Clarendon Private LLC Makes New Investment in Bristol-Myers Squibb (NYSE:BMY)

Clarendon Private LLC bought a new stake in shares of Bristol-Myers Squibb (NYSE:BMY) during the fourth quarter, HoldingsChannel reports. The firm bought 10,527 shares of the biopharmaceutical company’s stock, valued at approximately $595,000.

Other hedge funds have also recently modified their holdings of the company. Crescent Grove Advisors LLC lifted its position in Bristol-Myers Squibb by 11.8% during the 4th quarter. Crescent Grove Advisors LLC now owns 4,349 shares of the biopharmaceutical company’s stock valued at $246,000 after acquiring an additional 459 shares during the period. Investment Research & Advisory Group Inc. bought a new position in shares of Bristol-Myers Squibb during the fourth quarter valued at approximately $51,000. Duncan Williams Asset Management LLC lifted its holdings in shares of Bristol-Myers Squibb by 79.5% during the fourth quarter. Duncan Williams Asset Management LLC now owns 7,268 shares of the biopharmaceutical company’s stock valued at $411,000 after purchasing an additional 3,219 shares during the last quarter. Moody Lynn & Lieberson LLC boosted its position in shares of Bristol-Myers Squibb by 585.8% in the 4th quarter. Moody Lynn & Lieberson LLC now owns 157,930 shares of the biopharmaceutical company’s stock worth $8,933,000 after purchasing an additional 134,901 shares in the last quarter. Finally, Insight Inv LLC grew its stake in shares of Bristol-Myers Squibb by 39.0% in the 4th quarter. Insight Inv LLC now owns 30,859 shares of the biopharmaceutical company’s stock worth $1,745,000 after buying an additional 8,663 shares during the last quarter. Institutional investors own 76.41% of the company’s stock.

Insider Activity

In other Bristol-Myers Squibb news, SVP Phil M. Holzer sold 700 shares of the firm’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 sale, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Samit Hirawat purchased 1,830 shares of the company’s stock in a transaction on Friday, November 1st. The stock was purchased at an average price of $54.67 per share, with a total value of $100,046.10. Following the completion of the transaction, the executive vice president now owns 62,109 shares of the company’s stock, valued at approximately $3,395,499.03. This trade represents a 3.04 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.09% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on BMY. BMO Capital Markets lifted their price objective on Bristol-Myers Squibb from $57.00 to $61.00 and gave the company a “market perform” rating in a research note on Tuesday, November 12th. Jefferies Financial Group raised Bristol-Myers Squibb from a “hold” rating to a “buy” rating and lifted their price target for the stock from $63.00 to $70.00 in a research report on Monday, December 16th. 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. Leerink Partners raised shares of Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $55.00 to $73.00 in a report on Tuesday, November 12th. Finally, Bank of America reiterated a “neutral” rating and set a $63.00 price target on shares of Bristol-Myers Squibb in a report on Tuesday, December 10th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, four have given a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $56.27.

Bristol-Myers Squibb Stock Performance

Shares of BMY opened at $59.68 on Friday. The company has a quick ratio of 1.09, a current ratio of 1.24 and a debt-to-equity ratio of 2.83. Bristol-Myers Squibb has a one year low of $39.35 and a one year high of $61.08. The business has a fifty day moving average of $57.47 and a 200 day moving average of $52.54.

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, 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 business had revenue of $11.89 billion during the quarter, compared to the consensus estimate of $11.26 billion. During the same period in the previous year, the company posted $2.00 EPS. The business’s quarterly revenue was up 8.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Bristol-Myers Squibb will post 0.92 earnings per share for the current fiscal year.

Bristol-Myers Squibb Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 3rd will be given a $0.62 dividend. The ex-dividend date of this dividend is Friday, January 3rd. This is an increase from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. This represents a $2.48 annualized dividend and a yield of 4.16%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -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.