Bristol-Myers Squibb (NYSE:BMY) Shares Bought by Townsend & Associates Inc

Townsend & Associates Inc grew its stake in Bristol-Myers Squibb (NYSE:BMY) by 2.4% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 44,649 shares of the biopharmaceutical company’s stock after purchasing an additional 1,051 shares during the period. Townsend & Associates Inc’s holdings in Bristol-Myers Squibb were worth $2,369,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the stock. Capital International Investors raised its holdings in Bristol-Myers Squibb by 14.1% in the 1st quarter. Capital International Investors now owns 70,203,814 shares of the biopharmaceutical company’s stock worth $3,807,153,000 after purchasing an additional 8,675,322 shares during the period. M&G Plc acquired a new stake in Bristol-Myers Squibb in the 1st quarter valued at $392,608,000. Price T Rowe Associates Inc. MD increased its holdings in Bristol-Myers Squibb by 77.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,547,823 shares of the biopharmaceutical company’s stock worth $680,469,000 after acquiring an additional 5,461,767 shares in the last quarter. Federated Hermes Inc. raised its position in Bristol-Myers Squibb by 86.3% during the second quarter. Federated Hermes Inc. now owns 7,546,311 shares of the biopharmaceutical company’s stock worth $313,398,000 after acquiring an additional 3,495,704 shares during the period. Finally, Swedbank AB purchased a new position in Bristol-Myers Squibb during the first quarter valued at $158,223,000. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Insider Activity

In other Bristol-Myers Squibb news, SVP Phil M. Holzer sold 700 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were 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 $654,091.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, EVP Samit Hirawat bought 1,830 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The shares were purchased at an average cost of $54.67 per share, for a total transaction of $100,046.10. Following the completion of the purchase, the executive vice president now owns 62,109 shares of the company’s stock, valued at approximately $3,395,499.03. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Phil M. Holzer sold 700 shares of Bristol-Myers Squibb stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $55.62, for a total transaction 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 $654,091.20. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.09% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on BMY. Citigroup cut shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and cut their target price for the stock from $75.00 to $55.00 in a research note on Friday, October 25th. BMO Capital Markets increased their target price on Bristol-Myers Squibb from $53.00 to $57.00 and gave the company a “market perform” rating in a report on Friday, November 1st. Jefferies Financial Group boosted their price target on Bristol-Myers Squibb from $49.00 to $51.00 and gave the stock a “hold” rating in a research report on Wednesday, August 28th. Deutsche Bank Aktiengesellschaft decreased their price objective on Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating on the stock in a report on Tuesday, July 23rd. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $50.00 target price on shares of Bristol-Myers Squibb in a research report on Friday, October 18th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Bristol-Myers Squibb presently has a consensus rating of “Hold” and a consensus target price of $53.00.

Bristol-Myers Squibb Trading Down 1.0 %

Shares of BMY stock opened at $54.16 on Friday. The company has a 50-day moving average of $51.87 and a two-hundred day moving average of $46.81. The firm has a market cap of $109.85 billion, a PE ratio of -15.09, a price-to-earnings-growth ratio of 12.39 and a beta of 0.44. Bristol-Myers Squibb has a 1-year low of $39.35 and a 1-year high of $56.80. The company has a debt-to-equity ratio of 2.83, a current ratio of 1.24 and a quick ratio of 1.09.

Bristol-Myers Squibb (NYSE:BMY) last posted its 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. Bristol-Myers Squibb had a negative net margin of 15.30% and a positive return on equity of 11.94%. The firm had revenue of $11.89 billion during the quarter, compared to the consensus estimate of $11.26 billion. During the same quarter last year, the firm earned $2.00 EPS. The firm’s revenue for the quarter was up 8.4% on a year-over-year basis. On average, analysts predict that Bristol-Myers Squibb will post 0.9 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 4th were given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 4.43%. The ex-dividend date of this dividend was Friday, October 4th. Bristol-Myers Squibb’s dividend payout ratio is currently -66.85%.

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.