Inspire Trust Co. N.A. raised its holdings in shares of Bristol-Myers Squibb (NYSE:BMY - Free Report) by 39.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 103,500 shares of the biopharmaceutical company's stock after purchasing an additional 29,044 shares during the period. Bristol-Myers Squibb accounts for about 1.5% of Inspire Trust Co. N.A.'s holdings, making the stock its 15th largest holding. Inspire Trust Co. N.A.'s holdings in Bristol-Myers Squibb were worth $5,355,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of the business. FMR LLC boosted its holdings in Bristol-Myers Squibb by 10.5% in the third quarter. FMR LLC now owns 44,940,609 shares of the biopharmaceutical company's stock valued at $2,325,227,000 after acquiring an additional 4,275,787 shares in the last quarter. Federated Hermes Inc. lifted its position in shares of Bristol-Myers Squibb by 86.3% in the 2nd quarter. Federated Hermes Inc. now owns 7,546,311 shares of the biopharmaceutical company's stock worth $313,398,000 after purchasing an additional 3,495,704 shares during the period. Jennison Associates LLC boosted its stake in shares of Bristol-Myers Squibb by 420.1% during the 3rd quarter. Jennison Associates LLC now owns 4,241,255 shares of the biopharmaceutical company's stock valued at $219,443,000 after purchasing an additional 3,425,789 shares in the last quarter. Janus Henderson Group PLC increased its position in shares of Bristol-Myers Squibb by 695.1% during the third quarter. Janus Henderson Group PLC now owns 3,554,758 shares of the biopharmaceutical company's stock valued at $183,971,000 after buying an additional 3,107,672 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Bristol-Myers Squibb by 18.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 19,074,823 shares of the biopharmaceutical company's stock worth $986,931,000 after buying an additional 3,002,418 shares in the last quarter. Hedge funds and other institutional investors own 76.41% of the company's stock.
Bristol-Myers Squibb Trading Down 0.9 %
Shares of NYSE BMY traded down $0.51 during midday trading on Friday, hitting $55.77. 9,404,980 shares of the stock traded hands, compared to its average volume of 14,042,877. Bristol-Myers Squibb has a one year low of $39.35 and a one year 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 firm has a 50-day moving average of $55.82 and a two-hundred day moving average of $49.17.
Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last announced its earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.31. Bristol-Myers Squibb had a positive return on equity of 11.94% and a negative net margin of 15.30%. The business had revenue of $11.89 billion for the quarter, compared to analysts' expectations of $11.26 billion. During the same period last year, the firm posted $2.00 earnings per share. The business's revenue for the quarter was up 8.4% on a year-over-year basis. As a group, equities research analysts forecast that Bristol-Myers Squibb will post 0.93 earnings per share for the current fiscal year.
Bristol-Myers Squibb Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders 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 is an increase from Bristol-Myers Squibb's previous quarterly dividend of $0.60. This represents a $2.48 annualized dividend and a yield of 4.45%. Bristol-Myers Squibb's dividend payout ratio (DPR) is presently -66.85%.
Insider Transactions at Bristol-Myers Squibb
In related news, SVP Phil M. Holzer sold 700 shares of Bristol-Myers Squibb stock in a transaction on Monday, November 4th. The shares were sold at an average price of $55.62, for a total transaction of $38,934.00. Following the transaction, the senior vice president now owns 11,760 shares in the company, valued at approximately $654,091.20. The trade was a 5.62 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Samit Hirawat purchased 1,830 shares of the business's stock in a transaction on Friday, November 1st. The stock was acquired at an average price of $54.67 per share, with a total value of $100,046.10. Following the purchase, the executive vice president now directly owns 62,109 shares in the company, valued at $3,395,499.03. This represents a 3.04 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.09% of the company's stock.
Wall Street Analyst Weigh In
Several analysts have weighed in on BMY shares. Morgan Stanley lifted their price objective on Bristol-Myers Squibb from $36.00 to $39.00 and gave the company an "underweight" rating in a research report on Tuesday, November 12th. Barclays lifted their price target on Bristol-Myers Squibb from $42.00 to $43.00 and gave the company an "underweight" rating in a research report on Monday, October 7th. Cantor Fitzgerald reiterated a "neutral" rating and issued a $50.00 price objective on shares of Bristol-Myers Squibb in a report on Friday, October 18th. Sanford C. Bernstein assumed coverage on shares of Bristol-Myers Squibb in a report on Thursday, October 17th. They set a "market perform" rating and a $56.00 target price on the stock. Finally, Leerink Partnrs upgraded shares of Bristol-Myers Squibb from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, November 12th. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating, two have given a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $54.29.
Check Out Our Latest Research Report on BMY
Bristol-Myers Squibb Company Profile
(
Free Report)
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.
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