Meeder Asset Management Inc. Boosts Stock Position in Bristol-Myers Squibb (NYSE:BMY)

Meeder Asset Management Inc. raised its stake in Bristol-Myers Squibb (NYSE:BMY) by 93.8% during the 3rd quarter, HoldingsChannel reports. The firm owned 31,672 shares of the biopharmaceutical company’s stock after acquiring an additional 15,329 shares during the period. Meeder Asset Management Inc.’s holdings in Bristol-Myers Squibb were worth $1,639,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the stock. Bessemer Group Inc. raised its holdings in Bristol-Myers Squibb by 16.3% during the first quarter. Bessemer Group Inc. now owns 159,066 shares of the biopharmaceutical company’s stock worth $8,625,000 after purchasing an additional 22,286 shares in the last quarter. Lake Street Advisors Group LLC raised its stake in shares of Bristol-Myers Squibb by 54.7% during the 1st quarter. Lake Street Advisors Group LLC now owns 13,530 shares of the biopharmaceutical company’s stock worth $734,000 after buying an additional 4,784 shares in the last quarter. Pitcairn Co. lifted its holdings in shares of Bristol-Myers Squibb by 152.3% in the 1st quarter. Pitcairn Co. now owns 48,250 shares of the biopharmaceutical company’s stock valued at $2,617,000 after buying an additional 29,128 shares during the period. Ossiam boosted its stake in shares of Bristol-Myers Squibb by 31.7% in the first quarter. Ossiam now owns 88,183 shares of the biopharmaceutical company’s stock valued at $4,782,000 after buying an additional 21,234 shares in the last quarter. Finally, Leelyn Smith LLC grew its holdings in Bristol-Myers Squibb by 4.6% during the first quarter. Leelyn Smith LLC now owns 38,525 shares of the biopharmaceutical company’s stock worth $2,089,000 after acquiring an additional 1,681 shares during the period. Institutional investors and hedge funds own 76.41% of the company’s stock.

Bristol-Myers Squibb Stock Up 1.0 %

BMY stock opened at $56.81 on Tuesday. Bristol-Myers Squibb has a one year low of $39.35 and a one year high of $61.08. The stock has a market capitalization of $115.22 billion, a P/E ratio of -15.82, a PEG ratio of 15.23 and a beta of 0.44. The company has a 50 day moving average price of $52.90 and a two-hundred day moving average price of $47.37. The company has a debt-to-equity ratio of 2.83, a quick ratio of 1.09 and a current ratio of 1.24.

Bristol-Myers Squibb (NYSE:BMY) last released its earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $11.89 billion during the quarter, compared to analyst estimates of $11.26 billion. During the same period in the prior year, the firm posted $2.00 earnings per share. The business’s quarterly revenue was up 8.4% compared to the same quarter last year. As a group, sell-side analysts expect that Bristol-Myers Squibb will post 0.93 EPS for the current year.

Bristol-Myers Squibb Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 4th were given a dividend of $0.60 per share. The ex-dividend date was Friday, October 4th. This represents a $2.40 dividend on an annualized basis and a yield of 4.22%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is -66.85%.

Wall Street Analyst Weigh In

Several brokerages have commented on BMY. Citigroup boosted their target price on shares of Bristol-Myers Squibb from $55.00 to $60.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 12th. Barclays upped their target price on shares of Bristol-Myers Squibb from $42.00 to $43.00 and gave the stock an “underweight” rating in a research report on Monday, October 7th. TD Cowen lifted their price target on shares of Bristol-Myers Squibb from $53.00 to $59.00 and gave the company a “hold” rating in a research report on Monday, October 7th. Jefferies Financial Group upped their price target on Bristol-Myers Squibb from $49.00 to $51.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. Finally, Daiwa Capital Markets raised Bristol-Myers Squibb from a “neutral” rating to an “outperform” rating in a report on Wednesday, November 13th. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating, two have given a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Bristol-Myers Squibb has an average rating of “Hold” and a consensus target price of $54.07.

Insiders Place Their Bets

In other news, SVP Phil M. Holzer sold 700 shares of the business’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $55.62, for a total transaction of $38,934.00. Following the transaction, the senior vice president now directly owns 11,760 shares of the company’s stock, valued at approximately $654,091.20. The trade was a 5.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Samit Hirawat acquired 1,830 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was purchased at an average cost of $54.67 per share, with a total value of $100,046.10. Following the completion of the transaction, the executive vice president now owns 62,109 shares in the company, valued at $3,395,499.03. The trade was a 3.04 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.09% of the stock is owned by insiders.

Bristol-Myers Squibb Company 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.