Quest Partners LLC Decreases Stock Holdings in Bristol-Myers Squibb (NYSE:BMY)

Quest Partners LLC reduced its holdings in shares of Bristol-Myers Squibb (NYSE:BMY - Free Report) by 70.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,156 shares of the biopharmaceutical company's stock after selling 28,722 shares during the period. Quest Partners LLC's holdings in Bristol-Myers Squibb were worth $629,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in BMY. Patriot Financial Group Insurance Agency LLC raised its position in Bristol-Myers Squibb by 3.8% in the 3rd 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 period. Sheaff Brock Investment Advisors LLC lifted its stake in shares of Bristol-Myers Squibb by 34.3% in the 3rd quarter. Sheaff Brock Investment Advisors LLC now owns 44,546 shares of the biopharmaceutical company's stock valued at $2,305,000 after acquiring an additional 11,387 shares during the last quarter. Graypoint LLC boosted its holdings in Bristol-Myers Squibb by 29.4% during the 3rd quarter. Graypoint LLC now owns 11,293 shares of the biopharmaceutical company's stock valued at $584,000 after acquiring an additional 2,563 shares during the period. Xponance Inc. grew its position in Bristol-Myers Squibb by 8.8% during the 2nd quarter. Xponance Inc. now owns 317,381 shares of the biopharmaceutical company's stock worth $13,181,000 after acquiring an additional 25,543 shares during the last quarter. Finally, Plato Investment Management Ltd increased its stake in Bristol-Myers Squibb by 25.4% in the 2nd quarter. Plato Investment Management Ltd now owns 103,954 shares of the biopharmaceutical company's stock worth $4,317,000 after purchasing an additional 21,041 shares during the period. 76.41% of the stock is owned by hedge funds and other institutional investors.

Bristol-Myers Squibb Stock Up 1.1 %

Shares of Bristol-Myers Squibb stock opened at $58.87 on Friday. Bristol-Myers Squibb has a 1 year low of $39.35 and a 1 year high of $61.08. The firm has a market cap of $119.40 billion, a price-to-earnings ratio of -16.40, a PEG ratio of 15.62 and a beta of 0.44. The company has a 50-day moving average of $53.66 and a 200 day moving average of $47.72. 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 earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share for the quarter, beating 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 business had revenue of $11.89 billion during the quarter, compared to the consensus estimate of $11.26 billion. During the same quarter last year, the firm earned $2.00 earnings per share. The business's revenue for the quarter was up 8.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Bristol-Myers Squibb will post 0.93 earnings per share for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 4th were paid a $0.60 dividend. The ex-dividend date was Friday, October 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.08%. Bristol-Myers Squibb's dividend payout ratio is currently -66.85%.

Insider Activity

In related news, SVP Phil M. Holzer sold 700 shares of the business'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 completion of the transaction, the senior vice president now directly owns 11,760 shares in the company, valued at $654,091.20. The trade was a 5.62 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Samit Hirawat bought 1,830 shares of the business's stock in a transaction on Friday, November 1st. The shares were acquired at an average price 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 in the company, valued at approximately $3,395,499.03. The trade was a 3.04 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.09% of the company's stock.

Wall Street Analyst Weigh In

BMY has been the subject of a number of analyst reports. Citigroup increased their price objective on Bristol-Myers Squibb from $55.00 to $60.00 and gave the company a "neutral" rating in a research note on Tuesday, November 12th. Morgan Stanley raised their price target on shares of Bristol-Myers Squibb from $36.00 to $39.00 and gave the stock an "underweight" rating in a report on Tuesday, November 12th. StockNews.com raised shares of Bristol-Myers Squibb from a "buy" rating to a "strong-buy" rating in a research note on Monday, July 29th. Cantor Fitzgerald reissued a "neutral" rating and issued a $50.00 target price on shares of Bristol-Myers Squibb in a research note on Friday, October 18th. Finally, TD Cowen upped their price target on Bristol-Myers Squibb from $53.00 to $59.00 and gave the company a "hold" rating in a research report on Monday, October 7th. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, two have issued a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $54.07.

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.