Wedge Capital Management L L P NC Purchases New Shares in Bristol-Myers Squibb Co (NYSE:BMY)

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Wedge Capital Management L L P NC purchased a new stake in shares of Bristol-Myers Squibb Co (NYSE:BMY) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 4,072 shares of the biopharmaceutical company’s stock, valued at approximately $206,000.

Other institutional investors have also added to or reduced their stakes in the company. Bath Savings Trust Co grew its position in Bristol-Myers Squibb by 3.4% during the second quarter. Bath Savings Trust Co now owns 17,108 shares of the biopharmaceutical company’s stock valued at $776,000 after buying an additional 568 shares during the period. Boltwood Capital Management grew its position in Bristol-Myers Squibb by 1.9% during the second quarter. Boltwood Capital Management now owns 21,626 shares of the biopharmaceutical company’s stock valued at $981,000 after buying an additional 400 shares during the period. Thomasville National Bank grew its position in Bristol-Myers Squibb by 1.6% during the second quarter. Thomasville National Bank now owns 18,605 shares of the biopharmaceutical company’s stock valued at $843,000 after buying an additional 293 shares during the period. Private Asset Management Inc. boosted its position in shares of Bristol-Myers Squibb by 5.5% in the second quarter. Private Asset Management Inc. now owns 129,289 shares of the biopharmaceutical company’s stock worth $5,863,000 after purchasing an additional 6,775 shares during the period. Finally, ELM Advisors LLC boosted its position in shares of Bristol-Myers Squibb by 5.7% in the second quarter. ELM Advisors LLC now owns 7,358 shares of the biopharmaceutical company’s stock worth $334,000 after purchasing an additional 400 shares during the period. 80.40% of the stock is currently owned by institutional investors.

Shares of NYSE:BMY traded up $0.44 during midday trading on Friday, reaching $58.02. 11,418,626 shares of the company were exchanged, compared to its average volume of 12,766,524. The company has a current ratio of 3.83, a quick ratio of 3.72 and a debt-to-equity ratio of 1.37. The business’s fifty day moving average is $52.90 and its two-hundred day moving average is $48.19. Bristol-Myers Squibb Co has a one year low of $42.48 and a one year high of $58.46. The stock has a market cap of $91.88 billion, a PE ratio of 14.58, a price-to-earnings-growth ratio of 1.31 and a beta of 0.71.

Bristol-Myers Squibb (NYSE:BMY) last issued its earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.17 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.06 by $0.11. Bristol-Myers Squibb had a net margin of 23.53% and a return on equity of 45.49%. The firm had revenue of $6.01 billion during the quarter, compared to analyst estimates of $5.89 billion. During the same quarter in the prior year, the business earned $1.09 earnings per share. Bristol-Myers Squibb’s revenue for the quarter was up 5.6% on a year-over-year basis. As a group, sell-side analysts expect that Bristol-Myers Squibb Co will post 4.33 EPS for the current year.

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 $0.41 per share. The ex-dividend date was Thursday, October 3rd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.83%. Bristol-Myers Squibb’s dividend payout ratio is 41.21%.

In related news, insider Louis S. Schmukler sold 25,000 shares of the company’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $56.56, for a total transaction of $1,414,000.00. Following the completion of the transaction, the insider now owns 31,963 shares in the company, valued at $1,807,827.28. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP John E. Elicker sold 15,000 shares of the company’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $56.66, for a total transaction of $849,900.00. Following the transaction, the senior vice president now owns 74,471 shares of the company’s stock, valued at approximately $4,219,526.86. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by corporate insiders.

A number of research firms have weighed in on BMY. Atlantic Securities upgraded shares of Bristol-Myers Squibb from a “neutral” rating to an “overweight” rating and set a $63.00 price target for the company in a research report on Wednesday, August 14th. ValuEngine lowered shares of Bristol-Myers Squibb from a “sell” rating to a “strong sell” rating in a research report on Friday, October 25th. Wolfe Research set a $66.00 price target on shares of Bristol-Myers Squibb and gave the stock a “buy” rating in a research report on Friday, November 1st. UBS Group upped their price target on shares of Bristol-Myers Squibb from $51.00 to $53.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Finally, Peel Hunt reiterated a “buy” rating on shares of Bristol-Myers Squibb in a research report on Tuesday, October 29th. One analyst has rated the stock with a sell rating, five have given a hold rating and eleven have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $56.64.

Bristol-Myers Squibb Profile

Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. The company offers drugs in oncology, immunoscience, cardiovascular, and fibrotic diseases. The company's products include Opdivo, a biological product for anti-cancer indications; Eliquis, an oral inhibitor targeted at stroke prevention in adult patients with non-valvular atrial fibrillation, and the prevention and treatment of venous thromboembolic disorders; and Orencia, a biological product for adult patients with moderately to severely active RA and prostate-specific antigen, as well as reducing signs and symptoms in certain pediatric patients with moderately to severely active polyarticular juvenile idiopathic arthritis.

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Institutional Ownership by Quarter for Bristol-Myers Squibb (NYSE:BMY)

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