Jackson Square Capital LLC Acquires New Holdings in Bristol-Myers Squibb (NYSE:BMY)

Jackson Square Capital LLC purchased a new position in Bristol-Myers Squibb (NYSE:BMY - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 24,206 shares of the biopharmaceutical company's stock, valued at approximately $1,369,000.

A number of other institutional investors have also made changes to their positions in BMY. Meridian Management Co. grew its position in shares of Bristol-Myers Squibb by 0.6% during the 3rd quarter. Meridian Management Co. now owns 28,283 shares of the biopharmaceutical company's stock worth $1,463,000 after buying an additional 182 shares during the period. Hollencrest Capital Management increased its stake in Bristol-Myers Squibb by 61.3% in the third quarter. Hollencrest Capital Management now owns 492 shares of the biopharmaceutical company's stock valued at $25,000 after purchasing an additional 187 shares in the last quarter. Dunhill Financial LLC raised its holdings in Bristol-Myers Squibb by 39.8% in the third quarter. Dunhill Financial LLC now owns 664 shares of the biopharmaceutical company's stock worth $34,000 after purchasing an additional 189 shares during the period. Mayflower Financial Advisors LLC boosted its position in shares of Bristol-Myers Squibb by 2.3% during the third quarter. Mayflower Financial Advisors LLC now owns 8,466 shares of the biopharmaceutical company's stock worth $438,000 after purchasing an additional 192 shares in the last quarter. Finally, Lakewood Asset Management LLC grew its holdings in shares of Bristol-Myers Squibb by 0.7% in the 4th quarter. Lakewood Asset Management LLC now owns 26,867 shares of the biopharmaceutical company's stock valued at $1,520,000 after buying an additional 195 shares during the period. 76.41% of the stock is owned by institutional investors and hedge funds.

Bristol-Myers Squibb Stock Performance

Shares of BMY traded down $0.03 during mid-day trading on Friday, hitting $56.35. 10,909,530 shares of the company's stock were exchanged, compared to its average volume of 10,195,547. The company has a quick ratio of 1.09, a current ratio of 1.24 and a debt-to-equity ratio of 2.83. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $61.08. The stock's 50-day simple moving average is $57.53 and its 200-day simple moving average is $52.00. The firm has a market cap of $114.30 billion, a price-to-earnings ratio of -15.70, a price-to-earnings-growth ratio of 1.95 and a beta of 0.45.

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $11.89 billion for the quarter, compared to analyst estimates 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 company's revenue was up 8.4% on a year-over-year basis. During the same quarter last year, the company earned $2.00 EPS. On average, equities research analysts expect that Bristol-Myers Squibb will post 0.93 EPS for the current year.

Bristol-Myers Squibb Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 3rd will be issued a $0.62 dividend. This is a positive change from Bristol-Myers Squibb's previous quarterly dividend of $0.60. This represents a $2.48 annualized dividend and a yield of 4.40%. The ex-dividend date of this dividend is Friday, January 3rd. Bristol-Myers Squibb's dividend payout ratio (DPR) is currently -69.08%.

Insider Activity

In other Bristol-Myers Squibb news, EVP Samit Hirawat acquired 1,830 shares of Bristol-Myers Squibb stock in a transaction that occurred on Friday, November 1st. The shares were acquired at an average cost of $54.67 per share, with a total value 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. This represents a 3.04 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Phil M. Holzer sold 700 shares of the 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 transaction, the senior vice president now directly owns 11,760 shares of the company's stock, valued at $654,091.20. This trade represents a 5.62 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.09% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on BMY shares. Wolfe Research initiated coverage on Bristol-Myers Squibb in a report on Friday, November 15th. They set a "peer perform" rating on the stock. BMO Capital Markets increased their target price on Bristol-Myers Squibb from $57.00 to $61.00 and gave the stock a "market perform" rating in a research note on Tuesday, November 12th. Morgan Stanley lifted their price target on shares of Bristol-Myers Squibb from $36.00 to $39.00 and gave the company an "underweight" rating in a research note on Tuesday, November 12th. Daiwa Capital Markets upgraded shares of Bristol-Myers Squibb from a "neutral" rating to an "outperform" rating in a report on Wednesday, November 13th. Finally, Sanford C. Bernstein started coverage on shares of Bristol-Myers Squibb in a research note on Thursday, October 17th. They issued a "market perform" rating and a $56.00 target price for the company. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating, four have issued a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $56.27.

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.