Lifeworks Advisors LLC Increases Stock Position in Bristol-Myers Squibb (NYSE:BMY)

Lifeworks Advisors LLC increased its holdings in Bristol-Myers Squibb (NYSE:BMY) by 11.9% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 110,083 shares of the biopharmaceutical company’s stock after purchasing an additional 11,730 shares during the quarter. Bristol-Myers Squibb accounts for about 1.1% of Lifeworks Advisors LLC’s holdings, making the stock its 23rd biggest holding. Lifeworks Advisors LLC’s holdings in Bristol-Myers Squibb were worth $5,696,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Reston Wealth Management LLC purchased a new stake in Bristol-Myers Squibb during the third quarter valued at approximately $25,000. Hollencrest Capital Management lifted its holdings in shares of Bristol-Myers Squibb by 61.3% during the 3rd quarter. Hollencrest Capital Management now owns 492 shares of the biopharmaceutical company’s stock valued at $25,000 after purchasing an additional 187 shares during the last quarter. ESL Trust Services LLC acquired a new stake in shares of Bristol-Myers Squibb in the 1st quarter worth $27,000. Kennebec Savings Bank purchased a new position in Bristol-Myers Squibb during the 3rd quarter worth $28,000. Finally, Valued Wealth Advisors LLC increased its position in Bristol-Myers Squibb by 1,168.1% during the 3rd quarter. Valued Wealth Advisors LLC now owns 596 shares of the biopharmaceutical company’s stock valued at $31,000 after buying an additional 549 shares in the last quarter. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Leerink Partners upgraded Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $55.00 to $73.00 in a research note on Tuesday. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating on the stock in a research report on Tuesday, July 23rd. BMO Capital Markets raised their price target on shares of Bristol-Myers Squibb from $57.00 to $61.00 and gave the stock a “market perform” rating in a report on Tuesday. Leerink Partnrs raised shares of Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a report on Tuesday. 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. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, two have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Bristol-Myers Squibb currently has a consensus rating of “Hold” and a consensus price target of $54.07.

Bristol-Myers Squibb Stock Performance

NYSE BMY traded up $0.41 during mid-day trading on Thursday, reaching $58.82. 1,451,411 shares of the stock were exchanged, compared to its average volume of 14,387,004. The company has a market capitalization of $119.30 billion, a P/E ratio of -16.28, a P/E/G ratio of 21.34 and a beta of 0.44. The company has a debt-to-equity ratio of 2.83, a quick ratio of 1.09 and a current ratio of 1.24. The business’s 50 day moving average is $52.41 and its 200-day moving average is $47.07. 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 posted its 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. The firm had revenue of $11.89 billion for 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 quarterly revenue was up 8.4% on a year-over-year basis. During the same period last year, the firm earned $2.00 EPS. On average, equities research analysts forecast that Bristol-Myers Squibb will post 0.92 EPS for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 4th were paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 4.08%. The ex-dividend date of this dividend was Friday, October 4th. Bristol-Myers Squibb’s payout ratio is -66.85%.

Insider Activity

In related news, EVP Samit Hirawat acquired 1,830 shares of Bristol-Myers Squibb stock in a transaction on Friday, November 1st. The stock was 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. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. In other Bristol-Myers Squibb news, SVP Phil M. Holzer sold 700 shares of the firm’s 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 transaction, the senior vice president now owns 11,760 shares in the company, valued at approximately $654,091.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Samit Hirawat bought 1,830 shares of Bristol-Myers Squibb stock in a transaction dated Friday, November 1st. The stock was acquired at an average price of $54.67 per share, with a total value of $100,046.10. Following the completion of the transaction, the executive vice president now directly owns 62,109 shares of the company’s stock, valued at approximately $3,395,499.03. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.09% of the company’s stock.

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.