Eads & Heald Wealth Management Raises Holdings in Bristol-Myers Squibb (NYSE:BMY)

Eads & Heald Wealth Management raised its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 2.7% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 19,323 shares of the biopharmaceutical company’s stock after buying an additional 505 shares during the period. Eads & Heald Wealth Management’s holdings in Bristol-Myers Squibb were worth $1,093,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. ProShare Advisors LLC boosted its position in Bristol-Myers Squibb by 8.4% during the 2nd quarter. ProShare Advisors LLC now owns 338,422 shares of the biopharmaceutical company’s stock valued at $14,055,000 after acquiring an additional 26,267 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of Bristol-Myers Squibb by 14.1% in the second quarter. EverSource Wealth Advisors LLC now owns 5,695 shares of the biopharmaceutical company’s stock worth $237,000 after buying an additional 703 shares in the last quarter. Public Sector Pension Investment Board boosted its stake in Bristol-Myers Squibb by 71.2% during the 2nd quarter. Public Sector Pension Investment Board now owns 77,950 shares of the biopharmaceutical company’s stock valued at $3,237,000 after purchasing an additional 32,407 shares during the last quarter. Magnetar Financial LLC purchased a new stake in shares of Bristol-Myers Squibb during the second quarter valued at $636,000. Finally, Xponance Inc. grew its stake in shares of Bristol-Myers Squibb by 8.8% in the second quarter. Xponance Inc. now owns 317,381 shares of the biopharmaceutical company’s stock worth $13,181,000 after acquiring an additional 25,543 shares during the period. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Bristol-Myers Squibb Price Performance

NYSE BMY opened at $57.01 on Wednesday. The stock’s fifty day moving average price is $57.46 and its 200 day moving average price is $52.20. Bristol-Myers Squibb has a 1 year low of $39.35 and a 1 year high of $61.08. 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 cap of $115.63 billion, a price-to-earnings ratio of -15.88, a PEG ratio of 1.98 and a beta of 0.45.

Bristol-Myers Squibb (NYSE:BMY) last posted 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 negative net margin of 15.30% and a positive return on equity of 11.94%. The company had revenue of $11.89 billion during the quarter, compared to analyst estimates of $11.26 billion. During the same period last year, the firm posted $2.00 EPS. Bristol-Myers Squibb’s revenue for the quarter was up 8.4% compared to the same quarter last year. As a group, equities research analysts forecast that Bristol-Myers Squibb will post 0.92 earnings per share for the current year.

Bristol-Myers Squibb Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 3rd will be paid a $0.62 dividend. This is a boost from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. This represents a $2.48 annualized dividend and a dividend yield of 4.35%. The ex-dividend date is Friday, January 3rd. Bristol-Myers Squibb’s payout ratio is currently -69.08%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Cantor Fitzgerald restated a “neutral” rating and issued a $50.00 price target on shares of Bristol-Myers Squibb in a research note on Friday, October 18th. UBS Group raised their target price on shares of Bristol-Myers Squibb from $50.00 to $54.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Wolfe Research started coverage on Bristol-Myers Squibb in a research note on Friday, November 15th. They issued a “peer perform” rating for the company. Daiwa America upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 13th. Finally, Morgan Stanley increased their price target on Bristol-Myers Squibb from $36.00 to $39.00 and gave the company an “underweight” rating in a research note on Tuesday, November 12th. Two investment 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. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $56.27.

Insider Buying and Selling

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 of the company’s stock, valued at $654,091.20. This represents a 5.62 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Samit Hirawat purchased 1,830 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was bought at an average cost 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 $3,395,499.03. This trade represents 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 insiders.

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.