FNY Investment Advisers LLC Acquires 12,360 Shares of Bristol-Myers Squibb (NYSE:BMY)

FNY Investment Advisers LLC grew its stake in shares of Bristol-Myers Squibb (NYSE:BMYFree Report) by 17,657.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 12,430 shares of the biopharmaceutical company’s stock after purchasing an additional 12,360 shares during the quarter. FNY Investment Advisers LLC’s holdings in Bristol-Myers Squibb were worth $703,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. BCS Wealth Management purchased a new position in shares of Bristol-Myers Squibb in the fourth quarter valued at about $329,000. Miracle Mile Advisors LLC increased its holdings in Bristol-Myers Squibb by 6.6% during the 4th quarter. Miracle Mile Advisors LLC now owns 114,045 shares of the biopharmaceutical company’s stock valued at $6,450,000 after purchasing an additional 7,109 shares during the period. Davis Investment Partners LLC bought a new position in Bristol-Myers Squibb during the 4th quarter valued at approximately $408,000. Friedenthal Financial purchased a new stake in Bristol-Myers Squibb in the 4th quarter worth approximately $50,000. Finally, PPS&V Asset Management Consultants Inc. grew its position in shares of Bristol-Myers Squibb by 5.6% in the 4th quarter. PPS&V Asset Management Consultants Inc. now owns 5,824 shares of the biopharmaceutical company’s stock worth $329,000 after buying an additional 307 shares during the last quarter. Institutional investors own 76.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on BMY shares. Leerink Partners raised shares of Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $55.00 to $73.00 in a research report on Tuesday, November 12th. TD Cowen upped their target price on Bristol-Myers Squibb from $53.00 to $59.00 and gave the stock a “hold” rating in a report on Monday, October 7th. Bank of America restated a “neutral” rating and issued a $63.00 target price on shares of Bristol-Myers Squibb in a research note on Tuesday, December 10th. Citigroup upped their price target on Bristol-Myers Squibb from $55.00 to $60.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 12th. Finally, Wolfe Research assumed coverage on shares of Bristol-Myers Squibb in a report on Friday, November 15th. They set a “peer perform” rating on the stock. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, four have given a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $56.27.

Read Our Latest Analysis on BMY

Bristol-Myers Squibb Stock Performance

Shares of BMY stock opened at $55.35 on Tuesday. 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 50 day moving average price of $57.44 and a 200-day moving average price of $51.66. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $61.08. The firm has a market capitalization of $112.26 billion, a PE ratio of -15.42, a P/E/G ratio of 15.20 and a beta of 0.45.

Bristol-Myers Squibb (NYSE:BMYGet Free Report) last announced its earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share for the quarter, beating analysts’ consensus estimates of $1.49 by $0.31. The business had revenue of $11.89 billion during 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 quarterly revenue was up 8.4% compared to the same quarter last year. During the same period in the previous year, the business earned $2.00 EPS. As a group, equities research analysts expect that Bristol-Myers Squibb will post 0.93 earnings per share for the current year.

Bristol-Myers Squibb Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 3rd will be paid a dividend of $0.62 per share. 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 dividend yield of 4.48%. The ex-dividend date of this dividend is Friday, January 3rd. Bristol-Myers Squibb’s payout ratio is currently -69.08%.

Insider Activity

In other news, SVP Phil M. Holzer sold 700 shares of the company’s stock in a transaction on Monday, November 4th. The stock was 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 directly owns 11,760 shares in the company, valued at $654,091.20. This represents a 5.62 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Samit Hirawat bought 1,830 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were bought at an average price of $54.67 per share, for a total transaction of $100,046.10. Following the completion of the transaction, the executive vice president now directly 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 disclosure for this purchase can be found here. Insiders own 0.09% of the company’s stock.

About Bristol-Myers Squibb

(Free Report)

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.

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Institutional Ownership by Quarter for Bristol-Myers Squibb (NYSE:BMY)

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