Eagle Asset Management Inc. Acquires Shares of 54,691 Bristol-Myers Squibb (NYSE:BMY)

Eagle Asset Management Inc. bought a new position in shares of Bristol-Myers Squibb (NYSE:BMY - Free Report) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 54,691 shares of the biopharmaceutical company's stock, valued at approximately $2,961,000.

Other large investors also recently modified their holdings of the company. Federated Hermes Inc. boosted its stake in Bristol-Myers Squibb by 86.3% in the second quarter. Federated Hermes Inc. now owns 7,546,311 shares of the biopharmaceutical company's stock valued at $313,398,000 after acquiring an additional 3,495,704 shares during the period. Jennison Associates LLC boosted its position in 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 during the period. Swedbank AB acquired a new stake in Bristol-Myers Squibb in the first quarter worth $158,223,000. State of Michigan Retirement System lifted its stake in Bristol-Myers Squibb by 147.7% in the second quarter. State of Michigan Retirement System now owns 4,767,133 shares of the biopharmaceutical company's stock valued at $197,979,000 after buying an additional 2,842,400 shares during the last quarter. Finally, Mizuho Markets Americas LLC boosted its holdings in shares of Bristol-Myers Squibb by 1,172.5% during the second quarter. Mizuho Markets Americas LLC now owns 2,799,600 shares of the biopharmaceutical company's stock valued at $116,267,000 after acquiring an additional 2,579,600 shares during the period. 76.41% of the stock is currently owned by institutional investors.

Insider Activity at Bristol-Myers Squibb

In related news, EVP Samit Hirawat acquired 1,830 shares of the company's stock in a transaction on Friday, November 1st. The stock was purchased 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 of the company's stock, valued at $3,395,499.03. The trade was a 3.04 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Phil M. Holzer sold 700 shares of the company'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 directly owns 11,760 shares in the company, valued at approximately $654,091.20. The trade was a 5.62 % decrease in their position. The disclosure for this sale can be found here. 0.09% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. UBS Group raised their price target 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. Jefferies Financial Group lifted their price target on shares of Bristol-Myers Squibb from $49.00 to $51.00 and gave the stock a "hold" rating in a research report on Wednesday, August 28th. Daiwa Capital Markets raised shares of Bristol-Myers Squibb from a "neutral" rating to an "outperform" rating in a research note on Wednesday, November 13th. Sanford C. Bernstein initiated coverage on shares of Bristol-Myers Squibb in a report on Thursday, October 17th. They issued a "market perform" rating and a $56.00 target price for the company. Finally, StockNews.com upgraded shares of Bristol-Myers Squibb from a "buy" rating to a "strong-buy" rating in a report on Monday, July 29th. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating, two have issued a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $54.07.

Bristol-Myers Squibb Stock Performance

NYSE:BMY traded down $0.05 during midday trading on Tuesday, reaching $58.73. The stock had a trading volume of 7,432,396 shares, compared to its average volume of 14,333,203. 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 current ratio of 1.24 and a quick ratio of 1.09. The stock has a market capitalization of $119.11 billion, a P/E ratio of -16.36, a PEG ratio of 15.79 and a beta of 0.44. The firm's fifty day simple moving average is $54.02 and its 200-day simple moving average is $47.97.

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last issued 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. Bristol-Myers Squibb had a positive return on equity of 11.94% and a negative net margin of 15.30%. The company had revenue of $11.89 billion during the quarter, compared to analyst estimates of $11.26 billion. During the same period in the previous year, the company earned $2.00 earnings per share. The company's quarterly revenue was up 8.4% compared to the same quarter last year. On average, equities research analysts forecast that Bristol-Myers Squibb will post 0.93 EPS for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 4th were given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.09%. The ex-dividend date was Friday, October 4th. Bristol-Myers Squibb's dividend payout ratio is currently -66.85%.

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.