Ontario Teachers Pension Plan Board Sells 86,115 Shares of Bristol-Myers Squibb (NYSE:BMY)

Ontario Teachers Pension Plan Board lowered its stake in Bristol-Myers Squibb (NYSE:BMY) by 61.0% during the 3rd quarter, HoldingsChannel reports. The firm owned 54,945 shares of the biopharmaceutical company’s stock after selling 86,115 shares during the period. Ontario Teachers Pension Plan Board’s holdings in Bristol-Myers Squibb were worth $2,843,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. First Horizon Advisors Inc. boosted its stake in shares of Bristol-Myers Squibb by 281.0% during the 3rd quarter. First Horizon Advisors Inc. now owns 395,386 shares of the biopharmaceutical company’s stock worth $20,457,000 after acquiring an additional 291,613 shares during the last quarter. Advisors Asset Management Inc. boosted its stake in shares of Bristol-Myers Squibb by 30.1% during the 3rd quarter. Advisors Asset Management Inc. now owns 212,439 shares of the biopharmaceutical company’s stock worth $10,992,000 after acquiring an additional 49,137 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Bristol-Myers Squibb during the 3rd quarter worth $3,579,000. Briaud Financial Planning Inc boosted its stake in shares of Bristol-Myers Squibb by 35.4% during the 3rd quarter. Briaud Financial Planning Inc now owns 1,536 shares of the biopharmaceutical company’s stock worth $79,000 after acquiring an additional 402 shares during the last quarter. Finally, Factorial Partners LLC boosted its stake in shares of Bristol-Myers Squibb by 4.3% during the 3rd quarter. Factorial Partners LLC now owns 36,500 shares of the biopharmaceutical company’s stock worth $1,889,000 after acquiring an additional 1,500 shares during the last quarter. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on BMY shares. UBS Group lifted 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 note on Wednesday, October 9th. StockNews.com upgraded shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Monday, July 29th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating on the stock in a report on Tuesday, July 23rd. Leerink Partners upgraded shares of Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $55.00 to $73.00 in a report on Tuesday, November 12th. Finally, Morgan Stanley boosted their target price on shares of Bristol-Myers Squibb from $36.00 to $39.00 and gave the stock an “underweight” rating in a report on Tuesday, November 12th. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating, two have assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, Bristol-Myers Squibb has an average rating of “Hold” and an average price target of $54.07.

Insider Activity at Bristol-Myers Squibb

In related news, EVP Samit Hirawat acquired 1,830 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The shares were acquired at an average cost of $54.67 per share, for a total transaction of $100,046.10. Following the completion of the purchase, the executive vice president now directly owns 62,109 shares in the company, valued at $3,395,499.03. This trade represents a 3.04 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Phil M. Holzer sold 700 shares of the business’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $55.62, for a total transaction of $38,934.00. Following the completion of the sale, the senior vice president now owns 11,760 shares in the company, 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 owned by corporate insiders.

Bristol-Myers Squibb Price Performance

Bristol-Myers Squibb stock opened at $58.21 on Wednesday. The company’s 50 day simple moving average is $53.08 and its 200-day simple moving average is $47.47. The company has a market capitalization of $118.06 billion, a price-to-earnings ratio of -16.21, a price-to-earnings-growth ratio of 15.08 and a beta of 0.44. Bristol-Myers Squibb has a 1 year low of $39.35 and a 1 year high of $61.08. 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 posted its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 EPS for the quarter, topping the consensus estimate of $1.49 by $0.31. Bristol-Myers Squibb had a negative net margin of 15.30% and a positive return on equity of 11.94%. The company had revenue of $11.89 billion during the quarter, compared to analysts’ expectations of $11.26 billion. During the same quarter in the previous year, the business posted $2.00 EPS. The firm’s revenue was up 8.4% on a year-over-year basis. As a group, equities research analysts expect that Bristol-Myers Squibb will post 0.93 earnings per share for the current year.

Bristol-Myers Squibb Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 4th were issued a $0.60 dividend. The ex-dividend date of this dividend was Friday, October 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.12%. Bristol-Myers Squibb’s dividend payout ratio is presently -66.85%.

Bristol-Myers Squibb 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.