Buffington Mohr McNeal Purchases New Stake in Bristol-Myers Squibb (NYSE:BMY)

Buffington Mohr McNeal acquired a new position in Bristol-Myers Squibb (NYSE:BMY) during the 4th quarter, HoldingsChannel reports. The fund acquired 4,234 shares of the biopharmaceutical company’s stock, valued at approximately $239,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Meridian Management Co. lifted its stake in Bristol-Myers Squibb by 0.6% in the third quarter. Meridian Management Co. now owns 28,283 shares of the biopharmaceutical company’s stock valued at $1,463,000 after purchasing an additional 182 shares during the last quarter. Drive Wealth Management LLC lifted its position in shares of Bristol-Myers Squibb by 2.1% during the 4th quarter. Drive Wealth Management LLC now owns 8,878 shares of the biopharmaceutical company’s stock valued at $502,000 after buying an additional 182 shares during the last quarter. Hollencrest Capital Management increased its holdings in Bristol-Myers Squibb by 61.3% in the 3rd quarter. Hollencrest Capital Management now owns 492 shares of the biopharmaceutical company’s stock worth $25,000 after acquiring an additional 187 shares during the last quarter. Dunhill Financial LLC raised its stake in Bristol-Myers Squibb by 39.8% in the 3rd quarter. Dunhill Financial LLC now owns 664 shares of the biopharmaceutical company’s stock valued at $34,000 after acquiring an additional 189 shares during the period. Finally, Mayflower Financial Advisors LLC boosted its position in Bristol-Myers Squibb by 2.3% during the third quarter. Mayflower Financial Advisors LLC now owns 8,466 shares of the biopharmaceutical company’s stock worth $438,000 after purchasing an additional 192 shares during the period. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on BMY shares. Sanford C. Bernstein began coverage on Bristol-Myers Squibb in a research report on Thursday, October 17th. They set a “market perform” rating and a $56.00 target price on the stock. Citigroup boosted their price target on shares of Bristol-Myers Squibb from $55.00 to $60.00 and gave the company a “neutral” rating in a research report on Tuesday, November 12th. Jefferies Financial Group raised Bristol-Myers Squibb from a “hold” rating to a “buy” rating and lifted their price objective for the company from $63.00 to $70.00 in a research note on Monday, December 16th. Morgan Stanley lifted their price target on shares of Bristol-Myers Squibb from $36.00 to $39.00 and gave the stock an “underweight” rating in a research note on Tuesday, November 12th. Finally, Daiwa America raised shares of Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 13th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, four have issued a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $56.27.

Bristol-Myers Squibb Stock Performance

Shares of Bristol-Myers Squibb stock opened at $60.61 on Tuesday. The business has a fifty day simple moving average of $57.47 and a two-hundred day simple moving average of $52.71. The firm has a market capitalization of $122.93 billion, a P/E ratio of -16.88, a P/E/G ratio of 2.02 and a beta of 0.45. The company has a current ratio of 1.24, a quick ratio of 1.09 and a debt-to-equity ratio of 2.83. Bristol-Myers Squibb has a 12 month low of $39.35 and a 12 month high of $61.10.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share for the quarter, topping the consensus estimate of $1.49 by $0.31. Bristol-Myers Squibb had a positive return on equity of 11.94% and a negative net margin of 15.30%. The company had revenue of $11.89 billion for the quarter, compared to the consensus estimate of $11.26 billion. During the same quarter in the prior year, the business posted $2.00 EPS. The firm’s quarterly revenue was up 8.4% compared to the same quarter last year. On average, equities analysts forecast that Bristol-Myers Squibb will post 0.92 earnings per share for the current fiscal year.

Bristol-Myers Squibb Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 3rd will be issued a $0.62 dividend. The ex-dividend date of this dividend is Friday, January 3rd. This is a boost from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. This represents a $2.48 annualized dividend and a yield of 4.09%. Bristol-Myers Squibb’s payout ratio is -69.08%.

Insider Transactions at Bristol-Myers Squibb

In related news, 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 transaction of $38,934.00. Following the sale, the senior vice president now directly owns 11,760 shares of the company’s stock, valued at $654,091.20. This trade represents a 5.62 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Samit Hirawat bought 1,830 shares of the 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 purchase, the executive vice president now directly owns 62,109 shares in the company, valued at approximately $3,395,499.03. This trade represents a 3.04 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.09% of the company’s stock.

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.