Fmr LLC Raises Stake in Bristol-Myers Squibb (NYSE:BMY)

FMR LLC lifted its position in Bristol-Myers Squibb (NYSE:BMY - Free Report) by 10.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 44,940,609 shares of the biopharmaceutical company's stock after buying an additional 4,275,787 shares during the period. FMR LLC owned about 2.22% of Bristol-Myers Squibb worth $2,325,227,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Summit Financial Wealth Advisors LLC raised its stake in shares of Bristol-Myers Squibb by 2.4% in the third quarter. Summit Financial Wealth Advisors LLC now owns 9,658 shares of the biopharmaceutical company's stock worth $500,000 after purchasing an additional 225 shares during the last quarter. Dai ichi Life Insurance Company Ltd grew its stake in shares of Bristol-Myers Squibb by 308.7% in the third quarter. Dai ichi Life Insurance Company Ltd now owns 66,197 shares of the biopharmaceutical company's stock worth $3,425,000 after acquiring an additional 50,000 shares during the period. Patton Albertson Miller Group LLC purchased a new position in shares of Bristol-Myers Squibb during the third quarter valued at approximately $246,000. The Manufacturers Life Insurance Company lifted its position in Bristol-Myers Squibb by 1.8% during the third quarter. The Manufacturers Life Insurance Company now owns 1,711,074 shares of the biopharmaceutical company's stock valued at $88,531,000 after purchasing an additional 29,480 shares during the period. Finally, Horizon Kinetics Asset Management LLC boosted its holdings in Bristol-Myers Squibb by 31.9% in the third quarter. Horizon Kinetics Asset Management LLC now owns 59,382 shares of the biopharmaceutical company's stock worth $3,072,000 after purchasing an additional 14,364 shares during the last quarter. Institutional investors own 76.41% of the company's stock.

Bristol-Myers Squibb Stock Performance

Shares of BMY stock traded down $0.21 during trading hours on Tuesday, hitting $58.57. The company's stock had a trading volume of 4,524,861 shares, compared to its average volume of 14,319,020. The stock has a market cap of $118.79 billion, a PE ratio of -16.36, a price-to-earnings-growth ratio of 15.79 and a beta of 0.44. The company has a 50 day moving average of $53.83 and a 200 day moving average of $47.87. Bristol-Myers Squibb has a 12-month low of $39.35 and a 12-month high of $61.08. The company has a current ratio of 1.24, a quick ratio of 1.09 and a debt-to-equity ratio of 2.83.

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last posted its earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share for the quarter, beating 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 firm 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 firm earned $2.00 EPS. The business's quarterly revenue was up 8.4% on a year-over-year basis. On average, sell-side analysts forecast that Bristol-Myers Squibb will post 0.93 EPS for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 4th were paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 4.10%. The ex-dividend date was Friday, October 4th. Bristol-Myers Squibb's dividend payout ratio is currently -66.85%.

Wall Street Analysts Forecast Growth

BMY has been the subject of several research reports. Sanford C. Bernstein started coverage on shares of Bristol-Myers Squibb in a research report on Thursday, October 17th. They set a "market perform" rating and a $56.00 price target for the company. TD Cowen upped 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 Partners raised shares of Bristol-Myers Squibb from a "market perform" rating to an "outperform" rating and lifted their price objective for the stock from $55.00 to $73.00 in a research note on Tuesday, November 12th. Wolfe Research began coverage on Bristol-Myers Squibb in a research note on Friday, November 15th. They issued a "peer perform" rating on the stock. Finally, UBS Group lifted their price objective on Bristol-Myers Squibb from $50.00 to $54.00 and gave the company a "neutral" rating in a report on Wednesday, October 9th. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, two have assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, Bristol-Myers Squibb presently has a consensus rating of "Hold" and an average price target of $54.07.

Insider Activity

In other Bristol-Myers Squibb news, SVP Phil M. Holzer sold 700 shares of Bristol-Myers Squibb stock in a transaction dated 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 sale, the senior vice president now directly owns 11,760 shares in the company, valued at $654,091.20. This trade represents a 5.62 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Samit Hirawat acquired 1,830 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were bought at an average cost of $54.67 per share, with a total value of $100,046.10. Following the transaction, 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 position. The disclosure for this purchase can be found here. Company insiders own 0.09% of the company's stock.

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.