Bristol Myers Squibb Company $BMY Position Lifted by Lido Advisors LLC

Lido Advisors LLC raised its stake in shares of Bristol Myers Squibb Company (NYSE:BMY) by 20.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 145,914 shares of the biopharmaceutical company’s stock after purchasing an additional 25,193 shares during the quarter. Lido Advisors LLC’s holdings in Bristol Myers Squibb were worth $9,105,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the stock. BlackRock Inc. boosted its stake in Bristol Myers Squibb by 5.1% in the 2nd quarter. BlackRock Inc. now owns 180,384,994 shares of the biopharmaceutical company’s stock valued at $10,393,783,000 after buying an additional 8,702,106 shares in the last quarter. State Street Corp grew its position in Bristol Myers Squibb by 7.3% in the second quarter. State Street Corp now owns 105,757,638 shares of the biopharmaceutical company’s stock valued at $6,093,755,000 after acquiring an additional 7,192,724 shares during the period. Primecap Management Co. CA acquired a new position in Bristol Myers Squibb during the second quarter worth $1,436,115,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Bristol Myers Squibb by 0.5% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 22,839,010 shares of the biopharmaceutical company’s stock worth $1,315,984,000 after acquiring an additional 119,690 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Bristol Myers Squibb by 2.9% during the first quarter. Dimensional Fund Advisors LP now owns 18,762,589 shares of the biopharmaceutical company’s stock valued at $1,137,847,000 after acquiring an additional 520,330 shares during the period. 76.41% of the stock is currently owned by institutional investors.

Bristol Myers Squibb Trading Down 0.8%

Shares of BMY opened at $62.42 on Friday. The company has a debt-to-equity ratio of 1.79, a quick ratio of 1.44 and a current ratio of 1.59. The company has a market cap of $127.58 billion, a price-to-earnings ratio of 13.84, a PEG ratio of 0.32 and a beta of 0.20. The stock has a fifty day moving average price of $61.99 and a two-hundred day moving average price of $60.27. Bristol Myers Squibb Company has a 52-week low of $45.26 and a 52-week high of $68.64.

Bristol Myers Squibb (NYSE:BMY) last announced its earnings results on Thursday, October 29th. The biopharmaceutical company reported $1.35 EPS for the quarter, topping the consensus estimate of $1.10 by $0.25. Bristol Myers Squibb had a return on equity of 60.48% and a net margin of 18.47%. The company had revenue of $13.07 billion for the quarter, compared to analysts’ expectations of $12.72 billion. During the same quarter in the prior year, the business earned $1.63 earnings per share. The business’s revenue for the quarter was up 6.9% on a year-over-year basis. Analysts predict that Bristol Myers Squibb Company will post 6.46 EPS for the current fiscal year.

Bristol Myers Squibb Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, November 2nd. Investors of record on Friday, October 2nd were given a dividend of $0.63 per share. The ex-dividend date was Friday, October 2nd. This represents a $2.52 annualized dividend and a yield of 4.0%. Bristol Myers Squibb’s dividend payout ratio is 55.88%.

Bristol Myers Squibb News Roundup

Investors following BMY have been watching these news items:

• Positive Sentiment: Some analysts and commentators consider BMY attractively valued, citing roughly 10 times forward earnings and a view that shares remain below fair value despite a strong multi-year run. That could support investor interest if the company delivers on its cash-flow and pipeline prospects. Our Bristol Myers Squibb Stock Pick Is Up 35%. It’s Still a Good Bet in Healthcare. Bristol Myers Squibb Stock Looks Below Fair Value Following A 41% Run
• Neutral Sentiment: Bristol Myers plans to bring its scientific and clinical teams together in a unified R&D organization, aiming to accelerate development and make better use of new technologies. Research chief Robert Plenge is leaving as part of the change. The strategy could improve productivity, but the leadership transition and results of the restructuring remain uncertain. Bristol Myers to merge scientific, clinical teams under new R&D structure Bristol Myers research chief to depart in evolution of company’s structure
• Negative Sentiment: Drug-price negotiations are a potential longer-term headwind for BMY, with the article describing the company as facing a bigger test in the years ahead. The risk is not presented as an immediate revenue hit, but could weigh on future pricing and growth expectations. Drug pricing risks for pharmaceutical companies

Insider Transactions at Bristol Myers Squibb

In other Bristol Myers Squibb news, SVP Phil M. Holzer sold 500 shares of the business’s stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $67.50, for a total value of $33,750.00. Following the completion of the transaction, the senior vice president directly owned 16,862 shares of the company’s stock, valued at approximately $1,138,185. The trade was a 2.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Julia A. Haller sold 3,800 shares of the company’s stock in a transaction that occurred on Thursday, November 5th. The stock was sold at an average price of $63.31, for a total transaction of $240,578.00. Following the transaction, the director owned 30,279 shares in the company, valued at $1,916,963.49. The trade was a 11.15% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.05% of the stock is owned by corporate insiders.

Analyst Ratings Changes

BMY has been the topic of several analyst reports. Jefferies Financial Group reaffirmed a “buy” rating and issued a $76.00 target price on shares of Bristol Myers Squibb in a report on Monday, October 12th. TD Cowen started coverage on shares of Bristol Myers Squibb in a report on Wednesday, August 5th. They set a “buy” rating for the company. Guggenheim restated a “buy” rating and issued a $75.00 price target (up from $72.00) on shares of Bristol Myers Squibb in a research report on Friday, July 31st. BMO Capital Markets reaffirmed a “market perform” rating on shares of Bristol Myers Squibb in a research note on Monday, July 27th. Finally, Weiss Ratings raised shares of Bristol Myers Squibb from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, August 18th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, sixteen have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $65.46.

Bristol Myers Squibb Company Profile

Bristol Myers Squibb is a global biopharmaceutical company that discovers, develops, manufactures and markets medicines. Its research and commercial activities focus on serious diseases, particularly cancer, blood disorders, immune-mediated conditions and cardiovascular disease. The company’s medicines include Opdivo and Yervoy for cancer, Eliquis for preventing and treating blood clots, and Orencia for certain autoimmune conditions. Its portfolio also includes treatments for hematologic diseases and other serious illnesses.