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

Donoghue Forlines LLC grew its stake in Bristol-Myers Squibb (NYSE:BMY) by 57.1% in the 4th quarter, Holdings Channel reports. The firm owned 27,801 shares of the biopharmaceutical company’s stock after purchasing an additional 10,106 shares during the period. Donoghue Forlines LLC’s holdings in Bristol-Myers Squibb were worth $1,572,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of BMY. EverSource Wealth Advisors LLC lifted its stake in shares of Bristol-Myers Squibb by 14.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 5,695 shares of the biopharmaceutical company’s stock valued at $237,000 after purchasing an additional 703 shares during the period. Public Sector Pension Investment Board lifted its position in Bristol-Myers Squibb by 71.2% during the second quarter. Public Sector Pension Investment Board now owns 77,950 shares of the biopharmaceutical company’s stock valued at $3,237,000 after buying an additional 32,407 shares during the period. Magnetar Financial LLC bought a new stake in shares of Bristol-Myers Squibb during the 2nd quarter valued at $636,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in shares of Bristol-Myers Squibb by 59.3% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 388,221 shares of the biopharmaceutical company’s stock worth $16,123,000 after buying an additional 144,467 shares during the period. Finally, Fred Alger Management LLC increased its stake in shares of Bristol-Myers Squibb by 9.9% in the 2nd quarter. Fred Alger Management LLC now owns 41,496 shares of the biopharmaceutical company’s stock worth $1,723,000 after acquiring an additional 3,726 shares in the last quarter. 76.41% of the stock is owned by hedge funds and other institutional investors.

Bristol-Myers Squibb Price Performance

NYSE BMY opened at $57.15 on Thursday. 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 has a 1-year low of $39.35 and a 1-year high of $61.08. The stock has a market capitalization of $115.92 billion, a price-to-earnings ratio of -15.91, a PEG ratio of 2.02 and a beta of 0.45. The business’s fifty day moving average price is $57.39 and its 200-day moving average price is $52.36.

Bristol-Myers Squibb (NYSE:BMY) last announced its earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, topping 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 business had revenue of $11.89 billion for the quarter, compared to analysts’ expectations of $11.26 billion. During the same period last year, the firm posted $2.00 earnings per share. The business’s revenue for the quarter was up 8.4% on a year-over-year basis. On average, equities analysts predict that Bristol-Myers Squibb will post 0.92 earnings per share for the current year.

Bristol-Myers Squibb Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 3rd will be given a $0.62 dividend. This is a boost from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. The ex-dividend date is Friday, January 3rd. This represents a $2.48 dividend on an annualized basis and a yield of 4.34%. Bristol-Myers Squibb’s dividend payout ratio is presently -69.08%.

Insider Activity

In other news, SVP Phil M. Holzer sold 700 shares of the 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 completion of the sale, the senior vice president now directly owns 11,760 shares of the company’s stock, valued at $654,091.20. This represents a 5.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Samit Hirawat bought 1,830 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was purchased at an average cost of $54.67 per share, with a total value of $100,046.10. Following the acquisition, the executive vice president now directly owns 62,109 shares in the company, valued at $3,395,499.03. This trade represents a 3.04 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.09% of the company’s stock.

Analyst Upgrades and Downgrades

BMY has been the topic of a number of recent research reports. Morgan Stanley upped their price objective 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. Daiwa Capital Markets raised Bristol-Myers Squibb from a “neutral” rating to an “outperform” rating in a research report on Wednesday, November 13th. BMO Capital Markets boosted their target price on Bristol-Myers Squibb from $57.00 to $61.00 and gave the stock a “market perform” rating in a report on Tuesday, November 12th. Wolfe Research started coverage on Bristol-Myers Squibb in a research note on Friday, November 15th. They issued a “peer perform” rating on the stock. Finally, Bank of America reaffirmed a “neutral” rating and issued a $63.00 price target on shares of Bristol-Myers Squibb in a research report on Tuesday, December 10th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating, four have issued a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $56.27.

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.