LS Investment Advisors LLC Purchases New Stake in Bristol-Myers Squibb (NYSE:BMY)

LS Investment Advisors LLC bought a new position in Bristol-Myers Squibb (NYSE:BMY) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 4,545 shares of the biopharmaceutical company’s stock, valued at approximately $235,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BMY. Patriot Financial Group Insurance Agency LLC lifted its stake in Bristol-Myers Squibb by 3.8% during the third quarter. Patriot Financial Group Insurance Agency LLC now owns 5,595 shares of the biopharmaceutical company’s stock worth $289,000 after purchasing an additional 206 shares during the last quarter. Xponance Inc. lifted its holdings in shares of Bristol-Myers Squibb by 8.8% in the 2nd quarter. Xponance Inc. now owns 317,381 shares of the biopharmaceutical company’s stock worth $13,181,000 after purchasing an additional 25,543 shares during the last quarter. Plato Investment Management Ltd boosted its position in Bristol-Myers Squibb by 25.4% during the 2nd quarter. Plato Investment Management Ltd now owns 103,954 shares of the biopharmaceutical company’s stock valued at $4,317,000 after purchasing an additional 21,041 shares during the period. AlTi Global Inc. lifted its stake in Bristol-Myers Squibb by 795.6% in the second quarter. AlTi Global Inc. now owns 107,268 shares of the biopharmaceutical company’s stock valued at $4,455,000 after buying an additional 95,291 shares during the last quarter. Finally, Epoch Investment Partners Inc. boosted its holdings in shares of Bristol-Myers Squibb by 17.4% during the second quarter. Epoch Investment Partners Inc. now owns 1,074,685 shares of the biopharmaceutical company’s stock valued at $44,632,000 after acquiring an additional 159,140 shares during the period. 76.41% of the stock is owned by institutional investors.

Insider Activity at Bristol-Myers Squibb

In other Bristol-Myers Squibb news, EVP Samit Hirawat bought 1,830 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were acquired at an average cost of $54.67 per share, for a total transaction of $100,046.10. Following the transaction, the executive vice president now owns 62,109 shares in the company, valued at approximately $3,395,499.03. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, SVP Phil M. Holzer sold 700 shares of the 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 completion of the sale, the senior vice president now owns 11,760 shares in the company, valued at $654,091.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Samit Hirawat purchased 1,830 shares of Bristol-Myers Squibb stock in a transaction on Friday, November 1st. The stock was purchased at an average price of $54.67 per share, for a total transaction of $100,046.10. Following the completion of the transaction, the executive vice president now owns 62,109 shares of the company’s stock, valued at approximately $3,395,499.03. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.09% of the stock is currently owned by corporate insiders.

Bristol-Myers Squibb Price Performance

Shares of NYSE:BMY opened at $54.74 on Friday. The stock has a market capitalization of $111.02 billion, a P/E ratio of -15.25, a P/E/G ratio of 12.39 and a beta of 0.44. The company has a debt-to-equity ratio of 2.83, a current ratio of 1.24 and a quick ratio of 1.09. The business has a 50-day moving average of $51.69 and a two-hundred day moving average of $46.72. Bristol-Myers Squibb has a fifty-two week low of $39.35 and a fifty-two week high of $56.80.

Bristol-Myers Squibb (NYSE:BMY) last announced its earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.49 by $0.31. Bristol-Myers Squibb had a negative net margin of 15.30% and a positive return on equity of 11.94%. The business had revenue of $11.89 billion for the quarter, compared to analyst estimates of $11.26 billion. During the same quarter in the previous year, the firm posted $2.00 earnings per share. Bristol-Myers Squibb’s revenue was up 8.4% compared to the same quarter last year. On average, equities research analysts predict that Bristol-Myers Squibb will post 0.9 EPS for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The company 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. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.38%. The ex-dividend date was Friday, October 4th. Bristol-Myers Squibb’s dividend payout ratio is presently -66.85%.

Analysts Set New Price Targets

BMY has been the topic of a number of recent analyst reports. Barclays lifted their price target on Bristol-Myers Squibb from $42.00 to $43.00 and gave the company an “underweight” rating in a report on Monday, October 7th. Sanford C. Bernstein initiated coverage on Bristol-Myers Squibb in a research report on Thursday, October 17th. They set a “market perform” rating and a $56.00 price target for the company. Cantor Fitzgerald restated a “neutral” rating and set a $50.00 price target on shares of Bristol-Myers Squibb in a research report on Friday, October 18th. TD Cowen increased their price objective 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 upped their target price on Bristol-Myers Squibb from $53.00 to $57.00 and gave the stock a “market perform” rating in a research report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Bristol-Myers Squibb presently has a consensus rating of “Hold” and a consensus price target of $53.00.

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.