Glenmede Trust Co. NA Lowers Position in Bristol-Myers Squibb (NYSE:BMY)

Glenmede Trust Co. NA lowered its stake in Bristol-Myers Squibb (NYSE:BMY) by 23.9% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 943,271 shares of the biopharmaceutical company’s stock after selling 296,440 shares during the quarter. Glenmede Trust Co. NA’s holdings in Bristol-Myers Squibb were worth $48,805,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Reston Wealth Management LLC purchased a new position in Bristol-Myers Squibb during the 3rd quarter valued at approximately $25,000. Hollencrest Capital Management boosted its position in shares of Bristol-Myers Squibb by 61.3% during the 3rd quarter. Hollencrest Capital Management now owns 492 shares of the biopharmaceutical company’s stock valued at $25,000 after acquiring an additional 187 shares during the last quarter. Kennebec Savings Bank purchased a new position in shares of Bristol-Myers Squibb in the third quarter valued at $28,000. Darwin Wealth Management LLC purchased a new stake in Bristol-Myers Squibb during the third quarter valued at $29,000. Finally, Valued Wealth Advisors LLC lifted its position in Bristol-Myers Squibb by 1,168.1% during the third 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 last quarter. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Phil M. Holzer sold 700 shares of Bristol-Myers Squibb stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $55.62, for a total value of $38,934.00. Following the transaction, the senior vice president now owns 11,760 shares of the company’s stock, valued at $654,091.20. The trade was a 5.62 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Samit Hirawat bought 1,830 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were purchased at an average cost of $54.67 per share, with a total value of $100,046.10. Following the transaction, the executive vice president now directly owns 62,109 shares of the company’s stock, 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 company insiders.

Bristol-Myers Squibb Stock Down 0.1 %

BMY opened at $58.73 on Wednesday. The company has a debt-to-equity ratio of 2.83, a quick ratio of 1.09 and a current ratio of 1.24. The stock’s fifty day moving average is $54.02 and its two-hundred day moving average is $47.97. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $61.08.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.31. The firm had revenue of $11.89 billion during the quarter, compared to the consensus estimate of $11.26 billion. Bristol-Myers Squibb had a positive return on equity of 11.94% and a negative net margin of 15.30%. The firm’s quarterly revenue was up 8.4% on a year-over-year basis. During the same period in the previous year, the company posted $2.00 earnings per share. As a group, analysts predict that Bristol-Myers Squibb will post 0.93 earnings per share for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 4th were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 4.09%. The ex-dividend date was Friday, October 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is -66.85%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Wolfe Research began coverage on shares of Bristol-Myers Squibb in a report on Friday, November 15th. They issued a “peer perform” rating on the stock. TD Cowen boosted their price objective on Bristol-Myers Squibb from $53.00 to $59.00 and gave the stock a “hold” rating in a research note on Monday, October 7th. Morgan Stanley raised their price objective on Bristol-Myers Squibb from $36.00 to $39.00 and gave the company an “underweight” rating in a research note on Tuesday, November 12th. Leerink Partnrs raised Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 12th. Finally, Daiwa Capital Markets upgraded Bristol-Myers Squibb from a “neutral” rating to an “outperform” rating in a research report on Wednesday, November 13th. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, two have issued a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, Bristol-Myers Squibb has an average rating of “Hold” and a consensus price target of $54.07.

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.