Kercheville Advisors LLC Purchases New Position in Bristol-Myers Squibb (NYSE:BMY)

Kercheville Advisors LLC purchased a new stake in shares of Bristol-Myers Squibb (NYSE:BMY) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 3,696 shares of the biopharmaceutical company’s stock, valued at approximately $209,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Contravisory Investment Management Inc. purchased a new position in shares of Bristol-Myers Squibb during the 4th quarter worth approximately $488,000. Inspire Trust Co. N.A. grew its holdings in shares of Bristol-Myers Squibb by 39.0% during the 3rd 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 holdings 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 acquiring an additional 206 shares during the period. Sheaff Brock Investment Advisors LLC grew its holdings in shares of Bristol-Myers Squibb by 34.3% during the 3rd quarter. Sheaff Brock Investment Advisors LLC now owns 44,546 shares of the biopharmaceutical company’s stock worth $2,305,000 after acquiring an additional 11,387 shares during the period. Finally, iA Global Asset Management Inc. grew its holdings in shares of Bristol-Myers Squibb by 81.3% during the 3rd quarter. iA Global Asset Management Inc. now owns 76,775 shares of the biopharmaceutical company’s stock worth $3,972,000 after acquiring an additional 34,418 shares during the period. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on BMY. Daiwa America raised Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 13th. Leerink Partners raised Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $55.00 to $73.00 in a research report on Tuesday, November 12th. Citigroup boosted their price target on Bristol-Myers Squibb from $60.00 to $65.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 28th. Wolfe Research began coverage on Bristol-Myers Squibb in a research report on Friday, November 15th. They issued a “peer perform” rating on the stock. Finally, Daiwa Capital Markets raised Bristol-Myers Squibb from a “neutral” rating to an “outperform” rating in a research report on Wednesday, November 13th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, four have assigned a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $56.93.

Bristol-Myers Squibb Price Performance

NYSE BMY opened at $59.66 on Thursday. The business’s fifty day moving average price is $57.64 and its 200-day moving average price is $53.59. The stock has a market capitalization of $121.01 billion, a price-to-earnings ratio of -16.62, a PEG ratio of 2.10 and a beta of 0.45. The company has a debt-to-equity ratio of 2.83, a current ratio of 1.24 and a quick ratio of 1.09. Bristol-Myers Squibb has a 1-year low of $39.35 and a 1-year high of $61.10.

Bristol-Myers Squibb Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, January 3rd were issued a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 4.16%. This is a boost from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. The ex-dividend date was Friday, January 3rd. Bristol-Myers Squibb’s dividend payout ratio is presently -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.