Valence8 US LP Makes New $920,000 Investment in Bristol-Myers Squibb (NYSE:BMY)

Valence8 US LP purchased a new position in Bristol-Myers Squibb (NYSE:BMY - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 17,785 shares of the biopharmaceutical company's stock, valued at approximately $920,000. Bristol-Myers Squibb comprises 0.4% of Valence8 US LP's investment portfolio, making the stock its 14th largest position.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD grew its stake in shares of Bristol-Myers Squibb by 77.1% in 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 purchasing an additional 5,461,767 shares in the last quarter. Federated Hermes Inc. raised its position in shares of Bristol-Myers Squibb by 86.3% during 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 in the last quarter. Jennison Associates LLC lifted its stake in shares of Bristol-Myers Squibb by 420.1% in the 3rd quarter. Jennison Associates LLC now owns 4,241,255 shares of the biopharmaceutical company's stock worth $219,443,000 after acquiring an additional 3,425,789 shares during the period. Swedbank AB bought a new position in shares of Bristol-Myers Squibb in the first quarter valued at approximately $158,223,000. Finally, State of Michigan Retirement System increased its stake in shares of Bristol-Myers Squibb by 147.7% during the second quarter. State of Michigan Retirement System now owns 4,767,133 shares of the biopharmaceutical company's stock valued at $197,979,000 after acquiring an additional 2,842,400 shares during the period. Institutional investors and hedge funds own 76.41% of the company's stock.

Insiders Place Their Bets

In related news, EVP Samit Hirawat bought 1,830 shares of the company's 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 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 transaction was disclosed in a filing 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 on Monday, November 4th. The stock was sold at an average price of $55.62, for a total value of $38,934.00. Following the transaction, the senior vice president now 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 disclosure for this sale can be found here. Corporate insiders own 0.09% of the company's stock.

Bristol-Myers Squibb Stock Performance

BMY traded up $0.53 on Friday, hitting $58.76. The company had a trading volume of 4,669,330 shares, compared to its average volume of 14,352,489. The stock has a market cap of $119.18 billion, a price-to-earnings ratio of -16.22, a price-to-earnings-growth ratio of 15.62 and a beta of 0.44. The company has a debt-to-equity ratio of 2.83, a current ratio of 1.24 and a quick ratio of 1.09. The company's fifty day moving average price is $53.46 and its 200 day moving average price is $47.61. Bristol-Myers Squibb has a 1-year low of $39.35 and a 1-year high of $61.08.

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share (EPS) 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 company had revenue of $11.89 billion during the quarter, compared to analysts' expectations of $11.26 billion. During the same period in the prior year, the company earned $2.00 earnings per share. The business's quarterly revenue was up 8.4% compared to the same quarter last year. Equities analysts predict that Bristol-Myers Squibb will post 0.93 earnings per share for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

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

Analysts Set New Price Targets

Several analysts recently commented on the stock. Morgan Stanley increased their target price 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. Wolfe Research initiated coverage on Bristol-Myers Squibb in a research note on Friday, November 15th. They issued a "peer perform" rating on the stock. Daiwa Capital Markets raised shares of Bristol-Myers Squibb from a "neutral" rating to an "outperform" rating in a research note on Wednesday, November 13th. Leerink Partners upgraded shares of Bristol-Myers Squibb from a "market perform" rating to an "outperform" rating and boosted their price target for the company from $55.00 to $73.00 in a report on Tuesday, November 12th. Finally, Cantor Fitzgerald reiterated a "neutral" rating and set a $50.00 price objective on shares of Bristol-Myers Squibb in a research report on Friday, October 18th. Two 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 issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $54.07.

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.