Northcape Wealth Management LLC Reduces Position in Bristol-Myers Squibb (NYSE:BMY)

Northcape Wealth Management LLC reduced its position in Bristol-Myers Squibb (NYSE:BMY) by 9.6% in the 3rd quarter, Holdings Channel.com reports. The fund owned 6,077 shares of the biopharmaceutical company’s stock after selling 649 shares during the quarter. Northcape Wealth Management LLC’s holdings in Bristol-Myers Squibb were worth $314,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the business. Altrius Capital Management Inc grew its position in Bristol-Myers Squibb by 0.6% during the 3rd quarter. Altrius Capital Management Inc now owns 97,662 shares of the biopharmaceutical company’s stock worth $5,053,000 after purchasing an additional 620 shares during the last quarter. Valley Wealth Managers Inc. boosted its stake in shares of Bristol-Myers Squibb by 0.8% during the third quarter. Valley Wealth Managers Inc. now owns 70,755 shares of the biopharmaceutical company’s stock worth $3,661,000 after buying an additional 590 shares during the period. Archer Investment Corp grew its holdings in shares of Bristol-Myers Squibb by 1.6% during the third quarter. Archer Investment Corp now owns 25,313 shares of the biopharmaceutical company’s stock worth $1,310,000 after buying an additional 401 shares during the last quarter. Empirical Finance LLC increased its position in Bristol-Myers Squibb by 1.9% in the 3rd quarter. Empirical Finance LLC now owns 72,676 shares of the biopharmaceutical company’s stock valued at $3,760,000 after acquiring an additional 1,366 shares during the period. Finally, Signature Estate & Investment Advisors LLC raised its stake in Bristol-Myers Squibb by 18.6% during the 3rd quarter. Signature Estate & Investment Advisors LLC now owns 5,949 shares of the biopharmaceutical company’s stock valued at $308,000 after acquiring an additional 932 shares during the last quarter. 76.41% of the stock is owned by institutional investors and hedge funds.

Bristol-Myers Squibb Price Performance

BMY stock opened at $56.22 on Friday. 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 stock’s 50 day moving average price is $52.73 and its 200 day moving average price is $47.23. The firm has a market cap of $114.02 billion, a P/E ratio of -15.66, a PEG ratio of 15.83 and a beta of 0.44. Bristol-Myers Squibb has a 1 year low of $39.35 and a 1 year high of $61.08.

Bristol-Myers Squibb (NYSE:BMY) last announced its earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $11.89 billion during the quarter, compared to the consensus estimate of $11.26 billion. During the same quarter in the previous year, the company posted $2.00 EPS. The firm’s revenue for the quarter was up 8.4% on a year-over-year basis. On average, sell-side analysts expect that Bristol-Myers Squibb will post 0.92 earnings per share for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 4th were issued a $0.60 dividend. The ex-dividend date was Friday, October 4th. This represents a $2.40 annualized dividend and a yield of 4.27%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -66.85%.

Insiders Place Their Bets

In related news, EVP Samit Hirawat purchased 1,830 shares of the firm’s stock in a transaction on Friday, November 1st. The shares were bought at an average price of $54.67 per share, for a total transaction of $100,046.10. Following the acquisition, 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 ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, SVP Phil M. Holzer sold 700 shares of the stock in a transaction on Monday, November 4th. The stock was sold at an average price of $55.62, for a total value 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. This trade represents a 5.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.09% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on BMY shares. UBS Group upped their price target on Bristol-Myers Squibb from $50.00 to $54.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Daiwa Capital Markets upgraded shares of Bristol-Myers Squibb from a “neutral” rating to an “outperform” rating in a research note on Wednesday. Barclays increased their price target on shares of Bristol-Myers Squibb from $42.00 to $43.00 and gave the stock an “underweight” rating in a report on Monday, October 7th. Wolfe Research started coverage on Bristol-Myers Squibb in a report on Friday. They issued a “peer perform” rating on the stock. Finally, Jefferies Financial Group raised their price target on Bristol-Myers Squibb from $49.00 to $51.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, two have assigned a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $54.07.

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.