Bristol-Myers Squibb (NYSE:BMY) Stake Trimmed by Scott & Selber Inc.

by · The Cerbat Gem

Scott & Selber Inc. lowered its stake in shares of Bristol-Myers Squibb (NYSE:BMY – Free Report) by 0.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 91,358 shares of the biopharmaceutical company’s stock after selling 872 shares during the period. Bristol-Myers Squibb accounts for 2.2% of Scott & Selber Inc.’s investment portfolio, making the stock its 7th biggest holding. Scott & Selber Inc.’s holdings in Bristol-Myers Squibb were worth $5,302,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. True Wealth Design LLC purchased a new position in shares of Bristol-Myers Squibb in the fourth quarter worth about $26,000. Northwest Capital Management Inc purchased a new position in Bristol-Myers Squibb during the 2nd quarter valued at about $26,000. Coppell Advisory Solutions Corp. bought a new stake in shares of Bristol-Myers Squibb during the fourth quarter valued at about $31,000. Coppell Advisory Solutions LLC purchased a new stake in shares of Bristol-Myers Squibb in the second quarter worth about $28,000. Finally, Live Oak Investment Partners bought a new position in shares of Bristol-Myers Squibb in the fourth quarter valued at approximately $33,000. Institutional investors own 74.98% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Cantor Fitzgerald downgraded shares of Bristol-Myers Squibb from an “overweight” rating to a “neutral” rating and cut their price target for the company from $68.00 to $55.00 in a report on Wednesday, November 15th. Bank of America lowered shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $68.00 to $60.00 in a report on Wednesday. Daiwa Capital Markets lowered shares of Bristol-Myers Squibb from an “outperform” rating to a “neutral” rating and cut their target price for the stock from $68.00 to $54.00 in a research report on Thursday, November 2nd. UBS Group reissued a “neutral” rating and issued a $60.00 target price (down previously from $70.00) on shares of Bristol-Myers Squibb in a research note on Friday, October 20th. Finally, The Goldman Sachs Group dropped their price target on Bristol-Myers Squibb from $81.00 to $69.00 and set a “buy” rating for the company in a research note on Monday, October 30th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Bristol-Myers Squibb has a consensus rating of “Hold” and a consensus price target of $62.41.

View Our Latest Stock Report on Bristol-Myers Squibb

Insider Activity

In other Bristol-Myers Squibb news, Director Theodore R. Samuels II purchased 8,500 shares of the stock in a transaction that occurred on Monday, November 20th. The stock was bought at an average cost of $49.81 per share, with a total value of $423,385.00. Following the transaction, the director now directly owns 35,500 shares in the company, valued at approximately $1,768,255. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Christopher S. Boerner acquired 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 5th. The shares were bought at an average cost of $49.78 per share, with a total value of $99,560.00. Following the transaction, the chief executive officer now owns 82,672 shares of the company’s stock, valued at approximately $4,115,412.16. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Theodore R. Samuels II bought 8,500 shares of the firm’s stock in a transaction on Monday, November 20th. The stock was purchased at an average cost of $49.81 per share, with a total value of $423,385.00. Following the completion of the acquisition, the director now directly owns 35,500 shares of the company’s stock, valued at approximately $1,768,255. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 13,571 shares of company stock worth $672,994. Corporate insiders own 0.09% of the company’s stock.

Bristol-Myers Squibb Trading Down 0.9 %

Shares of BMY opened at $52.30 on Thursday. The stock has a market capitalization of $106.41 billion, a P/E ratio of 13.27, a PEG ratio of 2.28 and a beta of 0.35. Bristol-Myers Squibb has a twelve month low of $48.25 and a twelve 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. The firm has a fifty day simple moving average of $50.89 and a two-hundred day simple moving average of $57.35.

Bristol-Myers Squibb (NYSE:BMY – Get Free Report) last announced its earnings results on Thursday, October 26th. The biopharmaceutical company reported $2.00 EPS for the quarter, beating analysts’ consensus estimates of $1.76 by $0.24. The company 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 firm’s revenue for the quarter was down 2.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.99 earnings per share. On average, research analysts anticipate that Bristol-Myers Squibb will post 7.53 EPS for the current year.

Bristol-Myers Squibb Increases Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend is Thursday, January 4th. This represents a $2.40 annualized dividend and a yield of 4.59%. This is a positive change from Bristol-Myers Squibb’s previous quarterly dividend of $0.57. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently 57.87%.

Bristol-Myers Squibb announced that its Board of Directors has approved a stock repurchase plan on Thursday, December 7th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the biopharmaceutical company to repurchase up to 2.9% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

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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