to its average volume of 8,201,315. The firm has a 50-day moving average price of $57.22 and a 200-day moving average price of $51.15. The company has a debt-to-equity ratio of 2.83, a current ratio of 1.24 and a quick ratio of 1.09. The company has a market capitalization of $116.46 billion, a P/E ratio of -15.99, a P/E/G ratio of 15.20 and a beta of 0.45. Bristol-Myers Squibb has a 1 year low of $39.35 and a 1 year high of $61.08.

Bristol-Myers Squibb (NYSE:BMY) last released its earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 EPS for the quarter, beating analysts’ consensus estimates of $1.49 by $0.31. Bristol-Myers Squibb had a positive return on equity of 11.94% and a negative net margin of 15.30%. The business had revenue of $11.89 billion for the quarter, compared to analysts’ expectations of $11.26 billion. During the same quarter in the prior year, the firm earned $2.00 earnings per share. The firm’s revenue was up 8.4% on a year-over-year basis. On average, research analysts anticipate that Bristol-Myers Squibb will post 0.93 earnings per share for the current fiscal year.

Bristol-Myers Squibb Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 3rd will be paid a $0.62 dividend. The ex-dividend date is Friday, January 3rd. This represents a $2.48 annualized dividend and a yield of 4.32%. This is a positive change from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. Bristol-Myers Squibb’s dividend payout ratio is currently -69.08%.

Bristol-Myers Squibb Company 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.