Portfolio Design Labs LLC Takes Position in Bristol-Myers Squibb (NYSE:BMY)

Portfolio Design Labs LLC purchased a new position in shares of Bristol-Myers Squibb (NYSE:BMY) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 37,706 shares of the biopharmaceutical company’s stock, valued at approximately $1,951,000.

Other institutional investors have also added to or reduced their stakes in the company. First Horizon Advisors Inc. increased its position in Bristol-Myers Squibb by 281.0% during the 3rd quarter. First Horizon Advisors Inc. now owns 395,386 shares of the biopharmaceutical company’s stock worth $20,457,000 after buying an additional 291,613 shares during the period. Advisors Asset Management Inc. grew its stake in shares of Bristol-Myers Squibb by 30.1% in the third quarter. Advisors Asset Management Inc. now owns 212,439 shares of the biopharmaceutical company’s stock valued at $10,992,000 after acquiring an additional 49,137 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in Bristol-Myers Squibb during the third quarter worth about $3,579,000. Briaud Financial Planning Inc raised its stake in Bristol-Myers Squibb by 35.4% in the 3rd quarter. Briaud Financial Planning Inc now owns 1,536 shares of the biopharmaceutical company’s stock worth $79,000 after purchasing an additional 402 shares in the last quarter. Finally, Factorial Partners LLC boosted its holdings in Bristol-Myers Squibb by 4.3% in the 3rd quarter. Factorial Partners LLC now owns 36,500 shares of the biopharmaceutical company’s stock valued at $1,889,000 after purchasing an additional 1,500 shares during the period. 76.41% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

BMY has been the topic of several recent research reports. 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. BMO Capital Markets lifted their price objective on Bristol-Myers Squibb from $57.00 to $61.00 and gave the company a “market perform” rating in a report on Tuesday, November 12th. StockNews.com raised Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Monday, July 29th. Deutsche Bank Aktiengesellschaft dropped their price target on 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. Finally, Citigroup upped their price objective on shares of Bristol-Myers Squibb from $55.00 to $60.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 12th. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating, two have assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, Bristol-Myers Squibb presently has an average rating of “Hold” and a consensus target price of $54.07.

Insider Buying and Selling at Bristol-Myers Squibb

In other news, EVP Samit Hirawat purchased 1,830 shares of the business’s stock in a transaction on Friday, November 1st. The shares were 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 owns 62,109 shares of the company’s stock, valued at $3,395,499.03. The trade was a 3.04 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Phil M. Holzer sold 700 shares of Bristol-Myers Squibb 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 transaction, the senior vice president now directly 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 disclosure for this sale can be found here. Insiders own 0.09% of the company’s stock.

Bristol-Myers Squibb Trading Up 2.5 %

BMY opened at $58.21 on Wednesday. The company has a debt-to-equity ratio of 2.83, a current ratio of 1.24 and a quick ratio of 1.09. Bristol-Myers Squibb has a fifty-two week low of $39.35 and a fifty-two week high of $61.08. The company’s 50 day moving average price is $53.08 and its two-hundred day moving average price is $47.47. The firm has a market capitalization of $118.06 billion, a price-to-earnings ratio of -16.21, a PEG ratio of 15.08 and a beta of 0.44.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share for the quarter, beating analysts’ consensus estimates of $1.49 by $0.31. Bristol-Myers Squibb had a positive return on equity of 11.94% and a negative net margin of 15.30%. The business had revenue of $11.89 billion during the quarter, compared to the consensus estimate of $11.26 billion. During the same period in the prior year, the business posted $2.00 earnings per share. Bristol-Myers Squibb’s quarterly revenue was up 8.4% on a year-over-year basis. As a group, research analysts predict that Bristol-Myers Squibb will post 0.93 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

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

Bristol-Myers Squibb Company 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.