Bristol Myers Squibb Company $BMY Position Raised by Ritholtz Wealth Management

Ritholtz Wealth Management boosted its holdings in shares of Bristol Myers Squibb Company (NYSE:BMY) by 31.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 223,042 shares of the biopharmaceutical company’s stock after buying an additional 53,567 shares during the quarter. Ritholtz Wealth Management’s holdings in Bristol Myers Squibb were worth $13,918,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of BMY. Davis Asset Management L.P. acquired a new stake in shares of Bristol Myers Squibb in the second quarter worth about $27,000. Addison Advisors LLC acquired a new position in shares of Bristol Myers Squibb during the 2nd quarter valued at about $32,000. William Mack & Associates Inc. acquired a new position in shares of Bristol Myers Squibb during the 3rd quarter valued at about $35,000. Groupe la Francaise raised its stake in shares of Bristol Myers Squibb by 562.9% in the 2nd quarter. Groupe la Francaise now owns 590 shares of the biopharmaceutical company’s stock valued at $33,000 after acquiring an additional 501 shares in the last quarter. Finally, Kilter Group LLC bought a new position in shares of Bristol Myers Squibb in the 2nd quarter valued at approximately $35,000. 76.41% of the stock is currently owned by institutional investors.

Insider Activity at Bristol Myers Squibb

In other news, Director Julia A. Haller sold 3,800 shares of the company’s stock in a transaction that occurred on Thursday, November 5th. The stock was sold at an average price of $63.31, for a total transaction of $240,578.00. Following the completion of the transaction, the director directly owned 30,279 shares in the company, valued at $1,916,963.49. The trade was a 11.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Phil M. Holzer sold 500 shares of the stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $67.50, for a total value of $33,750.00. Following the completion of the sale, the senior vice president directly owned 16,862 shares of the company’s stock, valued at $1,138,185. This represents a 2.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.05% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on BMY. Roth Capital started coverage on Bristol Myers Squibb in a report on Wednesday, August 5th. They issued a “buy” rating and a $75.00 target price for the company. Citigroup reiterated a “neutral” rating and set a $70.00 price target (up from $66.00) on shares of Bristol Myers Squibb in a report on Monday, August 3rd. Rothschild & Co Redburn lifted their price target on shares of Bristol Myers Squibb from $51.00 to $53.00 and gave the company a “neutral” rating in a research report on Thursday, October 8th. Leerink Partners lowered shares of Bristol Myers Squibb from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $73.00 to $59.00 in a research report on Monday, October 5th. Finally, Wells Fargo & Company reduced their price objective on shares of Bristol Myers Squibb from $65.00 to $60.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 13th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, sixteen have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Bristol Myers Squibb currently has a consensus rating of “Hold” and an average target price of $65.46.

Bristol Myers Squibb Trading Up 0.2%

Shares of NYSE:BMY opened at $62.91 on Thursday. The company has a market cap of $128.59 billion, a P/E ratio of 13.95, a P/E/G ratio of 0.32 and a beta of 0.20. The stock’s 50-day moving average is $62.09 and its 200-day moving average is $60.23. Bristol Myers Squibb Company has a 52-week low of $45.26 and a 52-week high of $68.64. The company has a debt-to-equity ratio of 1.79, a quick ratio of 1.44 and a current ratio of 1.59.

Bristol Myers Squibb (NYSE:BMY) last posted its quarterly earnings data on Thursday, October 29th. The biopharmaceutical company reported $1.35 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.25. Bristol Myers Squibb had a return on equity of 60.48% and a net margin of 18.47%. The business had revenue of $13.07 billion for the quarter, compared to analyst estimates of $12.72 billion. During the same period in the previous year, the company posted $1.63 earnings per share. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. Equities research analysts predict that Bristol Myers Squibb Company will post 6.45 earnings per share for the current year.

Bristol Myers Squibb Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, November 2nd. Shareholders of record on Friday, October 2nd were issued a $0.63 dividend. The ex-dividend date of this dividend was Friday, October 2nd. This represents a $2.52 dividend on an annualized basis and a yield of 4.0%. Bristol Myers Squibb’s dividend payout ratio (DPR) is 55.88%.

Bristol Myers Squibb Company Profile

Bristol Myers Squibb is a global biopharmaceutical company that discovers, develops, manufactures and markets medicines. Its research and commercial activities focus on serious diseases, particularly cancer, blood disorders, immune-mediated conditions and cardiovascular disease. The company’s medicines include Opdivo and Yervoy for cancer, Eliquis for preventing and treating blood clots, and Orencia for certain autoimmune conditions. Its portfolio also includes treatments for hematologic diseases and other serious illnesses.