Sompo Asset Management Co. Ltd. Has $2.58 Million Position in Bristol-Myers Squibb (NYSE:BMY)

Sompo Asset Management Co. Ltd. increased its position in Bristol-Myers Squibb (NYSE:BMY) by 43.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 49,780 shares of the biopharmaceutical company’s stock after purchasing an additional 15,140 shares during the quarter. Sompo Asset Management Co. Ltd.’s holdings in Bristol-Myers Squibb were worth $2,576,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Meridian Management Co. boosted its position in shares of Bristol-Myers Squibb by 0.6% during the third quarter. Meridian Management Co. now owns 28,283 shares of the biopharmaceutical company’s stock valued at $1,463,000 after buying an additional 182 shares during the last quarter. Hollencrest Capital Management lifted its stake in Bristol-Myers Squibb by 61.3% during the 3rd quarter. Hollencrest Capital Management now owns 492 shares of the biopharmaceutical company’s stock valued at $25,000 after acquiring an additional 187 shares in the last quarter. Mayflower Financial Advisors LLC boosted its holdings in Bristol-Myers Squibb by 2.3% during the 3rd quarter. Mayflower Financial Advisors LLC now owns 8,466 shares of the biopharmaceutical company’s stock worth $438,000 after acquiring an additional 192 shares during the last quarter. Patriot Financial Group Insurance Agency LLC grew its stake in shares of Bristol-Myers Squibb by 3.8% in the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 5,595 shares of the biopharmaceutical company’s stock worth $289,000 after acquiring an additional 206 shares in the last quarter. Finally, Legacy Wealth Asset Management LLC lifted its position in shares of Bristol-Myers Squibb by 2.1% during the third quarter. Legacy Wealth Asset Management LLC now owns 10,288 shares of the biopharmaceutical company’s stock valued at $532,000 after purchasing an additional 215 shares in the last quarter. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, SVP Phil M. Holzer sold 700 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $55.62, for a total value 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Samit Hirawat purchased 1,830 shares of the business’s stock in a transaction on Friday, November 1st. The stock was bought at an average cost of $54.67 per share, with a total value of $100,046.10. Following the purchase, the executive vice president now owns 62,109 shares in the company, 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. 0.09% of the stock is currently owned by company insiders.

Bristol-Myers Squibb Stock Performance

Shares of BMY opened at $58.87 on Friday. Bristol-Myers Squibb has a 52-week low of $39.35 and a 52-week high of $61.08. The stock’s 50-day simple moving average is $53.66 and its 200 day simple moving average is $47.74. The company has a debt-to-equity ratio of 2.83, a quick ratio of 1.09 and a current ratio of 1.24. The stock has a market capitalization of $119.40 billion, a price-to-earnings ratio of -16.40, a price-to-earnings-growth ratio of 15.62 and a beta of 0.44.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.49 by $0.31. The firm had revenue of $11.89 billion for the quarter, compared to the consensus estimate of $11.26 billion. Bristol-Myers Squibb had a negative net margin of 15.30% and a positive return on equity of 11.94%. The company’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same period in the prior year, the firm posted $2.00 earnings per share. Research analysts forecast that Bristol-Myers Squibb will post 0.93 EPS for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 4th were issued a $0.60 dividend. The ex-dividend date was Friday, October 4th. This represents a $2.40 annualized dividend and a dividend yield of 4.08%. Bristol-Myers Squibb’s payout ratio is currently -66.85%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on BMY shares. Wolfe Research started coverage on shares of Bristol-Myers Squibb in a research report on Friday, November 15th. They issued a “peer perform” rating for the company. Leerink Partnrs upgraded Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 12th. Citigroup upped their price objective on Bristol-Myers Squibb from $55.00 to $60.00 and gave the company a “neutral” rating in a research note on Tuesday, November 12th. Jefferies Financial Group lifted their target price on Bristol-Myers Squibb from $49.00 to $51.00 and gave the stock a “hold” rating in a research note on Wednesday, August 28th. Finally, BMO Capital Markets increased their price target on shares of Bristol-Myers Squibb from $57.00 to $61.00 and gave the company a “market perform” rating in a research report on Tuesday, November 12th. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, two have issued a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $54.07.

Bristol-Myers Squibb 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.