Bristol-Myers Squibb (NYSE:BMY) Shares Sold by OLD National Bancorp IN

OLD National Bancorp IN lowered its position in Bristol-Myers Squibb (NYSE:BMY) by 3.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 199,637 shares of the biopharmaceutical company’s stock after selling 7,277 shares during the period. OLD National Bancorp IN’s holdings in Bristol-Myers Squibb were worth $11,291,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Reston Wealth Management LLC acquired a new stake in shares of Bristol-Myers Squibb in the 3rd quarter worth approximately $25,000. Hollencrest Capital Management grew its holdings in shares of Bristol-Myers Squibb by 61.3% in the 3rd quarter. Hollencrest Capital Management now owns 492 shares of the biopharmaceutical company’s stock worth $25,000 after acquiring an additional 187 shares during the period. Kennebec Savings Bank acquired a new stake in shares of Bristol-Myers Squibb in the 3rd quarter worth approximately $28,000. Darwin Wealth Management LLC acquired a new stake in shares of Bristol-Myers Squibb in the 3rd quarter worth approximately $29,000. Finally, Valued Wealth Advisors LLC grew its holdings in Bristol-Myers Squibb by 1,168.1% during the 3rd quarter. Valued Wealth Advisors LLC now owns 596 shares of the biopharmaceutical company’s stock valued at $31,000 after buying an additional 549 shares during the last quarter. Institutional investors and hedge funds own 76.41% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Sanford C. Bernstein assumed coverage on Bristol-Myers Squibb in a report on Thursday, October 17th. They set a “market perform” rating and a $56.00 target price on the stock. Citigroup increased their target price on Bristol-Myers Squibb from $60.00 to $65.00 and gave the company a “neutral” rating in a report on Tuesday. TD Cowen increased their target price on Bristol-Myers Squibb from $53.00 to $59.00 and gave the company a “hold” rating in a report on Monday, October 7th. Daiwa America upgraded Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 13th. Finally, Leerink Partners upgraded Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and increased their target price for the company from $55.00 to $73.00 in a report on Tuesday, November 12th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, four have issued a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $56.60.

Insider Activity

In other news, SVP Phil M. Holzer sold 700 shares of the firm’s stock in a transaction dated Monday, November 4th. The stock was 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 directly owns 11,760 shares in the company, valued at $654,091.20. This trade represents a 5.62 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Samit Hirawat bought 1,830 shares of the stock in a transaction dated Friday, November 1st. The shares were acquired at an average price of $54.67 per share, with a total value of $100,046.10. Following the completion of the purchase, the executive vice president now directly owns 62,109 shares of the company’s stock, valued at approximately $3,395,499.03. This represents a 3.04 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.09% of the company’s stock.

Bristol-Myers Squibb Price Performance

Shares of NYSE BMY opened at $59.11 on Thursday. Bristol-Myers Squibb has a 12-month low of $39.35 and a 12-month high of $61.10. 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 stock has a fifty day moving average price of $57.56 and a 200 day moving average price of $52.97.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share (EPS) 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 firm had revenue of $11.89 billion during the quarter, compared to the consensus estimate of $11.26 billion. During the same period in the prior year, the firm earned $2.00 EPS. The firm’s quarterly revenue was up 8.4% compared to the same quarter last year. On average, analysts expect that Bristol-Myers Squibb will post 0.92 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. Stockholders of record on Friday, January 3rd will be paid a dividend of $0.62 per share. The ex-dividend date is Friday, January 3rd. This is an increase from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. This represents a $2.48 annualized dividend and a dividend yield of 4.20%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently -69.08%.

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.