Bristol-Myers Squibb (NYSE:BMY) EVP Acquires $100,046.10 in Stock

Bristol-Myers Squibb (NYSE:BMY) EVP Samit Hirawat acquired 1,830 shares of Bristol-Myers Squibb stock in a transaction on Friday, November 1st. The stock was purchased at an average cost of $54.67 per share, with a total value of $100,046.10. Following the purchase, the executive vice president now directly owns 62,109 shares of the company’s stock, valued at approximately $3,395,499.03. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link.

Bristol-Myers Squibb Stock Down 1.2 %

BMY stock opened at $55.28 on Thursday. The stock’s fifty day simple moving average is $51.69 and its two-hundred day simple moving average is $46.72. The company has a current ratio of 1.24, a quick ratio of 1.09 and a debt-to-equity ratio of 2.83. Bristol-Myers Squibb has a 1-year low of $39.35 and a 1-year high of $56.80. The stock has a market cap of $112.12 billion, a P/E ratio of -15.40, a P/E/G ratio of 13.14 and a beta of 0.44.

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. Bristol-Myers Squibb had a positive return on equity of 11.94% and a negative net margin of 15.30%. The business had revenue of $11.89 billion for the quarter, compared to analysts’ expectations of $11.26 billion. During the same quarter in the previous year, the firm earned $2.00 earnings per share. The business’s revenue was up 8.4% on a year-over-year basis. Analysts expect that Bristol-Myers Squibb will post 0.83 EPS for the current year.

Bristol-Myers Squibb Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 4th were paid a $0.60 dividend. The ex-dividend date of this dividend was Friday, October 4th. This represents a $2.40 annualized dividend and a dividend yield of 4.34%. Bristol-Myers Squibb’s payout ratio is presently -66.85%.

Institutional Trading of Bristol-Myers Squibb

Several hedge funds have recently made changes to their positions in the company. Capital International Investors raised its stake in shares of Bristol-Myers Squibb by 14.1% in the first quarter. Capital International Investors now owns 70,203,814 shares of the biopharmaceutical company’s stock valued at $3,807,153,000 after buying an additional 8,675,322 shares during the period. Primecap Management Co. CA raised its stake in shares of Bristol-Myers Squibb by 1.0% during the 2nd quarter. Primecap Management Co. CA now owns 23,498,604 shares of the biopharmaceutical company’s stock valued at $975,897,000 after purchasing an additional 225,197 shares during the period. Legal & General Group Plc raised its stake in shares of Bristol-Myers Squibb by 3.8% during the 2nd quarter. Legal & General Group Plc now owns 20,225,040 shares of the biopharmaceutical company’s stock valued at $839,946,000 after purchasing an additional 735,613 shares during the period. Independent Franchise Partners LLP raised its stake in shares of Bristol-Myers Squibb by 4.0% during the 2nd quarter. Independent Franchise Partners LLP now owns 14,600,621 shares of the biopharmaceutical company’s stock valued at $606,364,000 after purchasing an additional 556,295 shares during the period. Finally, Pzena Investment Management LLC raised its stake in shares of Bristol-Myers Squibb by 15.0% during the 2nd quarter. Pzena Investment Management LLC now owns 14,134,337 shares of the biopharmaceutical company’s stock valued at $586,999,000 after purchasing an additional 1,840,424 shares during the period. 76.41% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. UBS Group raised their price objective on Bristol-Myers Squibb from $50.00 to $54.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. BMO Capital Markets raised their price objective on Bristol-Myers Squibb from $53.00 to $57.00 and gave the company a “market perform” rating in a research note on Friday, November 1st. Citigroup cut Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $75.00 to $55.00 in a research note on Friday, October 25th. TD Cowen raised their price objective on Bristol-Myers Squibb from $53.00 to $59.00 and gave the company a “hold” rating in a research note on Monday, October 7th. Finally, Barclays raised their price objective on Bristol-Myers Squibb from $42.00 to $43.00 and gave the company an “underweight” rating in a research note on Monday, October 7th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $53.00.

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.