Intact Investment Management Inc. Increases Position in Bristol-Myers Squibb (NYSE:BMY)

Intact Investment Management Inc. boosted its holdings in Bristol-Myers Squibb (NYSE:BMY) by 7.1% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 304,400 shares of the biopharmaceutical company’s stock after purchasing an additional 20,200 shares during the quarter. Intact Investment Management Inc.’s holdings in Bristol-Myers Squibb were worth $15,750,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Norden Group LLC lifted its stake in shares of Bristol-Myers Squibb by 30.2% in the first quarter. Norden Group LLC now owns 13,846 shares of the biopharmaceutical company’s stock worth $751,000 after buying an additional 3,213 shares in the last quarter. Lincoln National Corp lifted its stake in shares of Bristol-Myers Squibb by 7.7% in the first quarter. Lincoln National Corp now owns 42,894 shares of the biopharmaceutical company’s stock worth $2,326,000 after buying an additional 3,052 shares in the last quarter. Salomon & Ludwin LLC lifted its stake in shares of Bristol-Myers Squibb by 26.1% in the first quarter. Salomon & Ludwin LLC now owns 2,530 shares of the biopharmaceutical company’s stock worth $137,000 after buying an additional 523 shares in the last quarter. Whittier Trust Co. lifted its stake in shares of Bristol-Myers Squibb by 28.0% in the first quarter. Whittier Trust Co. now owns 88,597 shares of the biopharmaceutical company’s stock worth $4,804,000 after buying an additional 19,382 shares in the last quarter. Finally, Smith Salley Wealth Management lifted its stake in shares of Bristol-Myers Squibb by 100.1% in the first quarter. Smith Salley Wealth Management now owns 15,347 shares of the biopharmaceutical company’s stock worth $832,000 after buying an additional 7,676 shares in the last quarter. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. TD Cowen upped their target price on shares of Bristol-Myers Squibb from $53.00 to $59.00 and gave the stock a “hold” rating in a research note on Monday, October 7th. Barclays increased their price objective on shares of Bristol-Myers Squibb from $42.00 to $43.00 and gave the company an “underweight” rating in a research report on Monday, October 7th. StockNews.com upgraded shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 29th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating on the stock in a research report on Tuesday, July 23rd. Finally, Citigroup downgraded shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $75.00 to $55.00 in a research report on Friday, October 25th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $53.00.

Bristol-Myers Squibb Stock Down 2.6 %

BMY opened at $54.32 on Monday. The firm’s 50 day simple moving average is $51.26 and its two-hundred day simple moving average is $46.56. The company has a current ratio of 1.16, a quick ratio of 1.02 and a debt-to-equity ratio of 2.86. The company has a market capitalization of $110.13 billion, a PE ratio of -15.13, a PEG ratio of 15.49 and a beta of 0.44. Bristol-Myers Squibb has a 1-year low of $39.35 and a 1-year high of $56.20.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data 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. The firm 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 11.40%. The company’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period in the prior year, the company posted $2.00 earnings per share. As a group, equities analysts forecast that Bristol-Myers Squibb will post 0.72 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 4th were paid a dividend of $0.60 per share. The ex-dividend date was Friday, October 4th. This represents a $2.40 annualized dividend and a yield of 4.42%. Bristol-Myers Squibb’s payout ratio is -66.85%.

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.