Stonehage Fleming Financial Services Holdings Ltd Acquires New Shares in Bristol-Myers Squibb (NYSE:BMY)

Stonehage Fleming Financial Services Holdings Ltd bought a new position in shares of Bristol-Myers Squibb (NYSE:BMY) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 8,658 shares of the biopharmaceutical company’s stock, valued at approximately $490,000.

Other institutional investors also recently modified their holdings of the company. State Street Corp raised its position in Bristol-Myers Squibb by 1.6% in the 3rd quarter. State Street Corp now owns 92,896,580 shares of the biopharmaceutical company’s stock valued at $4,806,469,000 after buying an additional 1,451,214 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Bristol-Myers Squibb by 3.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 61,030,403 shares of the biopharmaceutical company’s stock worth $3,157,713,000 after acquiring an additional 1,968,729 shares during the period. FMR LLC boosted its holdings in shares of Bristol-Myers Squibb by 10.5% during the third quarter. FMR LLC now owns 44,940,609 shares of the biopharmaceutical company’s stock worth $2,325,227,000 after acquiring an additional 4,275,787 shares during the period. Geode Capital Management LLC increased its position in Bristol-Myers Squibb by 2.5% during the 3rd quarter. Geode Capital Management LLC now owns 43,204,016 shares of the biopharmaceutical company’s stock worth $2,228,425,000 after buying an additional 1,036,495 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Bristol-Myers Squibb by 18.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 19,074,823 shares of the biopharmaceutical company’s stock valued at $986,931,000 after purchasing an additional 3,002,418 shares during the period. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Bristol-Myers Squibb Price Performance

Shares of NYSE:BMY opened at $59.68 on Monday. The stock has a market capitalization of $121.05 billion, a PE ratio of -16.63, a price-to-earnings-growth 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. The firm’s 50 day moving average price is $57.47 and its 200-day moving average price is $52.62. Bristol-Myers Squibb has a twelve month low of $39.35 and a twelve month high of $61.08.

Bristol-Myers Squibb (NYSE:BMY) last released its earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 EPS for the quarter, topping the consensus estimate of $1.49 by $0.31. The firm had revenue of $11.89 billion for 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 previous year, the firm earned $2.00 earnings per share. Equities research analysts expect that Bristol-Myers Squibb will post 0.92 EPS for the current year.

Bristol-Myers Squibb Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 3rd will be given a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 4.16%. This is a boost from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Friday, January 3rd. Bristol-Myers Squibb’s payout ratio is -69.08%.

Insiders Place Their Bets

In related news, EVP Samit Hirawat purchased 1,830 shares of the business’s stock in a transaction on Friday, November 1st. The shares were acquired at an average price of $54.67 per share, for a total transaction of $100,046.10. Following the purchase, the executive vice president now owns 62,109 shares of the company’s stock, valued at $3,395,499.03. This trade represents a 3.04 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Phil M. Holzer sold 700 shares of the firm’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 completion of the transaction, the senior vice president now owns 11,760 shares of the company’s stock, valued at approximately $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. 0.09% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages have recently issued reports on BMY. Jefferies Financial Group upgraded Bristol-Myers Squibb from a “hold” rating to a “buy” rating and lifted their price target for the company from $63.00 to $70.00 in a research note on Monday, December 16th. TD Cowen raised their price target on shares of Bristol-Myers Squibb from $53.00 to $59.00 and gave the company a “hold” rating in a research report on Monday, October 7th. Morgan Stanley lifted their price objective on shares of Bristol-Myers Squibb from $36.00 to $39.00 and gave the stock an “underweight” rating in a 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 target for the company from $55.00 to $73.00 in a research report on Tuesday, November 12th. Finally, Citigroup boosted their price objective on Bristol-Myers Squibb from $55.00 to $60.00 and gave the company a “neutral” rating in a research note on Tuesday, November 12th. Two analysts have rated the stock with a sell rating, thirteen have issued 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 stock currently has a consensus rating of “Hold” and a consensus target price of $56.27.

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.