Bristol-Myers Squibb (NYSE:BMY) Shares Bought by Navellier & Associates Inc.

Navellier & Associates Inc. increased its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 40.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 14,156 shares of the biopharmaceutical company’s stock after purchasing an additional 4,056 shares during the quarter. Navellier & Associates Inc.’s holdings in Bristol-Myers Squibb were worth $801,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Edmp Inc. increased its position in Bristol-Myers Squibb by 0.4% during the 4th quarter. Edmp Inc. now owns 41,599 shares of the biopharmaceutical company’s stock worth $2,353,000 after purchasing an additional 171 shares in the last quarter. Trust Point Inc. increased its position in Bristol-Myers Squibb by 1.9% during the 4th quarter. Trust Point Inc. now owns 9,423 shares of the biopharmaceutical company’s stock worth $533,000 after purchasing an additional 172 shares in the last quarter. Horst & Graben Wealth Management LLC increased its position in Bristol-Myers Squibb by 2.4% during the 4th quarter. Horst & Graben Wealth Management LLC now owns 7,538 shares of the biopharmaceutical company’s stock worth $426,000 after purchasing an additional 179 shares in the last quarter. Meridian Management Co. increased its position in Bristol-Myers Squibb by 0.6% during the 3rd 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 in the last quarter. Finally, Drive Wealth Management LLC increased its position in Bristol-Myers Squibb by 2.1% during the 4th quarter. Drive Wealth Management LLC now owns 8,878 shares of the biopharmaceutical company’s stock worth $502,000 after purchasing an additional 182 shares in the last quarter. Institutional investors and hedge funds own 76.41% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Samit Hirawat bought 1,823 shares of the company’s stock in a transaction on Friday, February 14th. The shares were purchased at an average cost of $54.84 per share, with a total value of $99,973.32. Following the completion of the transaction, the executive vice president now directly owns 63,932 shares of the company’s stock, valued at approximately $3,506,030.88. This represents a 2.94 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.09% of the stock is owned by corporate insiders.

Bristol-Myers Squibb Stock Performance

BMY stock opened at $55.85 on Friday. The company has a current ratio of 1.25, a quick ratio of 1.15 and a debt-to-equity ratio of 2.90. The firm has a market cap of $113.33 billion, a P/E ratio of -12.63, a P/E/G ratio of 2.07 and a beta of 0.45. Bristol-Myers Squibb has a 12-month low of $39.35 and a 12-month high of $61.10. The stock’s 50 day simple moving average is $56.99 and its 200 day simple moving average is $54.35.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share (EPS) for the quarter, beating 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 year.

Bristol-Myers Squibb Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, January 3rd were given a $0.62 dividend. The ex-dividend date was Friday, January 3rd. This is a positive change from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. This represents a $2.48 annualized dividend and a yield of 4.44%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently -56.11%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on BMY shares. Daiwa Capital Markets upgraded Bristol-Myers Squibb from a “neutral” rating to an “outperform” rating in a report on Wednesday, November 13th. Cantor Fitzgerald upped their price target on Bristol-Myers Squibb from $50.00 to $55.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. BMO Capital Markets upped their price target on Bristol-Myers Squibb from $57.00 to $61.00 and gave the stock a “market perform” rating in a report on Tuesday, November 12th. Jefferies Financial Group upgraded Bristol-Myers Squibb from a “hold” rating to a “buy” rating and upped their price target for the stock from $63.00 to $70.00 in a report on Monday, December 16th. Finally, Morgan Stanley upped their price target on Bristol-Myers Squibb from $36.00 to $39.00 and gave the stock an “underweight” rating in a report on Tuesday, November 12th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, four have given a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $57.86.

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.