Eudaimonia Advisors LLC Sells 389 Shares of Bristol-Myers Squibb (NYSE:BMY)

by · The Cerbat Gem

Eudaimonia Advisors LLC cut its holdings in Bristol-Myers Squibb (NYSE:BMY – Free Report) by 7.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,811 shares of the biopharmaceutical company’s stock after selling 389 shares during the period. Eudaimonia Advisors LLC’s holdings in Bristol-Myers Squibb were worth $279,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in BMY. Northwest Capital Management Inc acquired a new stake in Bristol-Myers Squibb in the second quarter worth $26,000. True Wealth Design LLC acquired a new stake in shares of Bristol-Myers Squibb in the 4th quarter valued at about $26,000. Coppell Advisory Solutions LLC bought a new position in Bristol-Myers Squibb in the second quarter worth approximately $28,000. Coppell Advisory Solutions Corp. bought a new position in shares of Bristol-Myers Squibb in the 4th quarter worth $31,000. Finally, Live Oak Investment Partners acquired a new stake in Bristol-Myers Squibb in the 4th quarter valued at $33,000. 74.98% of the stock is owned by institutional investors.

Insiders Place Their Bets

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 shares were bought at an average price of $49.78 per share, with a total value of $99,560.00. Following the acquisition, the chief executive officer now owns 82,672 shares in the company, valued at $4,115,412.16. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Theodore R. Samuels II bought 8,500 shares of the business’s stock in a transaction dated Monday, November 20th. The shares were purchased at an average price of $49.81 per share, for a total transaction of $423,385.00. Following the completion of the acquisition, the director now owns 35,500 shares of the company’s stock, valued at $1,768,255. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Christopher S. Boerner acquired 2,000 shares of the company’s stock in a transaction on Tuesday, December 5th. The stock was acquired at an average price of $49.78 per share, with a total value of $99,560.00. Following the acquisition, the chief executive officer now owns 82,672 shares in the company, valued at approximately $4,115,412.16. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 13,571 shares of company stock valued at $672,994. 0.08% of the stock is currently owned by corporate insiders.

Bristol-Myers Squibb Price Performance

NYSE:BMY traded down $0.36 during mid-day trading on Wednesday, hitting $52.40. 5,868,315 shares of the stock traded hands, compared to its average volume of 11,423,363. The business’s 50-day moving average price is $50.98 and its 200 day moving average price is $57.39. The company has a market cap of $106.62 billion, a PE ratio of 13.25, a price-to-earnings-growth ratio of 2.22 and a beta of 0.35. Bristol-Myers Squibb has a 12-month low of $48.25 and a 12-month high of $75.18. The company has a quick ratio of 1.07, a current ratio of 1.18 and a debt-to-equity ratio of 1.11.

Bristol-Myers Squibb (NYSE:BMY – Get Free Report) last issued its quarterly earnings results on Thursday, October 26th. The biopharmaceutical company reported $2.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.76 by $0.24. The firm had revenue of $10.97 billion during the quarter, compared to the consensus estimate of $10.96 billion. Bristol-Myers Squibb had a return on equity of 51.59% and a net margin of 18.44%. The company’s revenue for the quarter was down 2.2% on a year-over-year basis. During the same quarter last year, the company posted $1.99 EPS. On average, analysts expect that Bristol-Myers Squibb will post 7.53 EPS for the current fiscal year.

Bristol-Myers Squibb announced that its board has authorized a stock repurchase program on Thursday, December 7th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the biopharmaceutical company to reacquire up to 2.9% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

Bristol-Myers Squibb Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 1st. Shareholders of record on Friday, January 5th will be given a dividend of $0.60 per share. This is a boost from Bristol-Myers Squibb’s previous quarterly dividend of $0.57. This represents a $2.40 dividend on an annualized basis and a yield of 4.58%. The ex-dividend date is Thursday, January 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently 57.87%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on BMY. Bank of America lowered Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and dropped their target price for the company from $68.00 to $60.00 in a report on Wednesday. BMO Capital Markets lowered shares of Bristol-Myers Squibb from an “outperform” rating to a “market perform” rating and set a $60.00 price objective for the company. in a research note on Friday, October 27th. William Blair lowered shares of Bristol-Myers Squibb from an “outperform” rating to a “market perform” rating in a research note on Friday, October 27th. Morgan Stanley decreased their price objective on shares of Bristol-Myers Squibb from $56.00 to $50.00 and set an “underweight” rating for the company in a research note on Friday, October 27th. Finally, HSBC upgraded shares of Bristol-Myers Squibb from a “reduce” rating to a “hold” rating and decreased their price objective for the company from $55.00 to $53.00 in a research note on Friday, October 27th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $62.41.

Check Out Our Latest Stock Analysis on Bristol-Myers Squibb

About Bristol-Myers Squibb

(Free Report)

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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