Simon Quick Advisors LLC Acquires 2,201 Shares of Bristol-Myers Squibb (NYSE:BMY)

Simon Quick Advisors LLC raised its stake in Bristol-Myers Squibb (NYSE:BMY) by 32.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 9,031 shares of the biopharmaceutical company’s stock after buying an additional 2,201 shares during the quarter. Simon Quick Advisors LLC’s holdings in Bristol-Myers Squibb were worth $511,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in BMY. EverSource Wealth Advisors LLC lifted its holdings in shares of Bristol-Myers Squibb by 14.1% in the second quarter. EverSource Wealth Advisors LLC now owns 5,695 shares of the biopharmaceutical company’s stock valued at $237,000 after purchasing an additional 703 shares in the last quarter. Public Sector Pension Investment Board boosted its position in Bristol-Myers Squibb by 71.2% during the 2nd quarter. Public Sector Pension Investment Board now owns 77,950 shares of the biopharmaceutical company’s stock worth $3,237,000 after acquiring an additional 32,407 shares during the last quarter. Magnetar Financial LLC bought a new position in shares of Bristol-Myers Squibb during the 2nd quarter worth approximately $636,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in shares of Bristol-Myers Squibb by 59.3% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 388,221 shares of the biopharmaceutical company’s stock valued at $16,123,000 after purchasing an additional 144,467 shares during the last quarter. Finally, Fred Alger Management LLC lifted its position in shares of Bristol-Myers Squibb by 9.9% in the second quarter. Fred Alger Management LLC now owns 41,496 shares of the biopharmaceutical company’s stock worth $1,723,000 after purchasing an additional 3,726 shares in the last quarter. Institutional investors and hedge funds own 76.41% of the company’s stock.

Insider Buying and Selling

In other news, SVP Phil M. Holzer sold 700 shares of the stock in a transaction on Monday, November 4th. The stock was sold at an average price of $55.62, for a total transaction of $38,934.00. Following the sale, the senior vice president now directly owns 11,760 shares of the company’s stock, valued at approximately $654,091.20. This represents a 5.62 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Samit Hirawat purchased 1,830 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was bought at an average cost of $54.67 per share, with a total value of $100,046.10. Following the purchase, the executive vice president now owns 62,109 shares of the company’s stock, valued at $3,395,499.03. This represents 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 currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on BMY. TD Cowen lifted their price target on shares of Bristol-Myers Squibb from $53.00 to $59.00 and gave the company a “hold” rating in a research note on Monday, October 7th. Leerink Partnrs upgraded Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 12th. Morgan Stanley raised 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. Cantor Fitzgerald reiterated a “neutral” rating and set a $50.00 price objective on shares of Bristol-Myers Squibb in a research note on Friday, October 18th. Finally, UBS Group raised 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. 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 assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $56.27.

Bristol-Myers Squibb Stock Up 0.1 %

BMY stock opened at $57.11 on Thursday. Bristol-Myers Squibb has a fifty-two week low of $39.35 and a fifty-two week high of $61.08. The company has a debt-to-equity ratio of 2.83, a current ratio of 1.24 and a quick ratio of 1.09. The stock has a market capitalization of $115.83 billion, a price-to-earnings ratio of -15.91, a PEG ratio of 1.98 and a beta of 0.45. The business’s fifty day moving average price is $57.42 and its two-hundred day moving average price is $52.33.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 EPS for the quarter, topping analysts’ consensus estimates of $1.49 by $0.31. The business had revenue of $11.89 billion for the quarter, compared to analyst estimates of $11.26 billion. Bristol-Myers Squibb had a negative net margin of 15.30% and a positive return on equity of 11.94%. Bristol-Myers Squibb’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period last year, the firm earned $2.00 earnings per share. On average, equities analysts anticipate that Bristol-Myers Squibb will post 0.92 earnings per share for the current year.

Bristol-Myers Squibb Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 3rd will be paid a $0.62 dividend. This is a boost from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. This represents a $2.48 annualized dividend and a dividend yield of 4.34%. The ex-dividend date is Friday, January 3rd. 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.