Portfolio Design Labs LLC Buys Shares of 37,706 Bristol-Myers Squibb (NYSE:BMY)

Portfolio Design Labs LLC bought a new stake in shares of Bristol-Myers Squibb (NYSE:BMY - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 37,706 shares of the biopharmaceutical company's stock, valued at approximately $1,951,000.

A number of other institutional investors have also bought and sold shares of BMY. Capital International Investors increased its position in shares of Bristol-Myers Squibb by 14.1% during the first quarter. Capital International Investors now owns 70,203,814 shares of the biopharmaceutical company's stock worth $3,807,153,000 after acquiring an additional 8,675,322 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Bristol-Myers Squibb by 77.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 12,547,823 shares of the biopharmaceutical company's stock worth $680,469,000 after acquiring an additional 5,461,767 shares during the period. Federated Hermes Inc. boosted its holdings in shares of Bristol-Myers Squibb by 86.3% in the 2nd quarter. Federated Hermes Inc. now owns 7,546,311 shares of the biopharmaceutical company's stock worth $313,398,000 after buying an additional 3,495,704 shares during the last quarter. Jennison Associates LLC grew its holdings in Bristol-Myers Squibb by 420.1% during the third 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. Finally, Swedbank AB bought a new stake in shares of Bristol-Myers Squibb in the first quarter valued at approximately $158,223,000. Institutional investors own 76.41% of the company's stock.

Bristol-Myers Squibb Price Performance

NYSE BMY traded down $0.35 during trading on Wednesday, hitting $57.88. 10,594,627 shares of the stock traded hands, compared to its average volume of 14,426,227. The firm has a 50-day simple moving average of $53.08 and a 200-day simple moving average of $47.47. Bristol-Myers Squibb has a 12-month low of $39.35 and a 12-month high of $61.08. The company has a quick ratio of 1.09, a current ratio of 1.24 and a debt-to-equity ratio of 2.83. The company has a market capitalization of $117.39 billion, a P/E ratio of -16.21, a price-to-earnings-growth ratio of 15.08 and a beta of 0.44.

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, topping analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $11.26 billion. During the same period in the previous year, the firm posted $2.00 EPS. The business's quarterly revenue was up 8.4% on a year-over-year basis. As a group, analysts predict that Bristol-Myers Squibb will post 0.93 EPS for the current year.

Bristol-Myers Squibb Announces Dividend

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

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Wolfe Research started coverage on shares of Bristol-Myers Squibb in a research note on Friday, November 15th. They set a "peer perform" rating for the company. Citigroup raised their price objective on Bristol-Myers Squibb from $55.00 to $60.00 and gave the company a "neutral" rating in a report on Tuesday, November 12th. Deutsche Bank Aktiengesellschaft reduced their price objective on Bristol-Myers Squibb from $53.00 to $45.00 and set a "hold" rating on the stock in a research note on Tuesday, July 23rd. 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, UBS Group lifted their price objective on Bristol-Myers Squibb from $50.00 to $54.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 9th. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, two have issued a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $54.07.

Insider Activity at Bristol-Myers Squibb

In related news, SVP Phil M. Holzer sold 700 shares of the company's stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $55.62, for a total value of $38,934.00. Following the completion of the sale, the senior vice president now directly owns 11,760 shares of the company's stock, valued at $654,091.20. This represents a 5.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Samit Hirawat purchased 1,830 shares of Bristol-Myers Squibb stock in a transaction dated Friday, November 1st. The stock was acquired at an average price of $54.67 per share, with a total value of $100,046.10. Following the acquisition, the executive vice president now owns 62,109 shares in the company, valued at approximately $3,395,499.03. This represents a 3.04 % increase in their position. The disclosure for this purchase can be found here. 0.09% of the stock is currently owned by company insiders.

About Bristol-Myers Squibb

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.