Summit Trail Advisors LLC Purchases 894 Shares of Bristol-Myers Squibb (NYSE:BMY)

Summit Trail Advisors LLC raised its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 1.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,473 shares of the biopharmaceutical company’s stock after acquiring an additional 894 shares during the period. Summit Trail Advisors LLC’s holdings in Bristol-Myers Squibb were worth $2,560,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. SevenBridge Financial Group LLC increased its stake in Bristol-Myers Squibb by 2.4% during the third quarter. SevenBridge Financial Group LLC now owns 46,991 shares of the biopharmaceutical company’s stock worth $2,431,000 after acquiring an additional 1,093 shares during the last quarter. Centaurus Financial Inc. increased its position in shares of Bristol-Myers Squibb by 21.3% during the 3rd quarter. Centaurus Financial Inc. now owns 10,919 shares of the biopharmaceutical company’s stock valued at $565,000 after purchasing an additional 1,920 shares during the last quarter. Larson Financial Group LLC raised its holdings in Bristol-Myers Squibb by 76.3% during the 3rd quarter. Larson Financial Group LLC now owns 15,461 shares of the biopharmaceutical company’s stock valued at $800,000 after buying an additional 6,690 shares during the period. Sompo Asset Management Co. Ltd. boosted its stake in Bristol-Myers Squibb by 43.7% during the third quarter. Sompo Asset Management Co. Ltd. now owns 49,780 shares of the biopharmaceutical company’s stock worth $2,576,000 after buying an additional 15,140 shares during the period. Finally, StoneX Group Inc. increased its position in Bristol-Myers Squibb by 10.9% during the third quarter. StoneX Group Inc. now owns 16,266 shares of the biopharmaceutical company’s stock valued at $842,000 after acquiring an additional 1,593 shares during the last quarter. 76.41% of the stock is currently owned by institutional investors.

Insider Activity

In other news, EVP Samit Hirawat purchased 1,830 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The shares were purchased at an average price of $54.67 per share, for a total transaction of $100,046.10. Following the purchase, 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 transaction was disclosed in a document filed 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 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 completion of the transaction, the senior vice president now directly owns 11,760 shares in the company, valued at $654,091.20. The trade was a 5.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.09% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Leerink Partnrs upgraded Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 12th. UBS Group lifted their target price on Bristol-Myers Squibb from $50.00 to $54.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Daiwa America upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 13th. Cantor Fitzgerald reissued a “neutral” rating and issued a $50.00 price objective on shares of Bristol-Myers Squibb in a research report on Friday, October 18th. Finally, StockNews.com raised shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 29th. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, two have assigned a buy rating and three have given 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 target price of $54.07.

Bristol-Myers Squibb Stock Performance

NYSE:BMY opened at $58.87 on Monday. The company has a market cap of $119.40 billion, a price-to-earnings ratio of -16.40, a price-to-earnings-growth ratio of 15.62 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 has a 52 week low of $39.35 and a 52 week high of $61.08. The company has a fifty day simple moving average of $53.66 and a two-hundred day simple moving average of $47.77.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly 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. 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 negative net margin of 15.30% and a positive return on equity of 11.94%. The firm’s quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.00 earnings per share. As a group, equities analysts anticipate that Bristol-Myers Squibb will post 0.93 earnings per share for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 4th were issued a dividend of $0.60 per share. The ex-dividend date of this dividend was Friday, October 4th. This represents a $2.40 dividend on an annualized basis and a yield of 4.08%. Bristol-Myers Squibb’s payout ratio is currently -66.85%.

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.