Bristol-Myers Squibb (NYSE:BMY) Shares Acquired by Inspire Trust Co. N.A.

Inspire Trust Co. N.A. lifted its holdings in Bristol-Myers Squibb (NYSE:BMY) by 39.0% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 103,500 shares of the biopharmaceutical company’s stock after purchasing an additional 29,044 shares during the period. Bristol-Myers Squibb makes up 1.5% of Inspire Trust Co. N.A.’s holdings, making the stock its 15th biggest holding. Inspire Trust Co. N.A.’s holdings in Bristol-Myers Squibb were worth $5,355,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in BMY. Meridian Management Co. lifted its position in shares of Bristol-Myers Squibb by 0.6% during the third quarter. Meridian Management Co. now owns 28,283 shares of the biopharmaceutical company’s stock worth $1,463,000 after purchasing an additional 182 shares during the last quarter. Hollencrest Capital Management lifted its holdings in Bristol-Myers Squibb by 61.3% during the 3rd quarter. Hollencrest Capital Management now owns 492 shares of the biopharmaceutical company’s stock worth $25,000 after buying an additional 187 shares during the last quarter. Dunhill Financial LLC grew its position in shares of Bristol-Myers Squibb by 39.8% in the 3rd quarter. Dunhill Financial LLC now owns 664 shares of the biopharmaceutical company’s stock worth $34,000 after acquiring an additional 189 shares in the last quarter. Mayflower Financial Advisors LLC raised its position in shares of Bristol-Myers Squibb by 2.3% during the 3rd quarter. Mayflower Financial Advisors LLC now owns 8,466 shares of the biopharmaceutical company’s stock valued at $438,000 after acquiring an additional 192 shares in the last quarter. Finally, Patriot Financial Group Insurance Agency LLC lifted its stake in Bristol-Myers Squibb by 3.8% during the third quarter. Patriot Financial Group Insurance Agency LLC now owns 5,595 shares of the biopharmaceutical company’s stock worth $289,000 after purchasing an additional 206 shares during the last quarter. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Bristol-Myers Squibb

In related news, EVP Samit Hirawat bought 1,830 shares of Bristol-Myers Squibb stock in a transaction dated Friday, November 1st. The stock was acquired at an average cost of $54.67 per share, with a total value of $100,046.10. Following the completion of the acquisition, the executive vice president now directly owns 62,109 shares in the company, valued at approximately $3,395,499.03. This trade represents a 3.04 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Phil M. Holzer sold 700 shares of Bristol-Myers Squibb stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $55.62, for a total value of $38,934.00. Following the completion of the transaction, the senior vice president now directly 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. Company insiders own 0.09% of the company’s stock.

Bristol-Myers Squibb Trading Down 0.7 %

Shares of NYSE:BMY opened at $56.28 on Friday. The stock’s 50 day moving average price is $55.82 and its 200 day moving average price is $49.17. 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 has a 12 month low of $39.35 and a 12 month high of $61.08.

Bristol-Myers Squibb (NYSE:BMY) last announced its earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.31. Bristol-Myers Squibb had a positive return on equity of 11.94% and a negative net margin of 15.30%. The business had revenue of $11.89 billion during the quarter, compared to analysts’ expectations of $11.26 billion. During the same quarter last year, the business posted $2.00 earnings per share. The company’s quarterly revenue was up 8.4% on a year-over-year basis. As a group, equities research analysts anticipate that Bristol-Myers Squibb will post 0.93 EPS for the current fiscal year.

Bristol-Myers Squibb Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 3rd will be issued a $0.62 dividend. This is an increase from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.41%. The ex-dividend date of this dividend is Friday, January 3rd. Bristol-Myers Squibb’s payout ratio is presently -66.85%.

Analysts Set New Price Targets

Several analysts have weighed in on BMY shares. Leerink Partners upgraded shares of Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $55.00 to $73.00 in a research note on Tuesday, November 12th. Leerink Partnrs raised shares of Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 12th. Morgan Stanley raised their target price on shares of Bristol-Myers Squibb from $36.00 to $39.00 and gave the stock an “underweight” rating in a report on Tuesday, November 12th. Bank of America reaffirmed a “neutral” rating and set a $63.00 target price on shares of Bristol-Myers Squibb in a report on Tuesday. Finally, Citigroup raised their price target on Bristol-Myers Squibb from $55.00 to $60.00 and gave the stock a “neutral” rating in a report on Tuesday, November 12th. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, two have assigned a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $54.29.

Bristol-Myers Squibb 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.