ETF Store Inc. Makes New Investment in Bristol-Myers Squibb (NYSE:BMY)

ETF Store Inc. purchased a new position in shares of Bristol-Myers Squibb (NYSE:BMY) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 4,287 shares of the biopharmaceutical company’s stock, valued at approximately $222,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BMY. Bahl & Gaynor Inc. raised its stake in shares of Bristol-Myers Squibb by 2.7% during the 1st quarter. Bahl & Gaynor Inc. now owns 44,568 shares of the biopharmaceutical company’s stock valued at $2,417,000 after buying an additional 1,183 shares during the last quarter. UniSuper Management Pty Ltd raised its stake in shares of Bristol-Myers Squibb by 15.1% during the 1st quarter. UniSuper Management Pty Ltd now owns 215,898 shares of the biopharmaceutical company’s stock valued at $11,708,000 after buying an additional 28,373 shares during the last quarter. Delta Asset Management LLC TN raised its stake in shares of Bristol-Myers Squibb by 11.5% during the 1st quarter. Delta Asset Management LLC TN now owns 86,361 shares of the biopharmaceutical company’s stock valued at $4,683,000 after buying an additional 8,897 shares during the last quarter. Bessemer Group Inc. raised its stake in shares of Bristol-Myers Squibb by 16.3% during the 1st quarter. Bessemer Group Inc. now owns 159,066 shares of the biopharmaceutical company’s stock valued at $8,625,000 after buying an additional 22,286 shares during the last quarter. Finally, Lake Street Advisors Group LLC raised its stake in shares of Bristol-Myers Squibb by 54.7% during the 1st quarter. Lake Street Advisors Group LLC now owns 13,530 shares of the biopharmaceutical company’s stock valued at $734,000 after buying an additional 4,784 shares during the last quarter. Institutional investors and hedge funds own 76.41% of the company’s stock.

Insider Transactions at Bristol-Myers Squibb

In other news, 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 of the company’s stock, valued at approximately $654,091.20. The trade was a 5.62 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Samit Hirawat purchased 1,830 shares of Bristol-Myers Squibb stock in a transaction that occurred on Friday, November 1st. The stock was bought at an average cost of $54.67 per share, with a total value of $100,046.10. Following the completion of the transaction, the executive vice president now owns 62,109 shares of the company’s stock, valued at $3,395,499.03. The trade was a 3.04 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.09% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on BMY shares. Leerink Partnrs upgraded Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 12th. Barclays lifted their price target on Bristol-Myers Squibb from $42.00 to $43.00 and gave the company an “underweight” rating in a research note on Monday, October 7th. Leerink Partners upgraded Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $55.00 to $73.00 in a research note on Tuesday, November 12th. Morgan Stanley lifted their price target on Bristol-Myers Squibb from $36.00 to $39.00 and gave the company an “underweight” rating in a research note on Tuesday, November 12th. Finally, Citigroup lifted their price target 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. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, two have assigned a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Bristol-Myers Squibb has an average rating of “Hold” and a consensus price target of $54.07.

Bristol-Myers Squibb Stock Performance

NYSE:BMY opened at $56.22 on Monday. The company has a fifty day simple moving average of $52.73 and a two-hundred day simple moving average of $47.27. The company has a market cap of $114.02 billion, a price-to-earnings ratio of -15.66, a price-to-earnings-growth ratio of 15.23 and a beta of 0.44. The company has a quick ratio of 1.09, a current ratio of 1.24 and a debt-to-equity ratio of 2.83. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $61.08.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.31. The business had revenue of $11.89 billion during the quarter, compared to analysts’ expectations of $11.26 billion. Bristol-Myers Squibb had a negative net margin of 15.30% and a positive return on equity of 11.94%. The company’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same period in the previous year, the company earned $2.00 EPS. As a group, equities analysts anticipate that Bristol-Myers Squibb will post 0.93 earnings per share for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 4th were given a dividend of $0.60 per share. The ex-dividend date was Friday, October 4th. This represents a $2.40 annualized dividend and a dividend yield of 4.27%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently -66.85%.

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.