Raymond James Trust N.A. Raises Stake in Bristol-Myers Squibb (NYSE:BMY)

Raymond James Trust N.A. grew its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 5.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 117,655 shares of the biopharmaceutical company’s stock after acquiring an additional 5,932 shares during the quarter. Raymond James Trust N.A.’s holdings in Bristol-Myers Squibb were worth $6,087,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Patriot Financial Group Insurance Agency LLC boosted its holdings in Bristol-Myers Squibb by 3.8% during the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 5,595 shares of the biopharmaceutical company’s stock valued at $289,000 after acquiring an additional 206 shares during the period. Sheaff Brock Investment Advisors LLC boosted its stake in shares of Bristol-Myers Squibb by 34.3% during the third quarter. Sheaff Brock Investment Advisors LLC now owns 44,546 shares of the biopharmaceutical company’s stock valued at $2,305,000 after purchasing an additional 11,387 shares during the period. Graypoint LLC grew its holdings in shares of Bristol-Myers Squibb by 29.4% in the third quarter. Graypoint LLC now owns 11,293 shares of the biopharmaceutical company’s stock worth $584,000 after purchasing an additional 2,563 shares during the last quarter. Xponance Inc. increased its stake in shares of Bristol-Myers Squibb by 8.8% in the second quarter. Xponance Inc. now owns 317,381 shares of the biopharmaceutical company’s stock worth $13,181,000 after buying an additional 25,543 shares during the period. Finally, Plato Investment Management Ltd raised its holdings in Bristol-Myers Squibb by 25.4% during the 2nd quarter. Plato Investment Management Ltd now owns 103,954 shares of the biopharmaceutical company’s stock valued at $4,317,000 after buying an additional 21,041 shares during the last quarter. 76.41% of the stock is currently owned by institutional investors.

Bristol-Myers Squibb Stock Performance

Shares of BMY stock opened at $58.87 on Friday. The company has a market capitalization of $119.40 billion, a price-to-earnings ratio of -16.40, a price-to-earnings-growth ratio of 15.62 and a beta of 0.44. The company has a debt-to-equity ratio of 2.83, a quick ratio of 1.09 and a current ratio of 1.24. Bristol-Myers Squibb has a one year low of $39.35 and a one year high of $61.08. The company’s 50-day moving average is $53.66 and its 200 day moving average is $47.72.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.31. The company 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 firm’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter last year, the firm earned $2.00 earnings per share. Sell-side analysts expect that Bristol-Myers Squibb will post 0.93 EPS for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 4th were issued a $0.60 dividend. The ex-dividend date of this dividend was Friday, October 4th. This represents a $2.40 annualized dividend and a yield of 4.08%. Bristol-Myers Squibb’s payout ratio is -66.85%.

Analysts Set New Price Targets

BMY has been the topic of a number of analyst reports. StockNews.com upgraded shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 29th. Daiwa America upgraded Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 13th. Daiwa Capital Markets upgraded Bristol-Myers Squibb from a “neutral” rating to an “outperform” rating in a report on Wednesday, November 13th. Morgan Stanley boosted their target price on Bristol-Myers Squibb from $36.00 to $39.00 and gave the company an “underweight” rating in a research note on Tuesday, November 12th. Finally, Leerink Partners raised Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $55.00 to $73.00 in a research note on Tuesday, November 12th. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, two have issued a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $54.07.

Insiders Place Their Bets

In related news, SVP Phil M. Holzer sold 700 shares of Bristol-Myers Squibb 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 owns 11,760 shares of the company’s stock, valued at $654,091.20. The trade was a 5.62 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Samit Hirawat bought 1,830 shares of the company’s stock in a transaction on Friday, November 1st. The stock was purchased at an average cost 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 approximately $3,395,499.03. The trade was a 3.04 % increase in their position. The disclosure for this purchase can be found here. 0.09% of the stock is owned by insiders.

Bristol-Myers Squibb Company Profile

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.