SPC Financial Inc. Increases Stock Position in Bristol-Myers Squibb (NYSE:BMY)

SPC Financial Inc. increased its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 9.4% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 5,612 shares of the biopharmaceutical company’s stock after buying an additional 484 shares during the quarter. SPC Financial Inc.’s holdings in Bristol-Myers Squibb were worth $317,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in BMY. Wealthspire Advisors LLC raised its position in Bristol-Myers Squibb by 0.6% during the fourth quarter. Wealthspire Advisors LLC now owns 28,679 shares of the biopharmaceutical company’s stock worth $1,622,000 after acquiring an additional 170 shares during the period. Edmp Inc. raised its position in Bristol-Myers Squibb by 0.4% during the fourth quarter. Edmp Inc. now owns 41,599 shares of the biopharmaceutical company’s stock worth $2,353,000 after acquiring an additional 171 shares during the period. Trust Point Inc. raised its position in Bristol-Myers Squibb by 1.9% during the fourth quarter. Trust Point Inc. now owns 9,423 shares of the biopharmaceutical company’s stock worth $533,000 after acquiring an additional 172 shares during the period. Bedel Financial Consulting Inc. raised its position in Bristol-Myers Squibb by 3.2% during the fourth quarter. Bedel Financial Consulting Inc. now owns 5,690 shares of the biopharmaceutical company’s stock worth $340,000 after acquiring an additional 175 shares during the period. Finally, Horst & Graben Wealth Management LLC raised its position in Bristol-Myers Squibb by 2.4% during the fourth quarter. Horst & Graben Wealth Management LLC now owns 7,538 shares of the biopharmaceutical company’s stock worth $426,000 after acquiring an additional 179 shares during the period. 76.41% of the stock is owned by hedge funds and other institutional investors.

Bristol-Myers Squibb Price Performance

Bristol-Myers Squibb stock opened at $59.85 on Thursday. Bristol-Myers Squibb has a 12-month low of $39.35 and a 12-month high of $61.10. The stock has a market cap of $121.44 billion, a P/E ratio of -13.54, a PEG ratio of 2.07 and a beta of 0.45. The company has a 50-day moving average price of $57.28 and a 200 day moving average price of $54.97. The company has a current ratio of 1.25, a quick ratio of 1.15 and a debt-to-equity ratio of 2.90.

Bristol-Myers Squibb (NYSE:BMY) last announced its earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share for the quarter, topping the consensus estimate of $1.47 by $0.20. Bristol-Myers Squibb had a negative net margin of 18.53% and a positive return on equity of 13.93%. Sell-side analysts anticipate that Bristol-Myers Squibb will post 6.74 earnings per share for the current year.

Bristol-Myers Squibb Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Friday, April 4th will be paid a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 4.14%. The ex-dividend date of this dividend is Friday, April 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -56.11%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Daiwa America upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 13th. Citigroup upped their price objective on shares of Bristol-Myers Squibb from $60.00 to $65.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 28th. Leerink Partnrs upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 12th. Daiwa Capital Markets upgraded shares of Bristol-Myers Squibb from a “neutral” rating to an “outperform” rating in a research report on Wednesday, November 13th. Finally, 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. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, four have given a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, Bristol-Myers Squibb has an average rating of “Hold” and an average price target of $57.86.

Insiders Place Their Bets

In related news, EVP Samit Hirawat bought 1,823 shares of the stock in a transaction on Friday, February 14th. The stock was bought at an average price of $54.84 per share, with a total value of $99,973.32. Following the completion of the purchase, the executive vice president now directly owns 63,932 shares in the company, valued at $3,506,030.88. This represents a 2.94 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.09% of the stock is currently owned by insiders.

About Bristol-Myers Squibb

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.