Bristol-Myers Squibb (NYSE:BMY) Shares Purchased by Jennison Associates LLC

Jennison Associates LLC raised its position in Bristol-Myers Squibb (NYSE:BMY - Free Report) by 420.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,241,255 shares of the biopharmaceutical company's stock after purchasing an additional 3,425,789 shares during the period. Jennison Associates LLC owned 0.21% of Bristol-Myers Squibb worth $219,443,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Meridian Management Co. lifted 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 last quarter. Hollencrest Capital Management lifted its position 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 acquiring an additional 187 shares during the last quarter. Mayflower Financial Advisors LLC boosted its stake in Bristol-Myers Squibb by 2.3% in the third quarter. Mayflower Financial Advisors LLC now owns 8,466 shares of the biopharmaceutical company's stock valued at $438,000 after acquiring an additional 192 shares in the last quarter. Patriot Financial Group Insurance Agency LLC grew its holdings in shares of Bristol-Myers Squibb by 3.8% during the third quarter. Patriot Financial Group Insurance Agency LLC now owns 5,595 shares of the biopharmaceutical company's stock worth $289,000 after purchasing an additional 206 shares during the last quarter. Finally, Legacy Wealth Asset Management LLC increased its position in shares of Bristol-Myers Squibb by 2.1% during the third quarter. Legacy Wealth Asset Management LLC now owns 10,288 shares of the biopharmaceutical company's stock worth $532,000 after purchasing an additional 215 shares in the last quarter. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BMY has been the topic of several research analyst reports. Citigroup lifted their price target on Bristol-Myers Squibb from $55.00 to $60.00 and gave the stock a "neutral" rating in a research report on Tuesday, November 12th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Bristol-Myers Squibb from $53.00 to $45.00 and set a "hold" rating for the company in a research report on Tuesday, July 23rd. Daiwa Capital Markets raised shares of Bristol-Myers Squibb from a "neutral" rating to an "outperform" rating in a research report on Wednesday, November 13th. Jefferies Financial Group upped their target price on shares of Bristol-Myers Squibb from $49.00 to $51.00 and gave the company a "hold" rating in a report on Wednesday, August 28th. Finally, UBS Group increased their target price on shares of Bristol-Myers Squibb from $50.00 to $54.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 9th. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, two have issued a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $54.07.

Bristol-Myers Squibb Price Performance

BMY traded down $0.35 during trading on Wednesday, reaching $57.88. 10,578,931 shares of the stock were exchanged, compared to its average volume of 14,407,509. Bristol-Myers Squibb has a 1 year low of $39.35 and a 1 year high of $61.08. The company has a market capitalization of $117.39 billion, a price-to-earnings ratio of -16.21, a P/E/G ratio of 15.08 and a beta of 0.44. The business's 50 day moving average price is $53.08 and its two-hundred day moving average price is $47.47. 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 (NYSE:BMY - Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share (EPS) 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 company had revenue of $11.89 billion for the quarter, compared to the consensus estimate of $11.26 billion. During the same quarter in the prior year, the firm earned $2.00 earnings per share. The company's revenue for the quarter was up 8.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Bristol-Myers Squibb will post 0.93 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 4th were paid a dividend of $0.60 per share. The ex-dividend date of this dividend was Friday, October 4th. This represents a $2.40 annualized dividend and a dividend yield of 4.15%. Bristol-Myers Squibb's dividend payout ratio is currently -66.85%.

Insider Activity at Bristol-Myers Squibb

In other news, EVP Samit Hirawat purchased 1,830 shares of the firm's stock in a transaction that occurred on Friday, November 1st. The stock was acquired 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 owns 62,109 shares of the company's stock, valued at approximately $3,395,499.03. This trade represents a 3.04 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Phil M. Holzer sold 700 shares of the company's stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $55.62, for a total value of $38,934.00. Following the sale, the senior vice president now directly owns 11,760 shares in the company, valued at approximately $654,091.20. This represents a 5.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.09% of the company's stock.

Bristol-Myers Squibb 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.