Moors & Cabot Inc. Raises Position in Bristol-Myers Squibb (NYSE:BMY)

Moors & Cabot Inc. grew its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 14.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 89,229 shares of the biopharmaceutical company’s stock after purchasing an additional 11,578 shares during the quarter. Moors & Cabot Inc.’s holdings in Bristol-Myers Squibb were worth $5,047,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Natural Investments LLC purchased a new position in shares of Bristol-Myers Squibb in the 4th quarter worth $393,000. AGF Management Ltd. raised its position in shares of Bristol-Myers Squibb by 8.2% in the 4th quarter. AGF Management Ltd. now owns 607,064 shares of the biopharmaceutical company’s stock worth $34,336,000 after buying an additional 45,901 shares during the period. Fairway Wealth LLC purchased a new position in shares of Bristol-Myers Squibb in the 4th quarter worth $28,000. Avantax Planning Partners Inc. raised its position in shares of Bristol-Myers Squibb by 2.8% in the 4th quarter. Avantax Planning Partners Inc. now owns 63,361 shares of the biopharmaceutical company’s stock worth $3,584,000 after buying an additional 1,705 shares during the period. Finally, GC Wealth Management RIA LLC raised its position in shares of Bristol-Myers Squibb by 3.0% in the 4th quarter. GC Wealth Management RIA LLC now owns 8,239 shares of the biopharmaceutical company’s stock worth $466,000 after buying an additional 239 shares during the period. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Samit Hirawat bought 1,823 shares of the business’s stock in a transaction on Friday, February 14th. The stock was purchased at an average cost of $54.84 per share, for a total transaction of $99,973.32. Following the completion of the transaction, the executive vice president now directly owns 63,932 shares of the company’s stock, valued at approximately $3,506,030.88. This trade represents a 2.94 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.09% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

BMY has been the topic of several research reports. Morgan Stanley increased their target price on Bristol-Myers Squibb from $36.00 to $39.00 and gave the stock an “underweight” rating in a research report on Tuesday, November 12th. BMO Capital Markets raised their price objective on Bristol-Myers Squibb from $57.00 to $61.00 and gave the company a “market perform” rating in a research report on Tuesday, November 12th. Cantor Fitzgerald raised their price objective on Bristol-Myers Squibb from $50.00 to $55.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. Bank of America reissued a “neutral” rating and issued a $63.00 price objective on shares of Bristol-Myers Squibb in a research report on Tuesday, December 10th. Finally, Leerink Partners raised Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $55.00 to $73.00 in a research report on Tuesday, November 12th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, four have given a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $57.86.

Bristol-Myers Squibb Stock Performance

Shares of NYSE BMY opened at $61.47 on Wednesday. The company has a current ratio of 1.25, a quick ratio of 1.15 and a debt-to-equity ratio of 2.90. The stock has a 50 day simple moving average of $57.62 and a 200-day simple moving average of $55.38. The company has a market cap of $124.74 billion, a PE ratio of -13.91, a P/E/G ratio of 2.07 and a beta of 0.43. Bristol-Myers Squibb has a 12-month low of $39.35 and a 12-month high of $63.33.

Bristol-Myers Squibb (NYSE:BMY) last released its earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share for the quarter, topping analysts’ consensus estimates of $1.47 by $0.20. Bristol-Myers Squibb had a positive return on equity of 13.93% and a negative net margin of 18.53%. On average, equities research analysts forecast that Bristol-Myers Squibb will post 6.74 EPS for the current year.

Bristol-Myers Squibb Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Friday, April 4th will be given a $0.62 dividend. The ex-dividend date of this dividend is Friday, April 4th. This represents a $2.48 dividend on an annualized basis and a yield of 4.03%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is -56.11%.

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.