Bristol-Myers Squibb (NYSE:BMY) Shares Sold by Quantbot Technologies LP

Quantbot Technologies LP reduced its position in Bristol-Myers Squibb (NYSE:BMY) by 86.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,387 shares of the biopharmaceutical company’s stock after selling 160,517 shares during the period. Quantbot Technologies LP’s holdings in Bristol-Myers Squibb were worth $1,314,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of BMY. FMR LLC lifted its position in Bristol-Myers Squibb by 10.5% during the third quarter. FMR LLC now owns 44,940,609 shares of the biopharmaceutical company’s stock valued at $2,325,227,000 after buying an additional 4,275,787 shares in the last quarter. Summit Financial Wealth Advisors LLC lifted its holdings in shares of Bristol-Myers Squibb by 2.4% during the 3rd quarter. Summit Financial Wealth Advisors LLC now owns 9,658 shares of the biopharmaceutical company’s stock valued at $500,000 after acquiring an additional 225 shares in the last quarter. Dai ichi Life Insurance Company Ltd boosted its position in Bristol-Myers Squibb by 308.7% during the 3rd quarter. Dai ichi Life Insurance Company Ltd now owns 66,197 shares of the biopharmaceutical company’s stock worth $3,425,000 after purchasing an additional 50,000 shares during the period. Patton Albertson Miller Group LLC acquired a new stake in Bristol-Myers Squibb in the 3rd quarter valued at $246,000. Finally, The Manufacturers Life Insurance Company raised its position in Bristol-Myers Squibb by 1.8% in the third quarter. The Manufacturers Life Insurance Company now owns 1,711,074 shares of the biopharmaceutical company’s stock valued at $88,531,000 after purchasing an additional 29,480 shares during the period. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on BMY. Sanford C. Bernstein began coverage on Bristol-Myers Squibb in a research note on Thursday, October 17th. They issued a “market perform” rating and a $56.00 target price for the company. Daiwa America raised shares of Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 13th. Leerink Partnrs raised shares of Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 12th. 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. Finally, BMO Capital Markets boosted 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 report on Tuesday, November 12th. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, two have given a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, Bristol-Myers Squibb presently has a consensus rating of “Hold” and a consensus price target of $54.07.

Bristol-Myers Squibb Trading Down 0.1 %

NYSE:BMY opened at $59.22 on Friday. The business’s 50 day moving average is $54.61 and its two-hundred day moving average is $48.25. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $61.08. The company has a market cap of $120.11 billion, a PE ratio of -16.50, a P/E/G ratio of 15.90 and a beta of 0.44. The company has a quick ratio of 1.09, a current ratio of 1.24 and a debt-to-equity ratio of 2.83.

Bristol-Myers Squibb (NYSE:BMY) last issued its 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 company had revenue of $11.89 billion during the quarter, compared to the consensus estimate of $11.26 billion. Bristol-Myers Squibb had a positive return on equity of 11.94% and a negative net margin of 15.30%. Bristol-Myers Squibb’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.00 earnings per share. On average, analysts predict that Bristol-Myers Squibb will post 0.93 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 4th were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Friday, October 4th. This represents a $2.40 annualized dividend and a dividend yield of 4.05%. Bristol-Myers Squibb’s dividend payout ratio is presently -66.85%.

Insider Activity at Bristol-Myers Squibb

In other Bristol-Myers Squibb news, EVP Samit Hirawat purchased 1,830 shares of the stock in a transaction dated Friday, November 1st. The shares were bought at an average cost of $54.67 per share, with a total value of $100,046.10. Following the completion of the acquisition, the executive vice president now owns 62,109 shares of the company’s stock, valued at approximately $3,395,499.03. This trade represents a 3.04 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Phil M. Holzer sold 700 shares of Bristol-Myers Squibb stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $55.62, for a total transaction of $38,934.00. Following the sale, the senior vice president now owns 11,760 shares in the company, valued at approximately $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 insiders.

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.