Pekin Hardy Strauss Inc. Grows Position in Bristol-Myers Squibb (NYSE:BMY)

by · The Markets Daily

Pekin Hardy Strauss Inc. raised its holdings in shares of Bristol-Myers Squibb (NYSE:BMY – Free Report) by 13.9% during the third quarter, according to its most recent filing with the SEC. The firm owned 29,552 shares of the biopharmaceutical company’s stock after purchasing an additional 3,600 shares during the period. Pekin Hardy Strauss Inc.’s holdings in Bristol-Myers Squibb were worth $1,529,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Reston Wealth Management LLC purchased a new position in Bristol-Myers Squibb during the third quarter valued at approximately $25,000. Hollencrest Capital Management lifted its holdings in Bristol-Myers Squibb by 61.3% during the third quarter. Hollencrest Capital Management now owns 492 shares of the biopharmaceutical company’s stock worth $25,000 after buying an additional 187 shares during the period. Kennebec Savings Bank bought a new stake in Bristol-Myers Squibb during the 3rd quarter valued at $28,000. Darwin Wealth Management LLC purchased a new position in shares of Bristol-Myers Squibb in the 3rd quarter valued at $29,000. Finally, Valued Wealth Advisors LLC raised its position in shares of 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 acquiring an additional 549 shares in the last quarter. Institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Trading Up 1.1 %

Bristol-Myers Squibb stock opened at $58.87 on Friday. The stock has a 50-day moving average price of $53.66 and a 200 day moving average price of $47.74. The company has a market capitalization of $119.40 billion, a price-to-earnings ratio of -16.40, a price-to-earnings-growth ratio of 15.62 and a beta of 0.44. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $61.08. 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 (NYSE:BMY – Get Free Report) last announced its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported $1.80 EPS for the quarter, beating the consensus estimate of $1.49 by $0.31. The business had revenue of $11.89 billion during the quarter, compared to analysts’ expectations 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 business’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same period in the previous year, the business posted $2.00 EPS. Sell-side analysts anticipate that Bristol-Myers Squibb will post 0.93 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 4th were given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 4.08%. The ex-dividend date was Friday, October 4th. Bristol-Myers Squibb’s dividend payout ratio is currently -66.85%.

Insider Buying and Selling at Bristol-Myers Squibb

In other 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 of the company’s stock, valued at $654,091.20. This trade represents a 5.62 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Samit Hirawat bought 1,830 shares of the firm’s stock in a transaction that occurred 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 purchase, the executive vice president now owns 62,109 shares in the company, 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. Company insiders own 0.09% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on BMY. Citigroup lifted their target price on Bristol-Myers Squibb from $55.00 to $60.00 and gave the company a “neutral” rating in a research note on Tuesday, November 12th. UBS Group lifted their price objective on shares of Bristol-Myers Squibb from $50.00 to $54.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. TD Cowen increased their target price on shares of Bristol-Myers Squibb from $53.00 to $59.00 and gave the company a “hold” rating in a research report on Monday, October 7th. Barclays raised their target price on shares of Bristol-Myers Squibb from $42.00 to $43.00 and gave the company an “underweight” rating in a research note on Monday, October 7th. Finally, Morgan Stanley upped their price target 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. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, two have assigned a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $54.07.

View Our Latest Report on BMY

About Bristol-Myers Squibb

(Free Report)

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.

Further Reading

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