Rational Advisors LLC Buys 6,907 Shares of Bristol-Myers Squibb Co (NYSE:BMY)

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Rational Advisors LLC grew its stake in Bristol-Myers Squibb Co (NYSE:BMY) by 31.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 28,897 shares of the biopharmaceutical company’s stock after purchasing an additional 6,907 shares during the quarter. Rational Advisors LLC’s holdings in Bristol-Myers Squibb were worth $1,465,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Lodestar Investment Counsel LLC IL increased its stake in Bristol-Myers Squibb by 5.2% during the 2nd quarter. Lodestar Investment Counsel LLC IL now owns 113,720 shares of the biopharmaceutical company’s stock valued at $5,157,000 after purchasing an additional 5,579 shares in the last quarter. Cypress Capital Management LLC increased its stake in Bristol-Myers Squibb by 21.2% during the 2nd quarter. Cypress Capital Management LLC now owns 154,335 shares of the biopharmaceutical company’s stock valued at $6,999,000 after purchasing an additional 26,990 shares in the last quarter. Nachman Norwood & Parrott Inc increased its stake in Bristol-Myers Squibb by 3.5% during the 2nd quarter. Nachman Norwood & Parrott Inc now owns 50,388 shares of the biopharmaceutical company’s stock valued at $2,285,000 after purchasing an additional 1,687 shares in the last quarter. Edge Wealth Management LLC increased its stake in Bristol-Myers Squibb by 217.7% during the 2nd quarter. Edge Wealth Management LLC now owns 10,007 shares of the biopharmaceutical company’s stock valued at $452,000 after purchasing an additional 6,857 shares in the last quarter. Finally, KG&L Capital Management LLC increased its stake in Bristol-Myers Squibb by 38.6% during the 2nd quarter. KG&L Capital Management LLC now owns 17,104 shares of the biopharmaceutical company’s stock valued at $775,000 after purchasing an additional 4,761 shares in the last quarter. Institutional investors and hedge funds own 80.90% of the company’s stock.

Shares of NYSE BMY traded up $0.40 during trading on Wednesday, reaching $58.79. 13,395,631 shares of the company traded hands, compared to its average volume of 15,038,206. The firm has a 50 day simple moving average of $53.52 and a 200-day simple moving average of $48.46. The company has a quick ratio of 3.72, a current ratio of 3.83 and a debt-to-equity ratio of 1.37. The stock has a market capitalization of $94.53 billion, a PE ratio of 14.77, a P/E/G ratio of 1.35 and a beta of 0.71. Bristol-Myers Squibb Co has a 52-week low of $42.48 and a 52-week high of $59.17.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.11. The firm had revenue of $6.01 billion for the quarter, compared to the consensus estimate of $5.89 billion. Bristol-Myers Squibb had a net margin of 23.53% and a return on equity of 45.49%. The business’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same quarter last year, the firm posted $1.09 EPS. As a group, research analysts predict that Bristol-Myers Squibb Co will post 4.33 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 4th were issued a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.79%. The ex-dividend date of this dividend was Thursday, October 3rd. Bristol-Myers Squibb’s payout ratio is presently 41.21%.

A number of analysts have weighed in on BMY shares. ValuEngine lowered shares of Bristol-Myers Squibb from a “sell” rating to a “strong sell” rating in a research note on Friday, October 25th. JPMorgan Chase & Co. set a $62.00 price objective on shares of Bristol-Myers Squibb and gave the company a “buy” rating in a research note on Friday, September 13th. UBS Group raised their price objective on shares of Bristol-Myers Squibb from $51.00 to $53.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Atlantic Securities upgraded shares of Bristol-Myers Squibb from a “neutral” rating to an “overweight” rating and set a $63.00 price objective for the company in a research note on Wednesday, August 14th. Finally, Peel Hunt restated a “buy” rating on shares of Bristol-Myers Squibb in a research note on Tuesday, October 29th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $56.64.

In related news, insider Louis S. Schmukler sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $56.56, for a total value of $1,414,000.00. Following the transaction, the insider now owns 31,963 shares of the company’s stock, valued at $1,807,827.28. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP John E. Elicker sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $56.66, for a total transaction of $849,900.00. Following the completion of the transaction, the senior vice president now directly owns 74,471 shares in the company, valued at approximately $4,219,526.86. The disclosure for this sale can be found here. Company insiders own 0.13% of the company’s stock.

About Bristol-Myers Squibb

Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. The company offers drugs in oncology, immunoscience, cardiovascular, and fibrotic diseases. The company's products include Opdivo, a biological product for anti-cancer indications; Eliquis, an oral inhibitor targeted at stroke prevention in adult patients with non-valvular atrial fibrillation, and the prevention and treatment of venous thromboembolic disorders; and Orencia, a biological product for adult patients with moderately to severely active RA and prostate-specific antigen, as well as reducing signs and symptoms in certain pediatric patients with moderately to severely active polyarticular juvenile idiopathic arthritis.

Further Reading: Momentum Investing

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

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