Davis R M Inc. Trims Stake in Bristol-Myers Squibb (NYSE:BMY)

Davis R M Inc. decreased its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 26.4% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,895 shares of the biopharmaceutical company’s stock after selling 2,474 shares during the quarter. Davis R M Inc.’s holdings in Bristol-Myers Squibb were worth $357,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Daiwa Securities Group Inc. grew its position in Bristol-Myers Squibb by 31.1% in the 3rd quarter. Daiwa Securities Group Inc. now owns 330,191 shares of the biopharmaceutical company’s stock valued at $17,084,000 after acquiring an additional 78,309 shares during the last quarter. Pekin Hardy Strauss Inc. raised its stake in Bristol-Myers Squibb by 13.9% in the third quarter. Pekin Hardy Strauss Inc. now owns 29,552 shares of the biopharmaceutical company’s stock worth $1,529,000 after buying an additional 3,600 shares in the last quarter. Summit Trail Advisors LLC lifted its stake in shares of Bristol-Myers Squibb by 1.8% during the 3rd quarter. Summit Trail Advisors LLC now owns 49,473 shares of the biopharmaceutical company’s stock worth $2,560,000 after purchasing an additional 894 shares during the last quarter. SevenBridge Financial Group LLC lifted its position in shares of Bristol-Myers Squibb by 2.4% during the third quarter. SevenBridge Financial Group LLC now owns 46,991 shares of the biopharmaceutical company’s stock valued at $2,431,000 after buying an additional 1,093 shares during the last quarter. Finally, Centaurus Financial Inc. boosted its stake in Bristol-Myers Squibb by 21.3% in the third quarter. Centaurus Financial Inc. now owns 10,919 shares of the biopharmaceutical company’s stock valued at $565,000 after acquiring an additional 1,920 shares in the last quarter. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently commented on BMY. Morgan Stanley increased their price objective on shares of Bristol-Myers Squibb from $36.00 to $39.00 and gave the company an “underweight” rating in a research report on Tuesday, November 12th. Daiwa America raised Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 13th. BMO Capital Markets increased their price target on shares of Bristol-Myers Squibb from $57.00 to $61.00 and gave the stock a “market perform” rating in a report on Tuesday, November 12th. Jefferies Financial Group lifted their price objective on shares of Bristol-Myers Squibb from $49.00 to $51.00 and gave the company a “hold” rating in a research note on Wednesday, August 28th. Finally, Citigroup increased their price objective on shares of Bristol-Myers Squibb from $55.00 to $60.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 12th. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, two have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $54.07.

Insider Buying and Selling

In other news, EVP Samit Hirawat bought 1,830 shares of the firm’s stock in a transaction on Friday, November 1st. The shares were 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 of the company’s stock, valued at $3,395,499.03. This trade represents a 3.04 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Phil M. Holzer sold 700 shares of the company’s stock in a transaction that occurred 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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. 0.09% of the stock is owned by company insiders.

Bristol-Myers Squibb Price Performance

Shares of Bristol-Myers Squibb stock opened at $58.73 on Tuesday. The firm has a market cap of $119.11 billion, a PE ratio of -16.36, a P/E/G ratio of 15.79 and a beta of 0.44. Bristol-Myers Squibb has a twelve month low of $39.35 and a twelve 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 business has a 50-day moving average price of $53.83 and a 200 day moving average price of $47.87.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported $1.80 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $11.26 billion. During the same period in the previous year, the business earned $2.00 earnings per share. The business’s revenue was up 8.4% compared to the same quarter last year. Sell-side analysts predict that Bristol-Myers Squibb will post 0.93 earnings per share for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 4th were issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 4.09%. The ex-dividend date of this dividend was Friday, October 4th. Bristol-Myers Squibb’s payout ratio is -66.85%.

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.