Corundum Group Inc. Boosts Position in Bristol-Myers Squibb (NYSE:BMY)

Corundum Group Inc. lifted its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 67.8% in the 4th quarter, Holdings Channel reports. The institutional investor owned 43,534 shares of the biopharmaceutical company’s stock after acquiring an additional 17,596 shares during the quarter. Bristol-Myers Squibb makes up about 0.9% of Corundum Group Inc.’s investment portfolio, making the stock its 28th biggest position. Corundum Group Inc.’s holdings in Bristol-Myers Squibb were worth $2,462,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Seven Eight Capital LP acquired a new stake in shares of Bristol-Myers Squibb in the 2nd quarter valued at about $392,000. Benjamin F. Edwards & Company Inc. lifted its stake in Bristol-Myers Squibb by 6.0% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 94,911 shares of the biopharmaceutical company’s stock valued at $3,941,000 after buying an additional 5,382 shares during the last quarter. Bridges Investment Management Inc. boosted its holdings in shares of Bristol-Myers Squibb by 15.6% in the second quarter. Bridges Investment Management Inc. now owns 14,600 shares of the biopharmaceutical company’s stock valued at $606,000 after acquiring an additional 1,971 shares during the period. AE Wealth Management LLC grew its position in shares of Bristol-Myers Squibb by 17.2% during the second quarter. AE Wealth Management LLC now owns 108,803 shares of the biopharmaceutical company’s stock worth $4,519,000 after acquiring an additional 15,934 shares during the last quarter. Finally, Ameritas Investment Partners Inc. increased its holdings in shares of Bristol-Myers Squibb by 0.6% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 55,336 shares of the biopharmaceutical company’s stock valued at $2,298,000 after acquiring an additional 338 shares during the period. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have issued reports on BMY. Daiwa Capital Markets raised shares of Bristol-Myers Squibb from a “neutral” rating to an “outperform” rating in a research report on Wednesday, November 13th. Citigroup raised their price target on Bristol-Myers Squibb from $55.00 to $60.00 and gave the stock a “neutral” rating in a report on Tuesday, November 12th. Sanford C. Bernstein assumed coverage on Bristol-Myers Squibb in a research report on Thursday, October 17th. They set a “market perform” rating and a $56.00 price objective for the company. Barclays boosted their target price on Bristol-Myers Squibb from $42.00 to $43.00 and gave the company an “underweight” rating in a report on Monday, October 7th. Finally, Daiwa America raised Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 13th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, four have assigned a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $56.27.

Insider Activity at Bristol-Myers Squibb

In other news, EVP Samit Hirawat acquired 1,830 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was acquired at an average price of $54.67 per share, with a total value of $100,046.10. Following the completion of the transaction, the executive vice president now directly owns 62,109 shares in the company, valued at approximately $3,395,499.03. This represents a 3.04 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 sale, the senior vice president now owns 11,760 shares in the company, valued at approximately $654,091.20. This trade represents a 5.62 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.09% of the company’s stock.

Bristol-Myers Squibb Price Performance

Shares of NYSE:BMY opened at $56.35 on Monday. Bristol-Myers Squibb has a 12 month low of $39.35 and a 12 month high of $61.08. The firm has a market capitalization of $114.30 billion, a price-to-earnings ratio of -15.70, a price-to-earnings-growth ratio of 1.95 and a beta of 0.45. The business’s 50 day simple moving average is $57.53 and its 200-day simple moving average is $52.00. The company has a debt-to-equity ratio of 2.83, a current ratio of 1.24 and a quick ratio of 1.09.

Bristol-Myers Squibb (NYSE:BMY) last posted its earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $11.89 billion for the quarter, compared to analyst estimates of $11.26 billion. During the same quarter in the prior year, the company earned $2.00 earnings per share. Bristol-Myers Squibb’s revenue was up 8.4% compared to the same quarter last year. As a group, equities analysts forecast that Bristol-Myers Squibb will post 0.93 earnings per share for the current fiscal year.

Bristol-Myers Squibb Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 3rd will be issued a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 4.40%. The ex-dividend date is Friday, January 3rd. This is a boost from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. Bristol-Myers Squibb’s dividend payout ratio is -69.08%.

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.