Janney Montgomery Scott LLC Has $54 Million Stake in Bristol-Myers Squibb (NYSE:BMY)

Janney Montgomery Scott LLC boosted its holdings in Bristol-Myers Squibb (NYSE:BMY) by 29.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 954,727 shares of the biopharmaceutical company’s stock after purchasing an additional 217,603 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Bristol-Myers Squibb were worth $53,999,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Meridian Management Co. increased its position in shares of Bristol-Myers Squibb by 0.6% during the third quarter. Meridian Management Co. now owns 28,283 shares of the biopharmaceutical company’s stock worth $1,463,000 after acquiring an additional 182 shares in the last quarter. Hollencrest Capital Management lifted its holdings in shares of Bristol-Myers Squibb by 61.3% in the third quarter. Hollencrest Capital Management now owns 492 shares of the biopharmaceutical company’s stock valued at $25,000 after purchasing an additional 187 shares in the last quarter. Dunhill Financial LLC boosted its position in shares of Bristol-Myers Squibb by 39.8% during the third quarter. Dunhill Financial LLC now owns 664 shares of the biopharmaceutical company’s stock valued at $34,000 after buying an additional 189 shares during the last quarter. Mayflower Financial Advisors LLC grew its holdings in Bristol-Myers Squibb by 2.3% during the third quarter. Mayflower Financial Advisors LLC now owns 8,466 shares of the biopharmaceutical company’s stock worth $438,000 after buying an additional 192 shares in the last quarter. Finally, Lakewood Asset Management LLC raised its position in Bristol-Myers Squibb by 0.7% in the 4th quarter. Lakewood Asset Management LLC now owns 26,867 shares of the biopharmaceutical company’s stock valued at $1,520,000 after buying an additional 195 shares during the last quarter. Institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Price Performance

Bristol-Myers Squibb stock opened at $59.15 on Friday. 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 one year low of $39.35 and a one year high of $61.08. The firm has a market capitalization of $119.97 billion, a P/E ratio of -16.48, a PEG ratio of 2.02 and a beta of 0.45. The business has a fifty day moving average price of $57.39 and a 200-day moving average price of $52.36.

Bristol-Myers Squibb (NYSE:BMY) last posted its earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share 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 analyst estimates of $11.26 billion. During the same quarter in the previous year, the firm earned $2.00 EPS. The company’s quarterly revenue was up 8.4% compared to the same quarter last year. As a group, equities research analysts forecast that Bristol-Myers Squibb will post 0.92 EPS for the current year.

Bristol-Myers Squibb Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 3rd will be given a dividend of $0.62 per share. This is a positive change from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.19%. The ex-dividend date of this dividend is Friday, January 3rd. Bristol-Myers Squibb’s payout ratio is -69.08%.

Insider Buying and Selling

In other Bristol-Myers Squibb news, SVP Phil M. Holzer sold 700 shares of the company’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $55.62, for a total value of $38,934.00. Following the transaction, the senior vice president now directly owns 11,760 shares in the company, valued at $654,091.20. This represents a 5.62 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Samit Hirawat acquired 1,830 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were acquired at an average cost of $54.67 per share, with a total value 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 represents a 3.04 % increase in their position. The disclosure for this purchase can be found here. 0.09% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Morgan Stanley upped their target price on shares of Bristol-Myers Squibb from $36.00 to $39.00 and gave the stock an “underweight” rating in a research note on Tuesday, November 12th. Daiwa Capital Markets upgraded shares of Bristol-Myers Squibb from a “neutral” rating to an “outperform” rating in a research note on Wednesday, November 13th. Truist Financial boosted their target price on Bristol-Myers Squibb from $62.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Cantor Fitzgerald reiterated a “neutral” rating and set a $50.00 price target on shares of Bristol-Myers Squibb in a report on Friday, October 18th. Finally, UBS Group upped their price objective on Bristol-Myers Squibb from $50.00 to $54.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, four have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $56.27.

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.