Signet Financial Management LLC Cuts Stock Position in Bristol-Myers Squibb (NYSE:BMY)

Signet Financial Management LLC trimmed its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 21.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,324 shares of the biopharmaceutical company’s stock after selling 3,633 shares during the period. Signet Financial Management LLC’s holdings in Bristol-Myers Squibb were worth $754,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. FMR LLC raised its stake in shares of Bristol-Myers Squibb by 10.5% during the third quarter. FMR LLC now owns 44,940,609 shares of the biopharmaceutical company’s stock worth $2,325,227,000 after acquiring an additional 4,275,787 shares in the last quarter. Jennison Associates LLC increased its stake in Bristol-Myers Squibb by 420.1% in the 3rd quarter. Jennison Associates LLC now owns 4,241,255 shares of the biopharmaceutical company’s stock worth $219,443,000 after purchasing an additional 3,425,789 shares during the period. Janus Henderson Group PLC lifted its position in Bristol-Myers Squibb by 695.1% in the third quarter. Janus Henderson Group PLC now owns 3,554,758 shares of the biopharmaceutical company’s stock valued at $183,971,000 after purchasing an additional 3,107,672 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Bristol-Myers Squibb by 18.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 19,074,823 shares of the biopharmaceutical company’s stock valued at $986,931,000 after purchasing an additional 3,002,418 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Bristol-Myers Squibb by 3.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 61,030,403 shares of the biopharmaceutical company’s stock worth $3,157,713,000 after purchasing an additional 1,968,729 shares during the last quarter. Institutional investors own 76.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Leerink Partnrs raised shares of Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 12th. Wolfe Research started coverage on Bristol-Myers Squibb in a research note on Friday, November 15th. They issued a “peer perform” rating on the stock. Jefferies Financial Group raised Bristol-Myers Squibb from a “hold” rating to a “buy” rating and upped their price target for the company from $63.00 to $70.00 in a research report on Monday, December 16th. Sanford C. Bernstein assumed coverage on Bristol-Myers Squibb in a research report on Thursday, October 17th. They issued a “market perform” rating and a $56.00 price objective on the stock. Finally, Morgan Stanley upped their target price on Bristol-Myers Squibb from $36.00 to $39.00 and gave the company an “underweight” rating in a report on Tuesday, November 12th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, four have given a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $56.27.

Insider Transactions at Bristol-Myers Squibb

In related news, SVP Phil M. Holzer sold 700 shares of the business’s stock in a transaction that occurred 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 sale, the senior vice president now directly owns 11,760 shares in the company, valued at approximately $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 SEC, which can be accessed through the SEC website. Also, EVP Samit Hirawat purchased 1,830 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were acquired 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 directly owns 62,109 shares in the company, valued at approximately $3,395,499.03. The trade was a 3.04 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.09% of the company’s stock.

Bristol-Myers Squibb Stock Down 0.9 %

Shares of BMY traded down $0.48 on Monday, hitting $55.35. 7,108,612 shares of the stock traded hands, compared to its average volume of 9,632,401. The company has a market capitalization of $112.26 billion, a PE ratio of -15.42, a P/E/G ratio of 15.20 and a beta of 0.45. Bristol-Myers Squibb has a one year low of $39.35 and a one year high of $61.08. The company has a debt-to-equity ratio of 2.83, a quick ratio of 1.09 and a current ratio of 1.24. The business has a 50 day simple moving average of $57.44 and a 200 day simple moving average of $51.56.

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 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 period in the prior year, the company posted $2.00 earnings per share. The company’s quarterly revenue was up 8.4% on a year-over-year basis. As a group, equities analysts forecast that Bristol-Myers Squibb will post 0.93 earnings per share for the current fiscal year.

Bristol-Myers Squibb Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders 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 a positive change 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 4.48%. Bristol-Myers Squibb’s payout ratio 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.