Insight Inv LLC Increases Position in Bristol-Myers Squibb (NYSE:BMY)

Insight Inv LLC grew its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 39.0% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 30,859 shares of the biopharmaceutical company’s stock after purchasing an additional 8,663 shares during the period. Insight Inv LLC’s holdings in Bristol-Myers Squibb were worth $1,745,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Advocate Group LLC raised its stake in Bristol-Myers Squibb by 5.8% during the fourth quarter. Advocate Group LLC now owns 145,177 shares of the biopharmaceutical company’s stock valued at $8,211,000 after buying an additional 7,936 shares during the last quarter. Toth Financial Advisory Corp raised its position in shares of Bristol-Myers Squibb by 28.2% in the 4th quarter. Toth Financial Advisory Corp now owns 73,018 shares of the biopharmaceutical company’s stock worth $4,130,000 after purchasing an additional 16,041 shares during the last quarter. Geneos Wealth Management Inc. boosted its stake in Bristol-Myers Squibb by 3.9% in the 4th quarter. Geneos Wealth Management Inc. now owns 95,955 shares of the biopharmaceutical company’s stock worth $5,427,000 after purchasing an additional 3,560 shares in the last quarter. Accel Wealth Management grew its position in Bristol-Myers Squibb by 6.2% during the 4th quarter. Accel Wealth Management now owns 4,674 shares of the biopharmaceutical company’s stock valued at $264,000 after purchasing an additional 271 shares during the last quarter. Finally, Carr Financial Group Corp increased its stake in Bristol-Myers Squibb by 8.4% during the 4th quarter. Carr Financial Group Corp now owns 4,643 shares of the biopharmaceutical company’s stock valued at $263,000 after purchasing an additional 361 shares in the last quarter. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Samit Hirawat acquired 1,830 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were acquired at an average cost of $54.67 per share, with a total value of $100,046.10. Following the acquisition, 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 3.04 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 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 transaction 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. Corporate insiders own 0.09% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Leerink Partners upgraded shares of Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and increased their price target for the company from $55.00 to $73.00 in a report on Tuesday, November 12th. Cantor Fitzgerald restated a “neutral” rating and issued a $50.00 price target on shares of Bristol-Myers Squibb in a research note on Friday, October 18th. Citigroup lifted their price objective on Bristol-Myers Squibb from $55.00 to $60.00 and gave the stock a “neutral” 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 upped their target price for the company from $63.00 to $70.00 in a research note on Monday, December 16th. Finally, Morgan Stanley boosted their price objective 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 analysts have rated the stock with a sell rating, thirteen have issued a hold rating, four have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Bristol-Myers Squibb presently has an average rating of “Hold” and a consensus target price of $56.27.

Bristol-Myers Squibb Price Performance

NYSE:BMY opened at $59.68 on Friday. The business’s 50-day simple moving average is $57.47 and its two-hundred day simple moving average is $52.54. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $61.08. The stock has a market cap of $121.05 billion, a PE ratio of -16.63, a P/E/G ratio of 2.02 and a beta of 0.45. The company has a quick ratio of 1.09, a current ratio of 1.24 and a debt-to-equity ratio of 2.83.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 EPS for the quarter, topping 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 company had revenue of $11.89 billion for the quarter, compared to analysts’ expectations of $11.26 billion. During the same period in the previous year, the firm earned $2.00 EPS. The firm’s revenue was up 8.4% compared to the same quarter last year. As a group, analysts forecast that Bristol-Myers Squibb will post 0.92 EPS for the current fiscal year.

Bristol-Myers Squibb Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 3rd will be issued a $0.62 dividend. This is an increase from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. This represents a $2.48 dividend on an annualized basis and a yield of 4.16%. The ex-dividend date is Friday, January 3rd. Bristol-Myers Squibb’s 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.