EverSource Wealth Advisors LLC grew its holdings in Bristol-Myers Squibb (NYSE:BMY – Free Report) by 23.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,615 shares of the biopharmaceutical company’s stock after purchasing an additional 881 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Bristol-Myers Squibb were worth $268,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors also recently made changes to their positions in the company. True Wealth Design LLC acquired a new position in Bristol-Myers Squibb during the 4th quarter worth approximately $26,000. Northwest Capital Management Inc acquired a new position in Bristol-Myers Squibb during the 2nd quarter worth approximately $26,000. Coppell Advisory Solutions Corp. acquired a new position in Bristol-Myers Squibb during the 4th quarter worth approximately $31,000. Coppell Advisory Solutions LLC acquired a new position in Bristol-Myers Squibb during the 2nd quarter worth approximately $28,000. Finally, Live Oak Investment Partners acquired a new position in Bristol-Myers Squibb during the 4th quarter worth approximately $33,000. 74.98% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling at Bristol-Myers Squibb
In other news, Director Theodore R. Samuels II bought 8,500 shares of the stock in a transaction on Monday, November 20th. The shares were purchased at an average cost of $49.81 per share, for a total transaction of $423,385.00. Following the completion of the purchase, the director now directly owns 35,500 shares in the company, valued at approximately $1,768,255. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Bristol-Myers Squibb news, CEO Christopher S. Boerner bought 2,000 shares of Bristol-Myers Squibb stock in a transaction that occurred on Tuesday, December 5th. The stock was acquired at an average cost of $49.78 per share, for a total transaction of $99,560.00. Following the completion of the transaction, the chief executive officer now directly owns 82,672 shares in the company, valued at $4,115,412.16. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Theodore R. Samuels II bought 8,500 shares of Bristol-Myers Squibb stock in a transaction that occurred on Monday, November 20th. The shares were acquired at an average price of $49.81 per share, with a total value of $423,385.00. Following the completion of the transaction, the director now owns 35,500 shares of the company’s stock, valued at $1,768,255. The disclosure for this purchase can be found here. Insiders have bought a total of 13,571 shares of company stock worth $672,994 over the last ninety days. 0.09% of the stock is currently owned by company insiders.
Bristol-Myers Squibb Stock Performance
Bristol-Myers Squibb (NYSE:BMY – Get Free Report) last issued its earnings results on Thursday, October 26th. The biopharmaceutical company reported $2.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.76 by $0.24. The firm had revenue of $10.97 billion for the quarter, compared to analyst estimates of $10.96 billion. Bristol-Myers Squibb had a return on equity of 51.59% and a net margin of 18.44%. The business’s revenue was down 2.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.99 earnings per share. On average, sell-side analysts expect that Bristol-Myers Squibb will post 7.5 earnings per share for the current year.
Bristol-Myers Squibb declared that its board has approved a stock buyback program on Thursday, December 7th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the biopharmaceutical company to purchase up to 2.9% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.
Bristol-Myers Squibb Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, February 1st. Shareholders of record on Friday, January 5th will be paid a $0.60 dividend. The ex-dividend date of this dividend is Thursday, January 4th. This is a positive change from Bristol-Myers Squibb’s previous quarterly dividend of $0.57. This represents a $2.40 annualized dividend and a dividend yield of 4.83%. Bristol-Myers Squibb’s payout ratio is presently 60.91%.
Analyst Upgrades and Downgrades
BMY has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft initiated coverage on Bristol-Myers Squibb in a research note on Thursday, November 9th. They set a “hold” rating and a $55.00 price target on the stock. Morgan Stanley dropped their price target on Bristol-Myers Squibb from $56.00 to $50.00 and set an “underweight” rating on the stock in a research note on Friday, October 27th. William Blair lowered Bristol-Myers Squibb from an “outperform” rating to a “market perform” rating in a report on Friday, October 27th. BMO Capital Markets lowered Bristol-Myers Squibb from an “outperform” rating to a “market perform” rating and set a $60.00 price objective for the company. in a report on Friday, October 27th. Finally, Truist Financial reissued a “buy” rating and set a $84.00 price objective on shares of Bristol-Myers Squibb in a report on Friday, October 6th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $62.41.
Bristol-Myers Squibb Company 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, an oral inhibitor for reduction in risk of stroke/systemic embolism in NVAF, and for the treatment of DVT/PE; Opdivo for anti-cancer indications; Pomalyst/Imnovid indicated for patients with multiple myeloma; Orencia for adult patients with active RA and psoriatic arthritis; and Sprycel for the treatment of Philadelphia chromosome-positive chronic myeloid leukemia.
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