Bristol Myers Squibb Company $BMY Position Boosted by Lido Advisors LLC

Lido Advisors LLC increased its position in Bristol Myers Squibb Company (NYSE:BMY) by 20.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 145,914 shares of the biopharmaceutical company’s stock after purchasing an additional 25,193 shares during the quarter. Lido Advisors LLC’s holdings in Bristol Myers Squibb were worth $9,105,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Davis Asset Management L.P. acquired a new position in Bristol Myers Squibb during the 2nd quarter valued at about $27,000. Addison Advisors LLC bought a new stake in shares of Bristol Myers Squibb during the second quarter worth approximately $32,000. Groupe la Francaise raised its stake in shares of Bristol Myers Squibb by 562.9% during the second quarter. Groupe la Francaise now owns 590 shares of the biopharmaceutical company’s stock worth $33,000 after buying an additional 501 shares during the last quarter. Arlington Trust Co LLC bought a new stake in shares of Bristol Myers Squibb during the second quarter worth approximately $35,000. Finally, Kilter Group LLC acquired a new position in Bristol Myers Squibb in the second quarter valued at approximately $35,000. 76.41% of the stock is owned by institutional investors.

Key Bristol Myers Squibb News

These are some of the BMY news items that stood out recently:

• Positive Sentiment: Some analysts and commentators consider BMY attractively valued, citing roughly 10 times forward earnings and a view that shares remain below fair value despite a strong multi-year run. That could support investor interest if the company delivers on its cash-flow and pipeline prospects. Our Bristol Myers Squibb Stock Pick Is Up 35%. It’s Still a Good Bet in Healthcare. Bristol Myers Squibb Stock Looks Below Fair Value Following A 41% Run
• Neutral Sentiment: Bristol Myers plans to bring its scientific and clinical teams together in a unified R&D organization, aiming to accelerate development and make better use of new technologies. Research chief Robert Plenge is leaving as part of the change. The strategy could improve productivity, but the leadership transition and results of the restructuring remain uncertain. Bristol Myers to merge scientific, clinical teams under new R&D structure Bristol Myers research chief to depart in evolution of company’s structure
• Negative Sentiment: Drug-price negotiations are a potential longer-term headwind for BMY, with the article describing the company as facing a bigger test in the years ahead. The risk is not presented as an immediate revenue hit, but could weigh on future pricing and growth expectations. Drug pricing risks for pharmaceutical companies

Bristol Myers Squibb Stock Down 0.8%

BMY stock opened at $62.42 on Friday. The company has a debt-to-equity ratio of 1.79, a current ratio of 1.59 and a quick ratio of 1.44. The stock has a market capitalization of $127.58 billion, a P/E ratio of 13.84, a P/E/G ratio of 0.32 and a beta of 0.20. The business has a 50-day moving average of $61.99 and a 200-day moving average of $60.27. Bristol Myers Squibb Company has a fifty-two week low of $45.26 and a fifty-two week high of $68.64.

Bristol Myers Squibb (NYSE:BMY) last announced its earnings results on Thursday, October 29th. The biopharmaceutical company reported $1.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.25. Bristol Myers Squibb had a return on equity of 60.48% and a net margin of 18.47%. The business had revenue of $13.07 billion for the quarter, compared to analyst estimates of $12.72 billion. During the same quarter last year, the firm earned $1.63 EPS. Bristol Myers Squibb’s revenue for the quarter was up 6.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Bristol Myers Squibb Company will post 6.46 earnings per share for the current fiscal year.

Bristol Myers Squibb Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, November 2nd. Stockholders of record on Friday, October 2nd were paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 4.0%. The ex-dividend date of this dividend was Friday, October 2nd. Bristol Myers Squibb’s dividend payout ratio (DPR) is currently 55.88%.

Insider Activity at Bristol Myers Squibb

In other news, Director Julia Haller sold 3,800 shares of Bristol Myers Squibb stock in a transaction that occurred on Thursday, November 5th. The shares were sold at an average price of $63.31, for a total value of $240,578.00. Following the sale, the director directly owned 30,279 shares in the company, valued at $1,916,963.49. This trade represents a 11.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Phil M. Holzer sold 500 shares of the business’s stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $67.50, for a total transaction of $33,750.00. Following the completion of the sale, the senior vice president directly owned 16,862 shares in the company, valued at approximately $1,138,185. This represents a 2.88% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.05% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on BMY shares. Cantor Fitzgerald reduced their price objective on shares of Bristol Myers Squibb from $59.00 to $53.00 and set a “neutral” rating on the stock in a research note on Thursday, October 8th. Morgan Stanley lowered their target price on shares of Bristol Myers Squibb from $41.00 to $40.00 and set an “underweight” rating for the company in a report on Friday, October 30th. Jefferies Financial Group reiterated a “buy” rating and set a $76.00 target price on shares of Bristol Myers Squibb in a research report on Monday, October 12th. Zacks Research downgraded Bristol Myers Squibb from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 22nd. Finally, William Blair restated a “market perform” rating on shares of Bristol Myers Squibb in a research report on Monday, October 12th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, sixteen have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $65.46.

About Bristol Myers Squibb

Bristol Myers Squibb is a global biopharmaceutical company that discovers, develops, manufactures and markets medicines. Its research and commercial activities focus on serious diseases, particularly cancer, blood disorders, immune-mediated conditions and cardiovascular disease. The company’s medicines include Opdivo and Yervoy for cancer, Eliquis for preventing and treating blood clots, and Orencia for certain autoimmune conditions. Its portfolio also includes treatments for hematologic diseases and other serious illnesses.