Harvest Fund Management Co. Ltd Purchases Shares of 2,569 Bristol-Myers Squibb (NYSE:BMY)

Harvest Fund Management Co. Ltd purchased a new position in shares of Bristol-Myers Squibb (NYSE:BMY) in the third quarter, Holdings Channel.com reports. The institutional investor purchased 2,569 shares of the biopharmaceutical company’s stock, valued at approximately $133,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in BMY. Daiwa Securities Group Inc. lifted its holdings in Bristol-Myers Squibb by 31.1% during the 3rd quarter. Daiwa Securities Group Inc. now owns 330,191 shares of the biopharmaceutical company’s stock valued at $17,084,000 after purchasing an additional 78,309 shares during the last quarter. Pekin Hardy Strauss Inc. lifted its stake in shares of Bristol-Myers Squibb by 13.9% during the 3rd quarter. Pekin Hardy Strauss Inc. now owns 29,552 shares of the biopharmaceutical company’s stock worth $1,529,000 after buying an additional 3,600 shares during the last quarter. Summit Trail Advisors LLC boosted its holdings in shares of Bristol-Myers Squibb by 1.8% during the 3rd quarter. Summit Trail Advisors LLC now owns 49,473 shares of the biopharmaceutical company’s stock worth $2,560,000 after buying an additional 894 shares during the period. SevenBridge Financial Group LLC boosted its holdings in shares of Bristol-Myers Squibb by 2.4% during the third quarter. SevenBridge Financial Group LLC now owns 46,991 shares of the biopharmaceutical company’s stock worth $2,431,000 after acquiring an additional 1,093 shares during the period. Finally, Centaurus Financial Inc. grew its position in shares of Bristol-Myers Squibb by 21.3% in the third quarter. Centaurus Financial Inc. now owns 10,919 shares of the biopharmaceutical company’s stock valued at $565,000 after purchasing an additional 1,920 shares during the last quarter. 76.41% of the stock is currently owned by institutional investors.

Bristol-Myers Squibb Trading Up 0.9 %

BMY opened at $59.27 on Thursday. The firm has a market capitalization of $120.21 billion, a price-to-earnings ratio of -16.51, a PEG ratio of 15.77 and a beta of 0.44. The company has a debt-to-equity ratio of 2.83, a current ratio of 1.24 and a quick ratio of 1.09. Bristol-Myers Squibb has a fifty-two week low of $39.35 and a fifty-two week high of $61.08. The company’s 50 day moving average price is $54.21 and its two-hundred day moving average price is $48.05.

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 the consensus estimate of $1.49 by $0.31. Bristol-Myers Squibb had a positive return on equity of 11.94% and a negative net margin of 15.30%. The business had revenue of $11.89 billion for the quarter, compared to analyst estimates of $11.26 billion. During the same quarter in the prior year, the company earned $2.00 earnings per share. The company’s quarterly revenue was up 8.4% on a year-over-year basis. As a group, research analysts predict that Bristol-Myers Squibb will post 0.93 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 4th were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 4.05%. The ex-dividend date was Friday, October 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -66.85%.

Analyst Upgrades and Downgrades

BMY has been the subject of several research reports. Jefferies Financial Group lifted their price target on Bristol-Myers Squibb from $49.00 to $51.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. Barclays lifted their target price on Bristol-Myers Squibb from $42.00 to $43.00 and gave the stock an “underweight” rating in a report on Monday, October 7th. Wolfe Research started coverage on shares of Bristol-Myers Squibb in a research note on Friday, November 15th. They issued a “peer perform” rating on the stock. Citigroup lifted their price objective on shares of Bristol-Myers Squibb from $55.00 to $60.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 12th. Finally, Sanford C. Bernstein started coverage on shares of Bristol-Myers Squibb in a research report on Thursday, October 17th. They set a “market perform” rating and a $56.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, two have assigned a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $54.07.

Insiders Place Their Bets

In related news, SVP Phil M. Holzer sold 700 shares of the firm’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $55.62, for a total transaction of $38,934.00. Following the completion of the sale, the senior vice president now owns 11,760 shares in the company, valued at approximately $654,091.20. This trade represents a 5.62 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Samit Hirawat bought 1,830 shares of the company’s stock in a transaction on Friday, November 1st. The stock was bought at an average price of $54.67 per share, for a total transaction of $100,046.10. Following the completion of the purchase, the executive vice president now owns 62,109 shares of the company’s stock, valued at approximately $3,395,499.03. The trade was a 3.04 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.09% of the company’s stock.

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.