Eagle Bay Advisors LLC Has $369,000 Position in Bristol-Myers Squibb (NYSE:BMY)

Eagle Bay Advisors LLC lowered its holdings in Bristol-Myers Squibb (NYSE:BMY) by 3.0% in the 4th quarter, HoldingsChannel.com reports. The firm owned 6,518 shares of the biopharmaceutical company’s stock after selling 199 shares during the quarter. Eagle Bay Advisors LLC’s holdings in Bristol-Myers Squibb were worth $369,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of BMY. Reston Wealth Management LLC acquired a new stake in Bristol-Myers Squibb in the 3rd quarter valued at $25,000. Hollencrest Capital Management grew its position in 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 purchasing an additional 187 shares during the period. Kennebec Savings Bank acquired a new stake in Bristol-Myers Squibb in the 3rd quarter valued at $28,000. Darwin Wealth Management LLC acquired a new stake in Bristol-Myers Squibb in the 3rd quarter valued at $29,000. Finally, Valued Wealth Advisors LLC grew its position in Bristol-Myers Squibb by 1,168.1% in the 3rd quarter. Valued Wealth Advisors LLC now owns 596 shares of the biopharmaceutical company’s stock valued at $31,000 after purchasing an additional 549 shares during the period. Institutional investors and hedge funds own 76.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on BMY shares. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $50.00 price objective on shares of Bristol-Myers Squibb in a report on Friday, October 18th. Daiwa America raised shares of Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 13th. Jefferies Financial Group raised shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $63.00 to $70.00 in a report on Monday, December 16th. Daiwa Capital Markets raised shares of Bristol-Myers Squibb from a “neutral” rating to an “outperform” rating in a report on Wednesday, November 13th. Finally, Leerink Partners raised shares of Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $55.00 to $73.00 in a report on Tuesday, November 12th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, four have issued a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $56.27.

Insiders Place Their Bets

In other news, SVP Phil M. Holzer sold 700 shares of the stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $55.62, for a total transaction of $38,934.00. Following the completion of the sale, the senior vice president now owns 11,760 shares of the company’s stock, valued at approximately $654,091.20. This represents a 5.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Samit Hirawat acquired 1,830 shares of the company’s 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 purchase, 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 position. The disclosure for this purchase can be found here. 0.09% of the stock is owned by insiders.

Bristol-Myers Squibb Price Performance

Shares of NYSE BMY traded down $0.79 during midday trading on Monday, hitting $55.04. 2,597,627 shares of the company’s stock were exchanged, compared to its average volume of 8,982,889. The company has a market cap of $111.63 billion, a price-to-earnings ratio of -15.33, a PEG ratio of 15.20 and a beta of 0.45. The business’s fifty day moving average price is $57.44 and its two-hundred day moving average price is $51.56. The company has a current ratio of 1.24, a quick ratio of 1.09 and a debt-to-equity ratio of 2.83. Bristol-Myers Squibb has a 12-month low of $39.35 and a 12-month high of $61.08.

Bristol-Myers Squibb (NYSE:BMY) last issued its earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.31. The business had revenue of $11.89 billion during the quarter, compared to analyst estimates 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 revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.00 earnings per share. As a group, research analysts forecast that Bristol-Myers Squibb will post 0.93 EPS for the current fiscal year.

Bristol-Myers Squibb Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 3rd will be paid a $0.62 dividend. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $2.48 annualized dividend and a yield of 4.51%. This is a positive change from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. Bristol-Myers Squibb’s dividend payout ratio is currently -69.08%.

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.