Foundation Resource Management Inc. Sells 773 Shares of Bristol-Myers Squibb (NYSE:BMY)

Foundation Resource Management Inc. cut its position in Bristol-Myers Squibb (NYSE:BMY) by 0.5% in the 4th quarter, HoldingsChannel.com reports. The firm owned 156,519 shares of the biopharmaceutical company’s stock after selling 773 shares during the period. Bristol-Myers Squibb comprises about 1.5% of Foundation Resource Management Inc.’s portfolio, making the stock its 24th biggest holding. Foundation Resource Management Inc.’s holdings in Bristol-Myers Squibb were worth $8,853,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BMY. Inspire Trust Co. N.A. increased its position in Bristol-Myers Squibb by 39.0% during the third quarter. Inspire Trust Co. N.A. now owns 103,500 shares of the biopharmaceutical company’s stock worth $5,355,000 after acquiring an additional 29,044 shares during the period. Patriot Financial Group Insurance Agency LLC grew its position in shares of Bristol-Myers Squibb by 3.8% during the 3rd 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 in the last quarter. Sheaff Brock Investment Advisors LLC increased its holdings in shares of Bristol-Myers Squibb by 34.3% during the third quarter. Sheaff Brock Investment Advisors LLC now owns 44,546 shares of the biopharmaceutical company’s stock worth $2,305,000 after purchasing an additional 11,387 shares during the period. iA Global Asset Management Inc. raised its position in shares of Bristol-Myers Squibb by 81.3% in the third quarter. iA Global Asset Management Inc. now owns 76,775 shares of the biopharmaceutical company’s stock valued at $3,972,000 after buying an additional 34,418 shares in the last quarter. Finally, Bellevue Group AG acquired a new stake in Bristol-Myers Squibb during the third quarter worth approximately $1,905,000. 76.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BMY has been the subject of several analyst reports. Jefferies Financial Group raised Bristol-Myers Squibb from a “hold” rating to a “buy” rating and lifted their price objective for the company from $63.00 to $70.00 in a report on Monday, December 16th. Morgan Stanley boosted their price target 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. Barclays increased their price objective on shares of Bristol-Myers Squibb from $42.00 to $43.00 and gave the stock an “underweight” rating in a research note on Monday, October 7th. UBS Group boosted their target price on shares of Bristol-Myers Squibb from $50.00 to $54.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. Finally, Citigroup increased their price target 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. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating, four have given a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Bristol-Myers Squibb has an average rating of “Hold” and a consensus price target of $56.27.

Insider Transactions at Bristol-Myers Squibb

In other news, EVP Samit Hirawat purchased 1,830 shares of the business’s stock in a transaction on Friday, November 1st. The shares were acquired at an average price 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 of the company’s stock, valued at $3,395,499.03. The trade was a 3.04 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Phil M. Holzer sold 700 shares of Bristol-Myers Squibb stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $55.62, for a total value of $38,934.00. Following the completion of the transaction, the senior vice president now directly owns 11,760 shares of the company’s stock, valued at approximately $654,091.20. This trade represents a 5.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by corporate insiders.

Bristol-Myers Squibb Stock Performance

NYSE BMY opened at $55.73 on Wednesday. The company has a market capitalization of $113.03 billion, a price-to-earnings ratio of -15.52, a PEG ratio of 15.20 and a beta of 0.45. Bristol-Myers Squibb has a twelve month low of $39.35 and a twelve month high of $61.08. The stock has a fifty day simple moving average of $57.44 and a 200 day simple moving average of $51.76. 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 (NYSE:BMY) last issued its quarterly earnings results 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 company had revenue of $11.89 billion during the quarter, compared to analysts’ expectations 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 business’s quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.00 earnings per share. Sell-side analysts expect that Bristol-Myers Squibb will post 0.93 EPS for the current year.

Bristol-Myers Squibb Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 3rd will be given a $0.62 dividend. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.45%. This is an increase from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. Bristol-Myers Squibb’s payout ratio is -69.08%.

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.