Bristol-Myers Squibb (NYSE:BMY) Shares Purchased by Plato Investment Management Ltd

Plato Investment Management Ltd boosted its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 12.9% during the 3rd quarter, Holdings Channel reports. The firm owned 117,401 shares of the biopharmaceutical company’s stock after acquiring an additional 13,447 shares during the quarter. Plato Investment Management Ltd’s holdings in Bristol-Myers Squibb were worth $6,068,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the stock. Patriot Financial Group Insurance Agency LLC raised its stake in Bristol-Myers Squibb by 3.8% in the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 5,595 shares of the biopharmaceutical company’s stock worth $289,000 after acquiring an additional 206 shares during the last quarter. Graypoint LLC raised its stake in shares of Bristol-Myers Squibb by 29.4% in the third quarter. Graypoint LLC now owns 11,293 shares of the biopharmaceutical company’s stock worth $584,000 after purchasing an additional 2,563 shares during the last quarter. Xponance Inc. boosted its position in Bristol-Myers Squibb by 8.8% in the second quarter. Xponance Inc. now owns 317,381 shares of the biopharmaceutical company’s stock valued at $13,181,000 after buying an additional 25,543 shares during the last quarter. Meritage Portfolio Management increased its holdings in Bristol-Myers Squibb by 1,874.9% in the 3rd quarter. Meritage Portfolio Management now owns 108,264 shares of the biopharmaceutical company’s stock worth $5,602,000 after buying an additional 102,782 shares during the period. Finally, AlTi Global Inc. raised its position in Bristol-Myers Squibb by 795.6% during the 2nd quarter. AlTi Global Inc. now owns 107,268 shares of the biopharmaceutical company’s stock worth $4,455,000 after buying an additional 95,291 shares during the last quarter. Institutional investors and hedge funds own 76.41% of the company’s stock.

Insider Activity

In related news, 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 completion of the transaction, the senior vice president now directly owns 11,760 shares of the company’s stock, valued at approximately $654,091.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Bristol-Myers Squibb news, EVP Samit Hirawat purchased 1,830 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were purchased 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 $3,395,499.03. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Phil M. Holzer sold 700 shares of the stock in a transaction dated 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 owns 11,760 shares of the company’s stock, valued at approximately $654,091.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.09% of the company’s stock.

Bristol-Myers Squibb Price Performance

Bristol-Myers Squibb stock opened at $58.43 on Thursday. The stock has a market capitalization of $118.51 billion, a P/E ratio of -16.28, a P/E/G ratio of 21.34 and a beta of 0.44. The company’s fifty day moving average price is $52.24 and its 200 day moving average price is $46.99. The company has a debt-to-equity ratio of 2.83, a quick ratio of 1.09 and a current ratio of 1.24. 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 announced its earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, beating 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 business had revenue of $11.89 billion for the quarter, compared to analyst estimates of $11.26 billion. During the same quarter last year, the business earned $2.00 earnings per share. The company’s revenue for the quarter was up 8.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Bristol-Myers Squibb will post 0.92 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. Shareholders 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 dividend on an annualized basis and a dividend yield of 4.11%. Bristol-Myers Squibb’s payout ratio is currently -66.85%.

Wall Street Analyst Weigh In

Several analysts have recently commented on BMY shares. Leerink Partners raised shares of Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $55.00 to $73.00 in a report on Tuesday. Barclays increased their price target on Bristol-Myers Squibb from $42.00 to $43.00 and gave the stock an “underweight” rating in a research 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. TD Cowen upped their target price on 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, 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 report on Tuesday. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $54.07.

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.