Exome Asset Management LLC Makes New $4.04 Million Investment in Bristol-Myers Squibb (NYSE:BMY)

Exome Asset Management LLC purchased a new stake in shares of Bristol-Myers Squibb (NYSE:BMY - Free Report) during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund purchased 78,000 shares of the biopharmaceutical company's stock, valued at approximately $4,036,000. Bristol-Myers Squibb comprises 2.7% of Exome Asset Management LLC's investment portfolio, making the stock its 11th biggest holding.

A number of other hedge funds have also modified their holdings of the company. Birmingham Capital Management Co. Inc. AL lifted its position in Bristol-Myers Squibb by 6.2% during the third quarter. Birmingham Capital Management Co. Inc. AL now owns 47,941 shares of the biopharmaceutical company's stock valued at $2,480,000 after purchasing an additional 2,800 shares during the period. Inspire Trust Co. N.A. lifted its holdings in shares of Bristol-Myers Squibb by 39.0% in the 3rd quarter. Inspire Trust Co. N.A. now owns 103,500 shares of the biopharmaceutical company's stock valued at $5,355,000 after buying an additional 29,044 shares during the period. Synovus Financial Corp boosted its stake in shares of Bristol-Myers Squibb by 0.3% in the third quarter. Synovus Financial Corp now owns 260,181 shares of the biopharmaceutical company's stock worth $13,462,000 after buying an additional 822 shares during the last quarter. Optimist Retirement Group LLC acquired a new stake in Bristol-Myers Squibb during the third quarter worth about $2,258,000. Finally, Wilmington Savings Fund Society FSB raised its position in Bristol-Myers Squibb by 85.0% during the third quarter. Wilmington Savings Fund Society FSB now owns 159,681 shares of the biopharmaceutical company's stock valued at $8,262,000 after acquiring an additional 73,383 shares in the last quarter. 76.41% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, SVP Phil M. Holzer sold 700 shares of the stock in a transaction that occurred 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 completion of the transaction, the senior vice president now owns 11,760 shares of the company's stock, valued at approximately $654,091.20. This trade represents a 5.62 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Samit Hirawat bought 1,830 shares of the business'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 transaction, the executive vice president now owns 62,109 shares of the company's stock, valued at $3,395,499.03. This trade represents a 3.04 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.09% of the company's stock.

Bristol-Myers Squibb Price Performance

NYSE BMY traded down $0.50 during trading hours on Friday, hitting $55.78. 9,406,135 shares of the company's stock traded hands, compared to its average volume of 14,042,877. The company has a market capitalization of $113.13 billion, a PE ratio of -15.54, a PEG ratio of 15.20 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 52-week low of $39.35 and a 52-week high of $61.08. The firm's 50-day moving average is $55.86 and its 200-day moving average is $49.34.

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 EPS for the quarter, beating the consensus estimate of $1.49 by $0.31. The firm had revenue of $11.89 billion during the quarter, compared to analysts' expectations of $11.26 billion. Bristol-Myers Squibb had a positive return on equity of 11.94% and a negative net margin of 15.30%. The business's revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter last year, the firm earned $2.00 earnings per share. Equities analysts forecast that Bristol-Myers Squibb will post 0.93 EPS for the current fiscal year.

Bristol-Myers Squibb Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders 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. The ex-dividend date is Friday, January 3rd. This represents a $2.48 annualized dividend and a dividend yield of 4.45%. Bristol-Myers Squibb's dividend payout ratio is -69.08%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on BMY shares. Jefferies Financial Group raised their price objective on shares of Bristol-Myers Squibb from $49.00 to $51.00 and gave the stock a "hold" rating in a research note on Wednesday, August 28th. Bank of America restated a "neutral" rating and set a $63.00 price target on shares of Bristol-Myers Squibb in a research report on Tuesday. Barclays upped their price objective on shares of Bristol-Myers Squibb from $42.00 to $43.00 and gave the stock an "underweight" rating in a research report on Monday, October 7th. Leerink Partners upgraded Bristol-Myers Squibb from a "market perform" rating to an "outperform" rating and lifted their price target for the company from $55.00 to $73.00 in a research note on Tuesday, November 12th. Finally, TD Cowen increased their price target on Bristol-Myers Squibb from $53.00 to $59.00 and gave the stock a "hold" rating in a research report on Monday, October 7th. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, two have given a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $54.29.

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.