Premier Fund Managers Ltd Invests $8.67 Million in Bristol-Myers Squibb (NYSE:BMY)

Premier Fund Managers Ltd acquired 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 filing with the SEC. The firm acquired 170,200 shares of the biopharmaceutical company's stock, valued at approximately $8,666,000.

Several other large investors also recently added to or reduced their stakes in the stock. Capital International Investors boosted its holdings in shares of Bristol-Myers Squibb by 14.1% in the first quarter. Capital International Investors now owns 70,203,814 shares of the biopharmaceutical company's stock valued at $3,807,153,000 after purchasing an additional 8,675,322 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of Bristol-Myers Squibb by 77.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,547,823 shares of the biopharmaceutical company's stock worth $680,469,000 after buying an additional 5,461,767 shares in the last quarter. Federated Hermes Inc. increased its stake in shares of Bristol-Myers Squibb by 86.3% during the second quarter. Federated Hermes Inc. now owns 7,546,311 shares of the biopharmaceutical company's stock valued at $313,398,000 after buying an additional 3,495,704 shares during the period. Swedbank AB bought a new stake in shares of Bristol-Myers Squibb in the first quarter valued at about $158,223,000. Finally, State of Michigan Retirement System grew its holdings in Bristol-Myers Squibb by 147.7% during the 2nd quarter. State of Michigan Retirement System now owns 4,767,133 shares of the biopharmaceutical company's stock worth $197,979,000 after acquiring an additional 2,842,400 shares in the last quarter. 76.41% of the stock is owned by hedge funds and other institutional investors.

Bristol-Myers Squibb Stock Performance

BMY traded down $0.38 during midday trading on Wednesday, hitting $57.85. 3,153,439 shares of the company were exchanged, compared to its average volume of 14,387,864. The company's 50 day simple moving average is $53.08 and its 200 day simple moving average is $47.47. The firm has a market capitalization of $117.33 billion, a price-to-earnings ratio of -16.21, a price-to-earnings-growth ratio of 15.08 and a beta of 0.44. Bristol-Myers Squibb has a 1-year low of $39.35 and a 1-year 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 announced its quarterly 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 positive return on equity of 11.94% and a negative net margin of 15.30%. The company had revenue of $11.89 billion during the quarter, compared to analysts' expectations of $11.26 billion. During the same period last year, the business earned $2.00 earnings per share. Bristol-Myers Squibb's quarterly revenue was up 8.4% on a year-over-year basis. As a group, sell-side analysts predict that Bristol-Myers Squibb will post 0.93 earnings per share for the current year.

Bristol-Myers Squibb Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 4th were given 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 yield of 4.15%. Bristol-Myers Squibb's dividend payout ratio is presently -66.85%.

Analyst Ratings Changes

Several analysts have issued reports on BMY shares. StockNews.com raised Bristol-Myers Squibb from a "buy" rating to a "strong-buy" rating in a research report on Monday, July 29th. Jefferies Financial Group increased their target price on shares of Bristol-Myers Squibb from $49.00 to $51.00 and gave the company a "hold" rating in a research report on Wednesday, August 28th. Leerink Partners raised Bristol-Myers Squibb from a "market perform" rating to an "outperform" rating and upped their price target for the stock from $55.00 to $73.00 in a research report on Tuesday, November 12th. Daiwa Capital Markets raised Bristol-Myers Squibb from a "neutral" rating to an "outperform" rating in a research report on Wednesday, November 13th. Finally, Cantor Fitzgerald reiterated a "neutral" rating and issued a $50.00 price target on shares of Bristol-Myers Squibb in a research note on Friday, October 18th. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, two have issued a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $54.07.

Insiders Place Their Bets

In other Bristol-Myers Squibb news, EVP Samit Hirawat bought 1,830 shares of Bristol-Myers Squibb stock in a transaction dated Friday, November 1st. The stock was acquired at an average cost of $54.67 per share, with a total value of $100,046.10. Following the purchase, the executive vice president now directly owns 62,109 shares in the company, valued at $3,395,499.03. This represents a 3.04 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Phil M. Holzer sold 700 shares of Bristol-Myers Squibb stock in a transaction 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 sale, the senior vice president now directly owns 11,760 shares in the company, valued at $654,091.20. This represents a 5.62 % decrease in their position. The disclosure for this sale can be found here. 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.