Meritage Portfolio Management Purchases 102,782 Shares of Bristol-Myers Squibb (NYSE:BMY)

Meritage Portfolio Management grew its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 1,874.9% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 108,264 shares of the biopharmaceutical company’s stock after buying an additional 102,782 shares during the quarter. Meritage Portfolio Management’s holdings in Bristol-Myers Squibb were worth $5,602,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Tyler Stone Wealth Management increased its holdings in Bristol-Myers Squibb by 100.1% during the third quarter. Tyler Stone Wealth Management now owns 4,579 shares of the biopharmaceutical company’s stock worth $237,000 after buying an additional 2,291 shares during the last quarter. Mayflower Financial Advisors LLC raised its holdings in shares of Bristol-Myers Squibb by 2.3% in the 3rd quarter. Mayflower Financial Advisors LLC now owns 8,466 shares of the biopharmaceutical company’s stock worth $438,000 after purchasing an additional 192 shares during the period. Sigma Planning Corp lifted its stake in Bristol-Myers Squibb by 20.9% in the third quarter. Sigma Planning Corp now owns 56,306 shares of the biopharmaceutical company’s stock valued at $2,913,000 after purchasing an additional 9,746 shares during the last quarter. Ted Buchan & Co bought a new position in Bristol-Myers Squibb during the third quarter valued at $1,152,000. Finally, Carr Financial Group Corp purchased a new stake in Bristol-Myers Squibb in the third quarter worth $222,000. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on BMY. Cantor Fitzgerald reiterated a “neutral” rating and set a $50.00 price target on shares of Bristol-Myers Squibb in a research note on Friday, October 18th. TD Cowen increased their target price on shares of Bristol-Myers Squibb from $53.00 to $59.00 and gave the stock a “hold” rating in a research note on Monday, October 7th. 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 report on Monday, October 7th. BMO Capital Markets upped their target price on shares of Bristol-Myers Squibb from $53.00 to $57.00 and gave the stock a “market perform” rating in a research report on Friday, November 1st. Finally, Sanford C. Bernstein assumed coverage on Bristol-Myers Squibb in a research note on Thursday, October 17th. They issued a “market perform” rating and a $56.00 target price for the company. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $53.00.

Bristol-Myers Squibb Stock Down 1.0 %

Shares of NYSE:BMY traded down $0.57 on Friday, hitting $54.14. 9,218,631 shares of the company traded hands, compared to its average volume of 8,783,218. The company has a market cap of $109.81 billion, a PE ratio of -15.08, a PEG ratio of 20.52 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 $56.80. The stock has a 50 day simple moving average of $51.87 and a 200-day simple moving average of $46.81.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share for the quarter, topping the consensus estimate of $1.49 by $0.31. The firm had revenue of $11.89 billion during the quarter, compared to analysts’ expectations of $11.26 billion. Bristol-Myers Squibb had a positive return on equity of 11.94% and a negative net margin of 15.30%. The company’s revenue was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.00 earnings per share. As a group, research analysts expect that Bristol-Myers Squibb will post 0.9 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. Stockholders of record on Friday, October 4th were issued 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 dividend yield of 4.43%. Bristol-Myers Squibb’s payout ratio is -66.85%.

Insiders Place Their Bets

In related news, EVP Samit Hirawat bought 1,830 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were bought at an average cost of $54.67 per share, for a total transaction 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 approximately $3,395,499.03. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Samit Hirawat bought 1,830 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was bought 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 of the company’s stock, valued at approximately $3,395,499.03. This represents a 0.00 % increase in their position. The acquisition 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 dated Monday, November 4th. The stock was sold at an average price of $55.62, for a total value of $38,934.00. Following the sale, the senior vice president now owns 11,760 shares of the company’s stock, valued at $654,091.20. This represents a 0.00 % 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 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.