Portfolio Design Labs LLC Takes Position in Bristol-Myers Squibb (NYSE:BMY)

Portfolio Design Labs LLC bought a new stake in Bristol-Myers Squibb (NYSE:BMY) in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm bought 37,706 shares of the biopharmaceutical company’s stock, valued at approximately $1,951,000.

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

Insider Transactions at Bristol-Myers Squibb

In related news, SVP Phil M. Holzer sold 700 shares of the business’s stock in a transaction 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 sale, the senior vice president now directly owns 11,760 shares in the company, valued at approximately $654,091.20. The trade was a 5.62 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Samit Hirawat bought 1,830 shares of the business’s stock in a transaction on Friday, November 1st. The stock was bought at an average price of $54.67 per share, with a total value of $100,046.10. Following the purchase, the executive vice president now owns 62,109 shares in the company, valued at $3,395,499.03. This trade represents a 3.04 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.09% of the company’s stock.

Bristol-Myers Squibb Trading Up 2.5 %

Shares of BMY stock opened at $58.21 on Wednesday. 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 has a market cap of $118.06 billion, a P/E ratio of -16.21, a PEG ratio of 15.08 and a beta of 0.44. The company has a 50 day moving average of $53.08 and a 200-day moving average of $47.47. Bristol-Myers Squibb has a 12-month low of $39.35 and a 12-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 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.49 by $0.31. The business had revenue of $11.89 billion during the quarter, compared to the consensus estimate 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 business’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same period last year, the business posted $2.00 earnings per share. Sell-side analysts anticipate that Bristol-Myers Squibb will post 0.93 earnings per share for the current year.

Bristol-Myers Squibb Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders 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 dividend on an annualized basis and a yield of 4.12%. Bristol-Myers Squibb’s dividend payout ratio is presently -66.85%.

Analyst Ratings Changes

BMY has been the subject of a number of recent research reports. Leerink Partners raised Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $55.00 to $73.00 in a report on Tuesday, November 12th. UBS Group lifted their target price on Bristol-Myers Squibb from $50.00 to $54.00 and gave the company 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 issued a “market perform” rating and a $56.00 price target for the company. Wolfe Research started coverage on shares of Bristol-Myers Squibb in a report on Friday, November 15th. They set a “peer perform” rating on the stock. Finally, Morgan Stanley increased their target price on shares of Bristol-Myers Squibb from $36.00 to $39.00 and gave the company an “underweight” rating in a report on Tuesday, November 12th. Two equities 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 issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $54.07.

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.