Jennison Associates LLC Increases Position in Bristol-Myers Squibb (NYSE:BMY)

Jennison Associates LLC increased its stake in Bristol-Myers Squibb (NYSE:BMY) by 420.1% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,241,255 shares of the biopharmaceutical company’s stock after buying an additional 3,425,789 shares during the period. Jennison Associates LLC owned 0.21% of Bristol-Myers Squibb worth $219,443,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Reston Wealth Management LLC purchased a new position in Bristol-Myers Squibb in the 3rd quarter worth approximately $25,000. Hollencrest Capital Management lifted its holdings in shares of Bristol-Myers Squibb by 61.3% during the third quarter. Hollencrest Capital Management now owns 492 shares of the biopharmaceutical company’s stock valued at $25,000 after purchasing an additional 187 shares in the last quarter. Kennebec Savings Bank purchased a new stake in shares of Bristol-Myers Squibb during the third quarter valued at $28,000. Valued Wealth Advisors LLC increased its holdings in Bristol-Myers Squibb by 1,168.1% in the 3rd quarter. Valued Wealth Advisors LLC now owns 596 shares of the biopharmaceutical company’s stock worth $31,000 after buying an additional 549 shares in the last quarter. Finally, LGT Financial Advisors LLC lifted its stake in Bristol-Myers Squibb by 42.7% during the 2nd quarter. LGT Financial Advisors LLC now owns 759 shares of the biopharmaceutical company’s stock valued at $32,000 after acquiring an additional 227 shares during the period. 76.41% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Bristol-Myers Squibb

In other Bristol-Myers Squibb news, SVP Phil M. Holzer sold 700 shares of the firm’s 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 completion of the sale, the senior vice president now owns 11,760 shares of the company’s stock, valued at approximately $654,091.20. This trade represents a 5.62 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Samit Hirawat acquired 1,830 shares of the stock in a transaction dated Friday, November 1st. The shares were bought at an average price of $54.67 per share, with a total value of $100,046.10. Following the completion of the purchase, the executive vice president now directly owns 62,109 shares of the company’s stock, valued at approximately $3,395,499.03. This trade represents a 3.04 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.09% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on BMY shares. Barclays raised their target price on shares of Bristol-Myers Squibb from $42.00 to $43.00 and gave the stock an “underweight” rating in a report on Monday, October 7th. Leerink Partnrs raised Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 12th. UBS Group upped their target price on shares of Bristol-Myers Squibb from $50.00 to $54.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. 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 report on Monday, October 7th. Finally, 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. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, two have given a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, Bristol-Myers Squibb presently has a consensus rating of “Hold” and an average target price of $54.07.

Bristol-Myers Squibb Trading Up 2.5 %

Shares of NYSE BMY opened at $58.21 on Wednesday. The stock has a market capitalization of $118.06 billion, a P/E ratio of -16.21, a PEG ratio of 15.08 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 business’s 50 day moving average is $53.08 and its two-hundred day moving average is $47.47. Bristol-Myers Squibb has a 1-year low of $39.35 and a 1-year high of $61.08.

Bristol-Myers Squibb (NYSE:BMY) last released its earnings results 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. Bristol-Myers Squibb had a negative net margin of 15.30% and a positive return on equity of 11.94%. The firm had revenue of $11.89 billion during the quarter, compared to analyst estimates of $11.26 billion. During the same quarter last year, the business earned $2.00 EPS. The business’s revenue was up 8.4% on a year-over-year basis. As a group, research analysts expect that Bristol-Myers Squibb will post 0.93 EPS for the current year.

Bristol-Myers Squibb Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 4th were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 4.12%. The ex-dividend date of this dividend was Friday, October 4th. Bristol-Myers Squibb’s payout ratio is -66.85%.

About Bristol-Myers Squibb

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.