Proficio Capital Partners LLC Takes Position in Bristol-Myers Squibb (NYSE:BMY)

Proficio Capital Partners LLC purchased a new position in shares of Bristol-Myers Squibb (NYSE:BMY) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 240,323 shares of the biopharmaceutical company’s stock, valued at approximately $13,593,000.

Other hedge funds also recently modified their holdings of the company. Reston Wealth Management LLC purchased a new position in shares of Bristol-Myers Squibb during the 3rd quarter valued at $25,000. Hollencrest Capital Management raised its stake in Bristol-Myers Squibb by 61.3% in the 3rd quarter. Hollencrest Capital Management now owns 492 shares of the biopharmaceutical company’s stock valued at $25,000 after acquiring an additional 187 shares during the period. Kennebec Savings Bank purchased a new stake in Bristol-Myers Squibb during the third quarter valued at about $28,000. Darwin Wealth Management LLC bought a new position in Bristol-Myers Squibb during the third quarter worth about $29,000. Finally, Dunhill Financial LLC increased its stake in shares of Bristol-Myers Squibb by 39.8% in the third quarter. Dunhill Financial LLC now owns 664 shares of the biopharmaceutical company’s stock worth $34,000 after purchasing an additional 189 shares in the last quarter. Institutional investors own 76.41% of the company’s stock.

Insiders Place Their Bets

In other Bristol-Myers Squibb news, EVP Samit Hirawat bought 1,823 shares of Bristol-Myers Squibb stock in a transaction that occurred on Friday, February 14th. The shares were bought at an average price of $54.84 per share, with a total value of $99,973.32. Following the acquisition, the executive vice president now owns 63,932 shares in the company, valued at approximately $3,506,030.88. This trade represents a 2.94 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.09% of the company’s stock.

Analyst Ratings Changes

BMY has been the subject of several analyst reports. Morgan Stanley raised their price objective 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. Wells Fargo & Company raised their price target on Bristol-Myers Squibb from $60.00 to $62.00 and gave the stock an “equal weight” rating in a report on Friday, February 7th. Leerink Partners upgraded Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $55.00 to $73.00 in a research note on Tuesday, November 12th. Cantor Fitzgerald raised their target price on Bristol-Myers Squibb from $50.00 to $55.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. Finally, Leerink Partnrs raised Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 12th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, four have issued a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, Bristol-Myers Squibb presently has an average rating of “Hold” and an average target price of $57.86.

Bristol-Myers Squibb Stock Performance

NYSE BMY opened at $59.71 on Friday. Bristol-Myers Squibb has a 52-week low of $39.35 and a 52-week high of $61.10. The company has a fifty day moving average of $57.15 and a 200-day moving average of $54.74. The company has a market capitalization of $121.17 billion, a P/E ratio of -13.51, a P/E/G ratio of 2.07 and a beta of 0.45. The company has a debt-to-equity ratio of 2.90, a quick ratio of 1.15 and a current ratio of 1.25.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.47 by $0.20. Bristol-Myers Squibb had a positive return on equity of 13.93% and a negative net margin of 18.53%. As a group, equities research analysts predict that Bristol-Myers Squibb will post 6.74 EPS for the current fiscal year.

Bristol-Myers Squibb Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, January 3rd were given a dividend of $0.62 per share. This is a boost from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. This represents a $2.48 dividend on an annualized basis and a yield of 4.15%. The ex-dividend date was Friday, January 3rd. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -56.11%.

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.