Silver Lake Advisory LLC Raises Position in Bristol-Myers Squibb (NYSE:BMY)

Silver Lake Advisory LLC boosted its position in Bristol-Myers Squibb (NYSE:BMY) by 1.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 29,953 shares of the biopharmaceutical company’s stock after purchasing an additional 282 shares during the period. Silver Lake Advisory LLC’s holdings in Bristol-Myers Squibb were worth $1,694,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. FMR LLC raised its position in shares of Bristol-Myers Squibb by 10.5% in the third quarter. FMR LLC now owns 44,940,609 shares of the biopharmaceutical company’s stock valued at $2,325,227,000 after purchasing an additional 4,275,787 shares during the period. Jennison Associates LLC boosted its holdings in shares of Bristol-Myers Squibb by 420.1% in the third quarter. Jennison Associates LLC now owns 4,241,255 shares of the biopharmaceutical company’s stock worth $219,443,000 after acquiring an additional 3,425,789 shares during the period. Janus Henderson Group PLC grew its position in shares of Bristol-Myers Squibb by 695.1% in the third quarter. Janus Henderson Group PLC now owns 3,554,758 shares of the biopharmaceutical company’s stock valued at $183,971,000 after purchasing an additional 3,107,672 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Bristol-Myers Squibb by 18.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 19,074,823 shares of the biopharmaceutical company’s stock valued at $986,931,000 after purchasing an additional 3,002,418 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in Bristol-Myers Squibb by 3.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 61,030,403 shares of the biopharmaceutical company’s stock worth $3,157,713,000 after purchasing an additional 1,968,729 shares during the period. 76.41% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. TD Cowen upped their price target on Bristol-Myers Squibb from $53.00 to $59.00 and gave the company a “hold” rating in a research report on Monday, October 7th. BMO Capital Markets boosted their price target on shares of Bristol-Myers Squibb from $57.00 to $61.00 and gave the company a “market perform” rating in a research report on Tuesday, November 12th. Daiwa America raised Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 13th. Sanford C. Bernstein started coverage on Bristol-Myers Squibb in a research note on Thursday, October 17th. They issued a “market perform” rating and a $56.00 target price on the stock. Finally, 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. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, four have assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $56.27.

Bristol-Myers Squibb Stock Up 3.6 %

BMY opened at $59.15 on Friday. 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 1 year low of $39.35 and a 1 year high of $61.08. The stock’s 50 day simple moving average is $57.39 and its 200 day simple moving average is $52.36.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 EPS 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 negative net margin of 15.30% and a positive return on equity of 11.94%. The firm’s revenue was up 8.4% compared to the same quarter last year. During the same period in the prior year, the business posted $2.00 EPS. As a group, sell-side analysts anticipate that Bristol-Myers Squibb will post 0.92 EPS for the current fiscal year.

Bristol-Myers Squibb Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 3rd will be given a dividend of $0.62 per share. This is a positive change from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. The ex-dividend date is Friday, January 3rd. This represents a $2.48 dividend on an annualized basis and a yield of 4.19%. Bristol-Myers Squibb’s dividend payout ratio is presently -69.08%.

Insiders Place Their Bets

In other news, SVP Phil M. Holzer sold 700 shares of the business’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $55.62, for a total transaction 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 5.62 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Samit Hirawat purchased 1,830 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The stock was acquired at an average price of $54.67 per share, with a total value of $100,046.10. Following the completion of the purchase, the executive vice president now owns 62,109 shares in the company, valued at $3,395,499.03. This represents a 3.04 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company 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.