Darwin Wealth Management LLC Makes New Investment in Bristol-Myers Squibb (NYSE:BMY)

Darwin Wealth Management LLC bought a new stake in shares of Bristol-Myers Squibb (NYSE:BMY) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 558 shares of the biopharmaceutical company’s stock, valued at approximately $29,000.

Several other hedge funds have also recently modified their holdings of the stock. Reston Wealth Management LLC acquired a new stake in shares of Bristol-Myers Squibb in the third quarter worth approximately $25,000. Hollencrest Capital Management grew its position in shares of Bristol-Myers Squibb by 61.3% in the 3rd quarter. Hollencrest Capital Management now owns 492 shares of the biopharmaceutical company’s stock valued at $25,000 after buying an additional 187 shares during the last quarter. Kennebec Savings Bank acquired a new stake in shares of Bristol-Myers Squibb in the 3rd quarter valued at approximately $28,000. Valued Wealth Advisors LLC boosted its position in Bristol-Myers Squibb by 1,168.1% during the third quarter. Valued Wealth Advisors LLC now owns 596 shares of the biopharmaceutical company’s stock worth $31,000 after purchasing an additional 549 shares in the last quarter. Finally, LGT Financial Advisors LLC grew its holdings in shares of Bristol-Myers Squibb by 42.7% during the second quarter. LGT Financial Advisors LLC now owns 759 shares of the biopharmaceutical company’s stock worth $32,000 after buying an additional 227 shares in the last quarter. Institutional investors and hedge funds own 76.41% of the company’s stock.

Wall Street Analysts Forecast Growth

BMY has been the subject of several recent research reports. BMO Capital Markets increased 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 research report on Tuesday, November 12th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $50.00 price target on shares of Bristol-Myers Squibb in a report on Friday, October 18th. Citigroup lifted their price objective on Bristol-Myers Squibb from $55.00 to $60.00 and gave the company a “neutral” rating in a research report on Tuesday, November 12th. Barclays lifted their price target on Bristol-Myers Squibb from $42.00 to $43.00 and gave the stock an “underweight” rating in a research report on Monday, October 7th. Finally, Leerink Partnrs upgraded Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 12th. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating, two have issued a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Bristol-Myers Squibb currently has a consensus rating of “Hold” and a consensus target price of $54.07.

Bristol-Myers Squibb Stock Performance

BMY opened at $58.22 on Friday. The company has a market capitalization of $118.08 billion, a price-to-earnings ratio of -16.22, a P/E/G ratio of 15.62 and a beta of 0.44. The business’s 50-day moving average price is $53.46 and its two-hundred day moving average price is $47.61. 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.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly 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. The business had revenue of $11.89 billion for the quarter, compared to analyst estimates of $11.26 billion. Bristol-Myers Squibb had a negative net margin of 15.30% and a positive return on equity of 11.94%. Bristol-Myers Squibb’s quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.00 EPS. Equities analysts expect that Bristol-Myers Squibb will post 0.93 EPS for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 4th were issued a dividend of $0.60 per share. The ex-dividend date was Friday, October 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.12%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -66.85%.

Insider Activity

In other news, SVP Phil M. Holzer sold 700 shares of the company’s 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 owns 11,760 shares in the company, valued at $654,091.20. This represents a 5.62 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Samit Hirawat purchased 1,830 shares of the 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 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.

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.