Bristol-Myers Squibb (NYSE:BMY) Shares Sold by MetLife Investment Management LLC

MetLife Investment Management LLC lessened its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 2.5% during the third quarter, HoldingsChannel reports. The institutional investor owned 527,202 shares of the biopharmaceutical company’s stock after selling 13,518 shares during the quarter. MetLife Investment Management LLC’s holdings in Bristol-Myers Squibb were worth $27,277,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its stake in Bristol-Myers Squibb by 3.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 61,030,403 shares of the biopharmaceutical company’s stock valued at $3,157,713,000 after acquiring an additional 1,968,729 shares during the period. FMR LLC grew its holdings in Bristol-Myers Squibb by 10.5% in the 3rd quarter. FMR LLC now owns 44,940,609 shares of the biopharmaceutical company’s stock worth $2,325,227,000 after buying an additional 4,275,787 shares in the last quarter. Primecap Management Co. CA raised its stake in Bristol-Myers Squibb by 1.0% during the 2nd quarter. Primecap Management Co. CA now owns 23,498,604 shares of the biopharmaceutical company’s stock valued at $975,897,000 after acquiring an additional 225,197 shares in the last quarter. Legal & General Group Plc boosted its position in Bristol-Myers Squibb by 3.8% during the 2nd quarter. Legal & General Group Plc now owns 20,225,040 shares of the biopharmaceutical company’s stock worth $839,946,000 after acquiring an additional 735,613 shares during the period. Finally, Independent Franchise Partners LLP grew its stake in shares of Bristol-Myers Squibb by 4.0% in the second quarter. Independent Franchise Partners LLP now owns 14,600,621 shares of the biopharmaceutical company’s stock worth $606,364,000 after purchasing an additional 556,295 shares in the last quarter. 76.41% of the stock is currently owned by institutional investors.

Bristol-Myers Squibb Stock Performance

Bristol-Myers Squibb stock traded up $0.39 on Wednesday, reaching $59.13. 228,049 shares of the stock were exchanged, compared to its average volume of 14,271,050. The firm has a fifty day moving average price of $54.02 and a two-hundred day moving average price of $47.97. Bristol-Myers Squibb has a twelve month low of $39.35 and a twelve month 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) 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. The firm had revenue of $11.89 billion during the quarter, compared to the consensus estimate of $11.26 billion. Bristol-Myers Squibb had a positive return on equity of 11.94% and a negative net margin of 15.30%. The firm’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.00 EPS. As a group, analysts expect that Bristol-Myers Squibb will post 0.93 earnings per share for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 4th were given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 4.06%. The ex-dividend date was Friday, October 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently -66.85%.

Insider Buying and Selling at Bristol-Myers Squibb

In other Bristol-Myers Squibb news, SVP Phil M. Holzer sold 700 shares of Bristol-Myers Squibb stock in a transaction 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 in the company, valued at $654,091.20. The trade was a 5.62 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Samit Hirawat purchased 1,830 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was acquired at an average cost of $54.67 per share, with a total value of $100,046.10. Following the transaction, the executive vice president now directly owns 62,109 shares of the company’s stock, valued at approximately $3,395,499.03. This represents a 3.04 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.09% of the company’s stock.

Wall Street Analyst Weigh In

BMY has been the topic of a number of recent analyst reports. Citigroup boosted their price target on shares of Bristol-Myers Squibb from $55.00 to $60.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 12th. Leerink Partners upgraded Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $55.00 to $73.00 in a research report on Tuesday, November 12th. UBS Group lifted their price target on Bristol-Myers Squibb from $50.00 to $54.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. Cantor Fitzgerald restated a “neutral” rating and issued a $50.00 price objective on shares of Bristol-Myers Squibb in a report on Friday, October 18th. Finally, Leerink Partnrs upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 12th. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating, two have given a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, Bristol-Myers Squibb currently has an average rating of “Hold” and a consensus price target of $54.07.

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 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.