Oppenheimer Asset Management Inc. Increases Position in Bristol-Myers Squibb (NYSE:BMY)

Oppenheimer Asset Management Inc. lifted its stake in Bristol-Myers Squibb (NYSE:BMY) by 5.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 495,233 shares of the biopharmaceutical company’s stock after buying an additional 27,239 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Bristol-Myers Squibb were worth $25,623,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of BMY. Atomi Financial Group Inc. acquired a new stake in shares of Bristol-Myers Squibb in the first quarter worth approximately $231,000. Avantax Advisory Services Inc. increased its stake in Bristol-Myers Squibb by 3.5% during the first quarter. Avantax Advisory Services Inc. now owns 69,961 shares of the biopharmaceutical company’s stock valued at $3,794,000 after purchasing an additional 2,336 shares during the last quarter. TD Asset Management Inc increased its stake in Bristol-Myers Squibb by 2.7% during the first quarter. TD Asset Management Inc now owns 1,648,245 shares of the biopharmaceutical company’s stock valued at $89,384,000 after purchasing an additional 42,682 shares during the last quarter. Souders Financial Advisors acquired a new position in shares of Bristol-Myers Squibb during the first quarter valued at $370,000. Finally, TBH Global Asset Management LLC lifted its holdings in Bristol-Myers Squibb by 10.4% in the first quarter. TBH Global Asset Management LLC now owns 9,656 shares of the biopharmaceutical company’s stock worth $524,000 after purchasing an additional 906 shares during the period. Institutional investors and hedge funds own 76.41% of the company’s stock.

Bristol-Myers Squibb Price Performance

Bristol-Myers Squibb stock traded down $0.29 during mid-day trading on Wednesday, hitting $58.73. 950,370 shares of the company were exchanged, compared to its average volume of 14,399,145. Bristol-Myers Squibb has a 1-year low of $39.35 and a 1-year high of $61.08. The company has a market capitalization of $119.12 billion, a PE ratio of -16.38, a price-to-earnings-growth ratio of 21.63 and a beta of 0.44. 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 business has a fifty day moving average of $52.24 and a 200 day moving average of $46.99.

Bristol-Myers Squibb (NYSE:BMY) last announced its earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share for the quarter, beating analysts’ consensus estimates of $1.49 by $0.31. The company had revenue of $11.89 billion during the quarter, compared to analyst estimates of $11.26 billion. Bristol-Myers Squibb had a positive return on equity of 11.94% and a negative net margin of 15.30%. The firm’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same period last year, the company posted $2.00 earnings per share. As a group, sell-side analysts expect that Bristol-Myers Squibb will post 0.92 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 4th were given a dividend of $0.60 per share. The ex-dividend date was Friday, October 4th. This represents a $2.40 annualized dividend and a dividend yield of 4.09%. Bristol-Myers Squibb’s payout ratio is currently -66.85%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. StockNews.com upgraded Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Monday, July 29th. Daiwa Capital Markets upgraded Bristol-Myers Squibb from a “neutral” rating to an “outperform” rating in a report on Wednesday. UBS Group upped their target price on Bristol-Myers Squibb from $50.00 to $54.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Sanford C. Bernstein initiated coverage on Bristol-Myers Squibb in a research report on Thursday, October 17th. They set a “market perform” rating and a $56.00 target price for the company. Finally, Leerink Partners raised Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $55.00 to $73.00 in a research report on Tuesday. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, two have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $54.07.

Insider Transactions at Bristol-Myers Squibb

In other Bristol-Myers Squibb news, SVP Phil M. Holzer sold 700 shares of the business’s stock in a transaction that occurred 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 sale, the senior vice president now owns 11,760 shares in the company, valued at approximately $654,091.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, EVP Samit Hirawat acquired 1,830 shares of the firm’s stock in a transaction on Friday, November 1st. The shares were purchased at an average cost of $54.67 per share, with a total value of $100,046.10. Following the acquisition, the executive vice president now directly owns 62,109 shares in the company, valued at $3,395,499.03. This represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Phil M. Holzer sold 700 shares of the 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 sale, the senior vice president now directly owns 11,760 shares in the company, valued at approximately $654,091.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.09% of the company’s stock.

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.