PSI Advisors LLC Sells 1,400 Shares of Bristol-Myers Squibb (NYSE:BMY)

PSI Advisors LLC lowered its position in Bristol-Myers Squibb (NYSE:BMY) by 23.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,550 shares of the biopharmaceutical company’s stock after selling 1,400 shares during the quarter. PSI Advisors LLC’s holdings in Bristol-Myers Squibb were worth $257,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of BMY. Marcum Wealth LLC boosted its stake in Bristol-Myers Squibb by 11.5% during the fourth quarter. Marcum Wealth LLC now owns 19,103 shares of the biopharmaceutical company’s stock worth $1,080,000 after buying an additional 1,964 shares in the last quarter. FNY Investment Advisers LLC lifted its holdings in shares of Bristol-Myers Squibb by 17,657.1% during the 4th quarter. FNY Investment Advisers LLC now owns 12,430 shares of the biopharmaceutical company’s stock worth $703,000 after acquiring an additional 12,360 shares during the period. BCS Wealth Management acquired a new stake in shares of Bristol-Myers Squibb during the 4th quarter valued at about $329,000. Miracle Mile Advisors LLC increased its stake in Bristol-Myers Squibb by 6.6% in the fourth quarter. Miracle Mile Advisors LLC now owns 114,045 shares of the biopharmaceutical company’s stock valued at $6,450,000 after acquiring an additional 7,109 shares during the period. Finally, Davis Investment Partners LLC acquired a new position in Bristol-Myers Squibb in the fourth quarter worth about $408,000. 76.41% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on BMY. Leerink Partnrs raised Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 12th. Barclays upped their price target on Bristol-Myers Squibb from $42.00 to $43.00 and gave the company an “underweight” rating in a research report on Monday, October 7th. TD Cowen lifted their price objective on Bristol-Myers Squibb from $53.00 to $59.00 and gave the company a “hold” rating in a report on Monday, October 7th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $50.00 target price on shares of Bristol-Myers Squibb in a report on Friday, October 18th. Finally, Morgan Stanley lifted 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, thirteen have issued a hold rating, four have assigned a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $56.27.

Insider Buying and Selling at Bristol-Myers Squibb

In related news, EVP Samit Hirawat bought 1,830 shares of the business’s stock in a transaction on Friday, November 1st. The shares were purchased at an average price of $54.67 per share, with a total value of $100,046.10. Following the completion of the purchase, the executive vice president now owns 62,109 shares of the company’s stock, valued at $3,395,499.03. This represents a 3.04 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Phil M. Holzer sold 700 shares of the business’s 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 transaction, the senior vice president now owns 11,760 shares of the company’s stock, 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. Insiders own 0.09% of the company’s stock.

Bristol-Myers Squibb Stock Down 0.9 %

Shares of BMY opened at $55.35 on Tuesday. The firm has a market capitalization of $112.26 billion, a price-to-earnings ratio of -15.42, a PEG ratio of 15.20 and a beta of 0.45. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $61.08. 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 fifty day moving average price is $57.44 and its two-hundred day moving average price is $51.66.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly 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. The business 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 firm’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter last year, the business earned $2.00 earnings per share. On average, analysts predict that Bristol-Myers Squibb will post 0.93 earnings per share for the current year.

Bristol-Myers Squibb Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 3rd will be issued a $0.62 dividend. This is a positive change from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. This represents a $2.48 annualized dividend and a yield of 4.48%. The ex-dividend date is Friday, January 3rd. Bristol-Myers Squibb’s dividend payout ratio is currently -69.08%.

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.