Sandy Cove Advisors LLC Takes $216,000 Position in Bristol-Myers Squibb (NYSE:BMY)

Sandy Cove Advisors LLC purchased a new stake in shares of Bristol-Myers Squibb (NYSE:BMY) in the 4th quarter, Holdings Channel reports. The fund purchased 3,824 shares of the biopharmaceutical company’s stock, valued at approximately $216,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Moss Adams Wealth Advisors LLC increased its holdings in shares of Bristol-Myers Squibb by 30.6% during the fourth quarter. Moss Adams Wealth Advisors LLC now owns 5,295 shares of the biopharmaceutical company’s stock worth $299,000 after buying an additional 1,242 shares in the last quarter. Riversedge Advisors LLC grew its position in Bristol-Myers Squibb by 11.5% during the 4th quarter. Riversedge Advisors LLC now owns 5,632 shares of the biopharmaceutical company’s stock worth $319,000 after acquiring an additional 583 shares during the last quarter. Udine Wealth Management Inc. increased its holdings in Bristol-Myers Squibb by 1.3% during the 4th quarter. Udine Wealth Management Inc. now owns 36,356 shares of the biopharmaceutical company’s stock valued at $2,056,000 after purchasing an additional 471 shares in the last quarter. Jackson Square Capital LLC bought a new position in Bristol-Myers Squibb in the 4th quarter valued at $1,369,000. Finally, Krilogy Financial LLC acquired a new position in Bristol-Myers Squibb in the fourth quarter worth $570,000. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Bristol-Myers Squibb

In other news, EVP Samit Hirawat purchased 1,830 shares of the company’s stock in a transaction on Friday, November 1st. The shares were purchased at an average price of $54.67 per share, with a total value of $100,046.10. Following the purchase, the executive vice president now directly owns 62,109 shares of the company’s stock, valued at $3,395,499.03. This trade represents a 3.04 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Phil M. Holzer sold 700 shares of the company’s 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 transaction, the senior vice president now directly owns 11,760 shares of the company’s stock, valued at $654,091.20. This represents a 5.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.09% of the company’s stock.

Analyst Ratings Changes

BMY has been the subject of a number of research analyst reports. Citigroup lifted their price target on Bristol-Myers Squibb from $55.00 to $60.00 and gave the company a “neutral” rating in a report on Tuesday, November 12th. Morgan Stanley upped their target price on shares of Bristol-Myers Squibb from $36.00 to $39.00 and gave the stock an “underweight” rating in a research report on Tuesday, November 12th. Jefferies Financial Group raised shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and raised their price target for the company from $63.00 to $70.00 in a report on Monday, December 16th. Leerink Partnrs raised Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 12th. Finally, Daiwa Capital Markets raised Bristol-Myers Squibb from a “neutral” rating to an “outperform” rating in a research note on Wednesday, November 13th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, four have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $56.27.

Bristol-Myers Squibb Trading Down 0.0 %

BMY opened at $56.35 on Friday. The firm’s fifty day moving average is $57.53 and its two-hundred day moving average is $51.92. The firm has a market cap of $114.30 billion, a PE ratio of -15.70, a price-to-earnings-growth ratio of 1.95 and a beta of 0.45. Bristol-Myers Squibb has a twelve month low of $39.35 and a twelve month high of $61.08. 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 (NYSE:BMY) last issued its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported $1.80 EPS for the quarter, topping 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 for the quarter, compared to the consensus estimate of $11.26 billion. During the same quarter last year, the business posted $2.00 EPS. The firm’s revenue was up 8.4% compared to the same quarter last year. Equities research analysts anticipate that Bristol-Myers Squibb will post 0.93 EPS for the current 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 paid a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 4.40%. This is a boost from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Friday, January 3rd. Bristol-Myers Squibb’s dividend payout ratio is presently -69.08%.

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.