Valley Wealth Managers Inc. Buys 590 Shares of Bristol-Myers Squibb (NYSE:BMY)

Valley Wealth Managers Inc. boosted its stake in Bristol-Myers Squibb (NYSE:BMY) by 0.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 70,755 shares of the biopharmaceutical company’s stock after purchasing an additional 590 shares during the period. Valley Wealth Managers Inc.’s holdings in Bristol-Myers Squibb were worth $3,661,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Archer Investment Corp grew its position in shares of Bristol-Myers Squibb by 1.6% during the 3rd quarter. Archer Investment Corp now owns 25,313 shares of the biopharmaceutical company’s stock valued at $1,310,000 after acquiring an additional 401 shares during the period. Empirical Finance LLC lifted its stake in shares of Bristol-Myers Squibb by 1.9% during the 3rd quarter. Empirical Finance LLC now owns 72,676 shares of the biopharmaceutical company’s stock valued at $3,760,000 after buying an additional 1,366 shares in the last quarter. Signature Estate & Investment Advisors LLC lifted its stake in shares of Bristol-Myers Squibb by 18.6% during the 3rd quarter. Signature Estate & Investment Advisors LLC now owns 5,949 shares of the biopharmaceutical company’s stock valued at $308,000 after buying an additional 932 shares in the last quarter. Sheaff Brock Investment Advisors LLC lifted its stake in shares of Bristol-Myers Squibb by 34.3% during the 3rd quarter. Sheaff Brock Investment Advisors LLC now owns 44,546 shares of the biopharmaceutical company’s stock valued at $2,305,000 after buying an additional 11,387 shares in the last quarter. Finally, CIBC Asset Management Inc lifted its stake in shares of Bristol-Myers Squibb by 9.2% during the 3rd quarter. CIBC Asset Management Inc now owns 368,946 shares of the biopharmaceutical company’s stock valued at $19,089,000 after buying an additional 30,984 shares in the last quarter. Institutional investors own 76.41% of the company’s stock.

Insider Buying and Selling at Bristol-Myers Squibb

In other Bristol-Myers Squibb news, EVP Samit Hirawat acquired 1,830 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was purchased at an average price of $54.67 per share, with a total value of $100,046.10. Following the completion of the acquisition, the executive vice president now directly owns 62,109 shares in the company, valued at $3,395,499.03. This trade represents a 3.04 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Phil M. Holzer sold 700 shares of the firm’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $55.62, for a total value of $38,934.00. Following the completion of the sale, the senior vice president now owns 11,760 shares in the company, valued at $654,091.20. The trade was a 5.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.09% of the stock is owned by corporate insiders.

Bristol-Myers Squibb Price Performance

NYSE BMY traded down $1.24 during trading hours on Friday, reaching $57.26. The company’s stock had a trading volume of 2,134,233 shares, compared to its average volume of 14,377,049. The stock has a market cap of $116.13 billion, a PE ratio of -15.92, a PEG ratio of 15.83 and a beta of 0.44. 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 is $52.58 and its two-hundred day moving average is $47.15. 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 (NYSE:BMY) last announced its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share for the quarter, topping the consensus estimate of $1.49 by $0.31. The business had revenue of $11.89 billion for the quarter, compared to analyst estimates of $11.26 billion. Bristol-Myers Squibb had a negative net margin of 15.30% and a positive return on equity of 11.94%. The company’s revenue was up 8.4% on a year-over-year basis. During the same period in the prior year, the firm posted $2.00 EPS. Analysts forecast that Bristol-Myers Squibb will post 0.92 EPS for the current year.

Bristol-Myers Squibb Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 4th were issued a $0.60 dividend. The ex-dividend date was Friday, October 4th. This represents a $2.40 annualized dividend and a yield of 4.19%. Bristol-Myers Squibb’s payout ratio is -66.85%.

Analysts Set New Price Targets

BMY has been the topic of several research analyst reports. 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. BMO Capital Markets upped their target price on shares of Bristol-Myers Squibb from $57.00 to $61.00 and gave the company a “market perform” rating in a research report on Tuesday. Sanford C. Bernstein initiated coverage on shares of Bristol-Myers Squibb in a research report on Thursday, October 17th. They set a “market perform” rating and a $56.00 target price on the stock. Daiwa Capital Markets upgraded shares of Bristol-Myers Squibb from a “neutral” rating to an “outperform” rating in a research report on Wednesday. Finally, UBS Group upped their target price on shares of Bristol-Myers Squibb from $50.00 to $54.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating, two have given a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $54.07.

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.