Kovitz Investment Group Partners LLC Boosts Position in Bristol-Myers Squibb (NYSE:BMY)

Kovitz Investment Group Partners LLC increased its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 20.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 284,461 shares of the biopharmaceutical company’s stock after purchasing an additional 48,436 shares during the quarter. Kovitz Investment Group Partners LLC’s holdings in Bristol-Myers Squibb were worth $13,474,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Voya Financial Advisors Inc. purchased a new stake in Bristol-Myers Squibb during the third quarter worth approximately $206,000. Worldquant Millennium Advisors LLC lifted its stake in Bristol-Myers Squibb by 84.2% in the third quarter. Worldquant Millennium Advisors LLC now owns 553,656 shares of the biopharmaceutical company’s stock valued at $28,646,000 after buying an additional 253,040 shares during the last quarter. State Street Corp lifted its stake in Bristol-Myers Squibb by 1.6% in the third quarter. State Street Corp now owns 92,896,580 shares of the biopharmaceutical company’s stock valued at $4,806,469,000 after buying an additional 1,451,214 shares during the last quarter. Stevens Capital Management LP purchased a new stake in Bristol-Myers Squibb in the third quarter valued at approximately $1,474,000. Finally, Stifel Financial Corp lifted its stake in Bristol-Myers Squibb by 6.4% in the third quarter. Stifel Financial Corp now owns 1,991,717 shares of the biopharmaceutical company’s stock valued at $103,051,000 after buying an additional 119,469 shares during the last quarter. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Trading Up 0.9 %

Shares of BMY stock opened at $59.38 on Friday. The business’s fifty day moving average price is $55.31 and its 200 day moving average price is $48.63. Bristol-Myers Squibb has a 1-year low of $39.35 and a 1-year high of $61.08. The firm has a market capitalization of $120.43 billion, a PE ratio of -16.54, a P/E/G ratio of 15.75 and a beta of 0.45. 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 announced its quarterly earnings data 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. The firm had revenue of $11.89 billion for 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%. Bristol-Myers Squibb’s quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.00 earnings per share. As a group, sell-side analysts forecast that Bristol-Myers Squibb will post 0.93 EPS for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 4th were issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 4.04%. The ex-dividend date of this dividend was Friday, October 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is -66.85%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on BMY shares. TD Cowen boosted their price objective on Bristol-Myers Squibb from $53.00 to $59.00 and gave the company a “hold” rating in a research note on Monday, October 7th. Morgan Stanley boosted their price objective on Bristol-Myers Squibb from $36.00 to $39.00 and gave the company an “underweight” rating in a research note on Tuesday, November 12th. BMO Capital Markets boosted their price objective on Bristol-Myers Squibb from $57.00 to $61.00 and gave the company a “market perform” rating in a research note on Tuesday, November 12th. Leerink Partners upgraded Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $55.00 to $73.00 in a research note on Tuesday, November 12th. Finally, Wolfe Research initiated coverage on Bristol-Myers Squibb in a research note on Friday, November 15th. They set a “peer perform” rating for the company. Two 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 given a strong buy rating to the company’s stock. According to MarketBeat, Bristol-Myers Squibb has a consensus rating of “Hold” and an average target price of $54.07.

Insider Buying and Selling at Bristol-Myers Squibb

In other Bristol-Myers Squibb news, SVP Phil M. Holzer sold 700 shares of the company’s 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 owns 11,760 shares of the company’s stock, valued at approximately $654,091.20. This represents a 5.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Samit Hirawat acquired 1,830 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were bought at an average cost 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. The trade was a 3.04 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.09% of the stock is owned by corporate insiders.

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.