Baron Wealth Management LLC Grows Stock Holdings in Bristol-Myers Squibb (NYSE:BMY)

Baron Wealth Management LLC lifted its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 6.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,329 shares of the biopharmaceutical company’s stock after acquiring an additional 268 shares during the quarter. Baron Wealth Management LLC’s holdings in Bristol-Myers Squibb were worth $245,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in BMY. Algert Global LLC purchased a new position in Bristol-Myers Squibb in the 2nd quarter worth approximately $328,000. Quarry LP acquired a new position in shares of Bristol-Myers Squibb during the second quarter worth $47,000. Founders Financial Alliance LLC grew its holdings in Bristol-Myers Squibb by 18.1% during the 2nd quarter. Founders Financial Alliance LLC now owns 8,390 shares of the biopharmaceutical company’s stock valued at $348,000 after purchasing an additional 1,287 shares in the last quarter. Birmingham Capital Management Co. Inc. AL increased its stake in Bristol-Myers Squibb by 3.2% during the 2nd quarter. Birmingham Capital Management Co. Inc. AL now owns 45,141 shares of the biopharmaceutical company’s stock worth $1,875,000 after buying an additional 1,416 shares during the period. Finally, Strategic Investment Solutions Inc. IL acquired a new position in Bristol-Myers Squibb in the 2nd quarter worth $55,000. 76.41% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Samit Hirawat acquired 1,830 shares of the firm’s stock in a transaction that occurred 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 purchase, the executive vice president now owns 62,109 shares of the company’s stock, valued at approximately $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 available at the SEC website. Also, SVP Phil M. Holzer sold 700 shares of the 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 of the company’s stock, valued at $654,091.20. The trade was a 5.62 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.09% of the company’s stock.

Analyst Ratings Changes

BMY has been the topic of a number of analyst reports. Bank of America reaffirmed a “neutral” rating and set a $63.00 target price on shares of Bristol-Myers Squibb in a research report on Tuesday, December 10th. Sanford C. Bernstein began coverage on Bristol-Myers Squibb in a research note on Thursday, October 17th. They set a “market perform” rating and a $56.00 target price for the company. Morgan Stanley raised their price target on shares of Bristol-Myers Squibb from $36.00 to $39.00 and gave the stock an “underweight” rating in a research report on Tuesday, November 12th. Leerink Partners upgraded shares of Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $55.00 to $73.00 in a research note on Tuesday, November 12th. Finally, Citigroup boosted their target price on shares of Bristol-Myers Squibb from $60.00 to $65.00 and gave the stock a “neutral” rating in a research report on Tuesday. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, four have given a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $56.60.

Bristol-Myers Squibb Trading Up 0.6 %

Shares of NYSE:BMY opened at $59.11 on Thursday. Bristol-Myers Squibb has a fifty-two week low of $39.35 and a fifty-two week high of $61.10. The company has a quick ratio of 1.09, a current ratio of 1.24 and a debt-to-equity ratio of 2.83. The company has a market cap of $119.88 billion, a PE ratio of -16.46, a P/E/G ratio of 2.02 and a beta of 0.45. The company’s 50-day moving average price is $57.56 and its 200 day moving average price is $52.97.

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, topping the consensus estimate of $1.49 by $0.31. The business had revenue of $11.89 billion during the quarter, compared to the consensus estimate 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 quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.00 earnings per share. Sell-side analysts anticipate that Bristol-Myers Squibb will post 0.92 earnings per share for the current year.

Bristol-Myers Squibb Increases Dividend

The firm 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 represents a $2.48 dividend on an annualized basis and a yield of 4.20%. This is an increase from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. The ex-dividend date is Friday, January 3rd. Bristol-Myers Squibb’s dividend payout ratio is presently -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.