Premier Fund Managers Ltd Takes Position in Bristol-Myers Squibb (NYSE:BMY)

Premier Fund Managers Ltd purchased a new position in shares of Bristol-Myers Squibb (NYSE:BMY) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 170,200 shares of the biopharmaceutical company’s stock, valued at approximately $8,666,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BMY. West Family Investments Inc. purchased a new position in shares of Bristol-Myers Squibb during the 3rd quarter valued at $296,000. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Bristol-Myers Squibb in the third quarter valued at about $4,010,000. First City Capital Management Inc. increased its position in Bristol-Myers Squibb by 11.3% in the 3rd quarter. First City Capital Management Inc. now owns 20,945 shares of the biopharmaceutical company’s stock worth $1,084,000 after purchasing an additional 2,120 shares during the last quarter. Prospera Financial Services Inc raised its stake in shares of Bristol-Myers Squibb by 40.0% during the 3rd quarter. Prospera Financial Services Inc now owns 73,255 shares of the biopharmaceutical company’s stock worth $3,791,000 after purchasing an additional 20,916 shares in the last quarter. Finally, Verity & Verity LLC acquired a new stake in shares of Bristol-Myers Squibb during the 3rd quarter valued at about $226,000. 76.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BMY has been the topic of a number of research reports. BMO Capital Markets increased their price objective 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. Cantor Fitzgerald restated a “neutral” rating and set a $50.00 price target on shares of Bristol-Myers Squibb in a research note on Friday, October 18th. TD Cowen raised 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. UBS Group upped their price objective 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. Finally, Leerink Partners raised shares of Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $55.00 to $73.00 in a research report on Tuesday, November 12th. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating, two have assigned a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $54.07.

Bristol-Myers Squibb Stock Up 2.5 %

Shares of BMY stock opened at $58.21 on Wednesday. Bristol-Myers Squibb has a 12 month low of $39.35 and a 12 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 firm has a market cap of $118.06 billion, a PE ratio of -16.21, a price-to-earnings-growth ratio of 15.08 and a beta of 0.44. The stock has a 50 day moving average of $53.08 and a 200-day moving average of $47.47.

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 analysts’ consensus estimates of $1.49 by $0.31. Bristol-Myers Squibb had a negative net margin of 15.30% and a positive return on equity of 11.94%. The business had revenue of $11.89 billion for the quarter, compared to analyst estimates of $11.26 billion. During the same quarter in the previous year, the firm posted $2.00 earnings per share. Bristol-Myers Squibb’s revenue was up 8.4% compared to the same quarter last year. On average, equities analysts predict that Bristol-Myers Squibb will post 0.93 EPS for the current year.

Bristol-Myers Squibb Announces Dividend

The business also recently announced 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 annualized dividend and a dividend yield of 4.12%. The ex-dividend date was Friday, October 4th. Bristol-Myers Squibb’s payout ratio is presently -66.85%.

Insider Buying and Selling

In other news, EVP Samit Hirawat bought 1,830 shares of Bristol-Myers Squibb 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 completion of the transaction, 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 ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Phil M. Holzer sold 700 shares of the business’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $55.62, for a total transaction of $38,934.00. Following the completion of the sale, the senior vice president now directly owns 11,760 shares in the company, valued at $654,091.20. This trade represents a 5.62 % decrease in their position. The disclosure for this sale can be found here. 0.09% of the stock is owned by company insiders.

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.