Bristol-Myers Squibb (NYSE:BMY) Shares Acquired by Red Door Wealth Management LLC

Red Door Wealth Management LLC grew its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 4.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 10,788 shares of the biopharmaceutical company’s stock after buying an additional 435 shares during the period. Red Door Wealth Management LLC’s holdings in Bristol-Myers Squibb were worth $610,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. EverSource Wealth Advisors LLC grew its holdings in shares of Bristol-Myers Squibb by 14.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 5,695 shares of the biopharmaceutical company’s stock worth $237,000 after purchasing an additional 703 shares during the period. Public Sector Pension Investment Board boosted its position in shares of Bristol-Myers Squibb by 71.2% in the second quarter. Public Sector Pension Investment Board now owns 77,950 shares of the biopharmaceutical company’s stock worth $3,237,000 after buying an additional 32,407 shares during the period. Fred Alger Management LLC grew its stake in shares of Bristol-Myers Squibb by 9.9% in the second quarter. Fred Alger Management LLC now owns 41,496 shares of the biopharmaceutical company’s stock valued at $1,723,000 after buying an additional 3,726 shares in the last quarter. Armistice Capital LLC acquired a new stake in shares of Bristol-Myers Squibb in the second quarter valued at about $20,386,000. Finally, AQR Capital Management LLC raised its holdings in shares of Bristol-Myers Squibb by 14.0% during the 2nd quarter. AQR Capital Management LLC now owns 2,676,296 shares of the biopharmaceutical company’s stock valued at $111,147,000 after buying an additional 327,824 shares during the period. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Bristol-Myers Squibb

In other news, SVP Phil M. Holzer sold 700 shares of the company’s stock in a transaction that occurred on 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 transaction, the senior vice president now directly owns 11,760 shares in the company, valued at $654,091.20. The trade was a 5.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Samit Hirawat acquired 1,830 shares of the stock in a transaction dated Friday, November 1st. The stock was bought at an average price of $54.67 per share, for a total transaction of $100,046.10. Following the purchase, the executive vice president now owns 62,109 shares of the company’s stock, valued at $3,395,499.03. The trade was a 3.04 % increase in their position. The disclosure for this purchase can be found here. 0.09% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Cantor Fitzgerald reiterated a “neutral” rating and set a $50.00 price objective on shares of Bristol-Myers Squibb in a research note on Friday, October 18th. Daiwa America upgraded Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 13th. BMO Capital Markets lifted their price target on shares of Bristol-Myers Squibb from $57.00 to $61.00 and gave the stock a “market perform” 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 research report on Wednesday, November 13th. Finally, Sanford C. Bernstein initiated coverage on Bristol-Myers Squibb in a research note on Thursday, October 17th. They set a “market perform” rating and a $56.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, four have given a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $56.27.

Bristol-Myers Squibb Stock Performance

Shares of NYSE BMY opened at $59.15 on Friday. Bristol-Myers Squibb has a one year low of $39.35 and a one year high of $61.08. The business’s 50-day moving average price is $57.39 and its two-hundred day moving average price is $52.36. The company has a debt-to-equity ratio of 2.83, a current ratio of 1.24 and a quick ratio of 1.09. The company has a market capitalization of $119.97 billion, a P/E ratio of -16.48, a price-to-earnings-growth ratio of 2.02 and a beta of 0.45.

Bristol-Myers Squibb (NYSE:BMY) last posted its earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 EPS for the quarter, topping the consensus estimate of $1.49 by $0.31. The company had revenue of $11.89 billion during the quarter, compared to the consensus estimate of $11.26 billion. Bristol-Myers Squibb had a negative net margin of 15.30% and a positive return on equity of 11.94%. The company’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.00 earnings per share. Analysts anticipate that Bristol-Myers Squibb will post 0.92 earnings per share for the current fiscal year.

Bristol-Myers Squibb Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 3rd will be issued a dividend of $0.62 per share. 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 4.19%. The ex-dividend date is Friday, January 3rd. Bristol-Myers Squibb’s dividend payout ratio is currently -69.08%.

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.