Glenmede Trust Co. NA Reduces Holdings in Bristol-Myers Squibb (NYSE:BMY)

Glenmede Trust Co. NA cut its stake in Bristol-Myers Squibb (NYSE:BMY) by 23.9% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 943,271 shares of the biopharmaceutical company’s stock after selling 296,440 shares during the period. Glenmede Trust Co. NA’s holdings in Bristol-Myers Squibb were worth $48,805,000 as of its most recent filing with the Securities & Exchange Commission.

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

Bristol-Myers Squibb Price Performance

Shares of Bristol-Myers Squibb stock opened at $58.73 on Wednesday. The company has a current ratio of 1.24, a quick ratio of 1.09 and a debt-to-equity ratio of 2.83. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $61.08. The firm’s 50 day moving average is $54.02 and its two-hundred day moving average is $47.97.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 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 quarterly revenue was up 8.4% compared to the same quarter last year. On average, analysts predict that Bristol-Myers Squibb will post 0.93 earnings per share for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 4th were paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 4.09%. The ex-dividend date of this dividend was Friday, October 4th. Bristol-Myers Squibb’s dividend payout ratio is currently -66.85%.

Insiders Place Their Bets

In related news, EVP Samit Hirawat purchased 1,830 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was acquired at an average price of $54.67 per share, for a total transaction 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 $3,395,499.03. This trade represents a 3.04 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Phil M. Holzer sold 700 shares of Bristol-Myers Squibb stock in a transaction on Monday, November 4th. The shares were sold at an average price of $55.62, for a total transaction of $38,934.00. Following the completion of the transaction, the senior vice president now owns 11,760 shares in the company, valued at approximately $654,091.20. This trade represents a 5.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

BMY has been the subject of a number of recent research reports. Leerink Partnrs upgraded Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 12th. Daiwa Capital Markets raised shares of Bristol-Myers Squibb from a “neutral” rating to an “outperform” rating in a report on Wednesday, November 13th. Morgan Stanley increased their price objective on Bristol-Myers Squibb from $36.00 to $39.00 and gave the stock an “underweight” rating in a research report on Tuesday, November 12th. UBS Group lifted their price target on shares of Bristol-Myers Squibb from $50.00 to $54.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. Finally, Leerink Partners raised shares of Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $55.00 to $73.00 in a research report on Tuesday, November 12th. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating, two have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Bristol-Myers Squibb presently has an average rating of “Hold” and an average target price of $54.07.

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.