Meridian Management Co. Acquires 182 Shares of Bristol-Myers Squibb (NYSE:BMY)

Meridian Management Co. grew its holdings in Bristol-Myers Squibb (NYSE:BMY) by 0.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 28,283 shares of the biopharmaceutical company’s stock after purchasing an additional 182 shares during the period. Meridian Management Co.’s holdings in Bristol-Myers Squibb were worth $1,463,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Reston Wealth Management LLC purchased a new position in Bristol-Myers Squibb during the third quarter valued at approximately $25,000. Hollencrest Capital Management grew its stake in 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 acquiring an additional 187 shares in the last quarter. ESL Trust Services LLC purchased a new position in Bristol-Myers Squibb during the first quarter valued at approximately $27,000. Kennebec Savings Bank purchased a new position in Bristol-Myers Squibb during the third quarter valued at approximately $28,000. Finally, Valued Wealth Advisors LLC grew its stake in Bristol-Myers Squibb by 1,168.1% during the third quarter. Valued Wealth Advisors LLC now owns 596 shares of the biopharmaceutical company’s stock valued at $31,000 after acquiring an additional 549 shares in the last quarter. Institutional investors own 76.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on BMY. Leerink Partners raised shares of Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and set a $73.00 price objective for the company in a research note on Tuesday. Citigroup cut shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $75.00 to $55.00 in a research note on Friday, October 25th. Jefferies Financial Group boosted their price target on shares of Bristol-Myers Squibb from $49.00 to $51.00 and gave the stock a “hold” rating in a research note on Wednesday, August 28th. TD Cowen boosted their price target 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. Finally, Deutsche Bank Aktiengesellschaft cut their price target on shares of Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating for the company in a research note on Tuesday, July 23rd. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $54.54.

Bristol-Myers Squibb Trading Up 10.5 %

NYSE:BMY opened at $59.82 on Tuesday. The company has a fifty day moving average of $52.07 and a 200 day moving average of $46.89. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $61.08. The company has a quick ratio of 1.09, a current ratio of 1.24 and a debt-to-equity ratio of 2.83. The firm has a market capitalization of $121.33 billion, a P/E ratio of -16.66, a P/E/G ratio of 20.09 and a beta of 0.44.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 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 analyst estimates of $11.26 billion. During the same period in the prior year, the business posted $2.00 EPS. The firm’s revenue was up 8.4% compared to the same quarter last year. On average, research analysts predict that Bristol-Myers Squibb will post 0.92 earnings per share for the current year.

Bristol-Myers Squibb Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 4th were issued 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 4.01%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -66.85%.

Insiders Place Their Bets

In related news, EVP Samit Hirawat acquired 1,830 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was acquired at an average cost of $54.67 per share, for a total transaction of $100,046.10. Following the acquisition, the executive vice president now owns 62,109 shares of the company’s stock, valued at $3,395,499.03. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. In related news, EVP Samit Hirawat acquired 1,830 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was acquired at an average cost of $54.67 per share, for a total transaction of $100,046.10. Following the acquisition, the executive vice president now owns 62,109 shares of the company’s stock, valued at $3,395,499.03. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Phil M. Holzer sold 700 shares of the company’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $55.62, for a total transaction of $38,934.00. Following the completion of the transaction, the senior vice president now owns 11,760 shares of the company’s stock, valued at $654,091.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company 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.