First City Capital Management Inc. Increases Stock Position in Bristol-Myers Squibb (NYSE:BMY)

First City Capital Management Inc. raised its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 11.3% during the third quarter, HoldingsChannel reports. The fund owned 20,945 shares of the biopharmaceutical company’s stock after acquiring an additional 2,120 shares during the quarter. First City Capital Management Inc.’s holdings in Bristol-Myers Squibb were worth $1,084,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in BMY. Capital International Investors lifted its position in shares of 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 buying an additional 8,675,322 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in Bristol-Myers Squibb by 77.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,547,823 shares of the biopharmaceutical company’s stock valued at $680,469,000 after buying an additional 5,461,767 shares during the period. Federated Hermes Inc. increased its stake in Bristol-Myers Squibb by 86.3% during the 2nd quarter. Federated Hermes Inc. now owns 7,546,311 shares of the biopharmaceutical company’s stock valued at $313,398,000 after buying an additional 3,495,704 shares during the period. Swedbank AB acquired a new position in Bristol-Myers Squibb during the 1st quarter valued at about $158,223,000. Finally, State of Michigan Retirement System grew its stake in shares of Bristol-Myers Squibb by 147.7% in the 2nd quarter. State of Michigan Retirement System now owns 4,767,133 shares of the biopharmaceutical company’s stock worth $197,979,000 after purchasing an additional 2,842,400 shares during the last quarter. 76.41% of the stock is currently owned by institutional investors.

Insider Activity

In other news, EVP Samit Hirawat bought 1,830 shares of Bristol-Myers Squibb stock in a transaction dated Friday, November 1st. The shares were bought at an average price of $54.67 per share, for a total transaction of $100,046.10. Following the purchase, the executive vice president now owns 62,109 shares of the company’s stock, valued at approximately $3,395,499.03. This trade represents a 3.04 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, 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 completion of the sale, the senior vice president now owns 11,760 shares in the company, valued at $654,091.20. This represents a 5.62 % decrease in their position. The disclosure for this sale can be found here. 0.09% of the stock is owned by corporate insiders.

Bristol-Myers Squibb Stock Performance

BMY opened at $56.81 on Tuesday. Bristol-Myers Squibb has a fifty-two week low of $39.35 and a fifty-two week high of $61.08. The company has a current ratio of 1.24, a quick ratio of 1.09 and a debt-to-equity ratio of 2.83. The firm’s fifty day moving average price is $52.90 and its two-hundred day moving average price is $47.37.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $11.26 billion. During the same quarter in the previous year, the company earned $2.00 earnings per share. The business’s revenue was up 8.4% compared to the same quarter last year. On average, equities analysts anticipate that Bristol-Myers Squibb will post 0.93 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. Stockholders 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 4.22%. Bristol-Myers Squibb’s dividend payout ratio is presently -66.85%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on BMY shares. Leerink Partnrs raised shares of Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 12th. Barclays raised their price target on shares of Bristol-Myers Squibb from $42.00 to $43.00 and gave the stock an “underweight” rating in a report on Monday, October 7th. Sanford C. Bernstein began coverage on shares of Bristol-Myers Squibb in a report on Thursday, October 17th. They set a “market perform” rating and a $56.00 price target for the company. Morgan Stanley raised their price objective on shares of Bristol-Myers Squibb from $36.00 to $39.00 and gave the company an “underweight” rating in a research report on Tuesday, November 12th. Finally, Daiwa America raised shares of Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 13th. Two equities research analysts have rated the stock with a sell rating, fourteen have given 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 stock currently has an average rating of “Hold” and a consensus 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.