Prospera Financial Services Inc Grows Stock Holdings in Bristol-Myers Squibb (NYSE:BMY)

Prospera Financial Services Inc increased its position in Bristol-Myers Squibb (NYSE:BMY) by 40.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 73,255 shares of the biopharmaceutical company’s stock after purchasing an additional 20,916 shares during the quarter. Prospera Financial Services Inc’s holdings in Bristol-Myers Squibb were worth $3,791,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Price T Rowe Associates Inc. MD boosted its stake in Bristol-Myers Squibb by 77.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,547,823 shares of the biopharmaceutical company’s stock valued at $680,469,000 after acquiring an additional 5,461,767 shares during the last quarter. Federated Hermes Inc. raised its holdings in shares of Bristol-Myers Squibb by 86.3% during the second quarter. Federated Hermes Inc. now owns 7,546,311 shares of the biopharmaceutical company’s stock worth $313,398,000 after purchasing an additional 3,495,704 shares during the period. Swedbank AB acquired a new stake in shares of Bristol-Myers Squibb during the first quarter worth $158,223,000. State of Michigan Retirement System raised its holdings in shares of Bristol-Myers Squibb by 147.7% during the second quarter. State of Michigan Retirement System now owns 4,767,133 shares of the biopharmaceutical company’s stock worth $197,979,000 after purchasing an additional 2,842,400 shares during the period. Finally, Mizuho Markets Americas LLC raised its holdings in shares of Bristol-Myers Squibb by 1,172.5% during the second quarter. Mizuho Markets Americas LLC now owns 2,799,600 shares of the biopharmaceutical company’s stock worth $116,267,000 after purchasing an additional 2,579,600 shares during the period. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

BMY has been the topic of a number of research reports. Leerink Partnrs raised shares of Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 12th. Barclays increased their price objective on shares of Bristol-Myers Squibb from $42.00 to $43.00 and gave the stock an “underweight” rating in a report on Monday, October 7th. TD Cowen increased their price objective on shares of Bristol-Myers Squibb from $53.00 to $59.00 and gave the stock a “hold” rating in a report on Monday, October 7th. Sanford C. Bernstein began coverage on shares of Bristol-Myers Squibb in a report on Thursday, October 17th. They issued a “market perform” rating and a $56.00 price objective on the stock. Finally, Leerink Partners raised shares of Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $55.00 to $73.00 in a report on Tuesday, November 12th. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, two have assigned a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, Bristol-Myers Squibb has a consensus rating of “Hold” and a consensus price target of $54.07.

Bristol-Myers Squibb Price Performance

Shares of Bristol-Myers Squibb stock opened at $57.88 on Thursday. Bristol-Myers Squibb has a 1-year low of $39.35 and a 1-year high of $61.08. The firm has a fifty day simple moving average of $53.26 and a 200-day simple moving average of $47.54. The stock has a market capitalization of $117.39 billion, a price-to-earnings ratio of -16.12, a PEG ratio of 15.08 and a beta of 0.44. The company has a current ratio of 1.24, a quick ratio of 1.09 and a debt-to-equity ratio of 2.83.

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, beating the consensus estimate of $1.49 by $0.31. The firm had revenue of $11.89 billion for the quarter, compared to analyst estimates of $11.26 billion. Bristol-Myers Squibb had a negative net margin of 15.30% and a positive return on equity of 11.94%. The business’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.00 EPS. On average, sell-side analysts expect that Bristol-Myers Squibb will post 0.93 earnings per share for the current year.

Bristol-Myers Squibb Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 4th were issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 4.15%. The ex-dividend date of this dividend was Friday, October 4th. Bristol-Myers Squibb’s payout ratio is -66.85%.

Insider Transactions at Bristol-Myers Squibb

In other Bristol-Myers Squibb news, SVP Phil M. Holzer sold 700 shares of the company’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 transaction, the senior vice president now directly owns 11,760 shares in the company, valued at approximately $654,091.20. This represents a 5.62 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Samit Hirawat purchased 1,830 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was purchased at an average price of $54.67 per share, for a total transaction of $100,046.10. Following the completion of the transaction, the executive vice president now directly owns 62,109 shares in the company, valued at $3,395,499.03. This trade represents a 3.04 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.09% of the stock is owned by insiders.

Bristol-Myers Squibb Company Profile

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.