Sherman Asset Management Inc. Invests $162,000 in Bristol-Myers Squibb (NYSE:BMY)

Sherman Asset Management Inc. acquired a new position in Bristol-Myers Squibb (NYSE:BMY) during the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 2,861 shares of the biopharmaceutical company’s stock, valued at approximately $162,000.

Other hedge funds also recently made changes to their positions in the company. Reston Wealth Management LLC acquired a new position in shares of Bristol-Myers Squibb in the 3rd quarter worth approximately $25,000. Hollencrest Capital Management grew its stake in shares of Bristol-Myers Squibb by 61.3% in the 3rd quarter. Hollencrest Capital Management now owns 492 shares of the biopharmaceutical company’s stock worth $25,000 after purchasing an additional 187 shares during the last quarter. Kennebec Savings Bank acquired a new position in shares of Bristol-Myers Squibb in the 3rd quarter worth approximately $28,000. Darwin Wealth Management LLC acquired a new position in shares of Bristol-Myers Squibb in the 3rd quarter worth approximately $29,000. Finally, Comprehensive Financial Planning Inc. PA acquired a new position in shares of Bristol-Myers Squibb in the 4th quarter worth approximately $34,000. Institutional investors and hedge funds own 76.41% of the company’s stock.

Bristol-Myers Squibb Stock Performance

BMY stock opened at $59.71 on Friday. The company has a quick ratio of 1.15, a current ratio of 1.25 and a debt-to-equity ratio of 2.90. The company has a market capitalization of $121.17 billion, a price-to-earnings ratio of -13.51, a P/E/G ratio of 2.07 and a beta of 0.45. Bristol-Myers Squibb has a 12 month low of $39.35 and a 12 month high of $61.10. The firm has a 50 day moving average of $57.15 and a two-hundred day moving average of $54.74.

Bristol-Myers Squibb (NYSE:BMY) last posted its earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 EPS for the quarter, topping the consensus estimate of $1.47 by $0.20. Bristol-Myers Squibb had a negative net margin of 18.53% and a positive return on equity of 13.93%. As a group, equities analysts anticipate that Bristol-Myers Squibb will post 6.74 EPS for the current fiscal year.

Bristol-Myers Squibb Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, January 3rd were given a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 4.15%. This is an increase from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. The ex-dividend date was Friday, January 3rd. Bristol-Myers Squibb’s payout ratio is currently -56.11%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Wells Fargo & Company lifted their target price on shares of Bristol-Myers Squibb from $60.00 to $62.00 and gave the stock an “equal weight” rating in a research report on Friday, February 7th. Leerink Partners upgraded shares of Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $55.00 to $73.00 in a report on Tuesday, November 12th. Leerink Partnrs upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 12th. Jefferies Financial Group upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and boosted their price target for the company from $63.00 to $70.00 in a report on Monday, December 16th. Finally, Morgan Stanley boosted their price target on shares of Bristol-Myers Squibb from $36.00 to $39.00 and gave the company an “underweight” rating in a report on Tuesday, November 12th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, four have issued a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, Bristol-Myers Squibb has a consensus rating of “Hold” and an average target price of $57.86.

Insiders Place Their Bets

In other news, EVP Samit Hirawat acquired 1,823 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The stock was acquired at an average cost of $54.84 per share, with a total value of $99,973.32. Following the acquisition, the executive vice president now owns 63,932 shares in the company, valued at approximately $3,506,030.88. This represents a 2.94 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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.