Wedge Capital Management L L P NC Takes $206,000 Position in Bristol-Myers Squibb Co (NYSE:BMY)

Wedge Capital Management L L P NC bought a new stake in shares of Bristol-Myers Squibb Co (NYSE:BMY) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 4,072 shares of the biopharmaceutical company’s stock, valued at approximately $206,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Sandy Spring Bank boosted its stake in shares of Bristol-Myers Squibb by 0.8% during the 3rd quarter. Sandy Spring Bank now owns 139,782 shares of the biopharmaceutical company’s stock valued at $7,088,000 after purchasing an additional 1,069 shares in the last quarter. Wright Investors Service Inc. boosted its stake in shares of Bristol-Myers Squibb by 345.2% during the 3rd quarter. Wright Investors Service Inc. now owns 29,266 shares of the biopharmaceutical company’s stock valued at $1,484,000 after purchasing an additional 22,693 shares in the last quarter. Sigma Planning Corp boosted its stake in shares of Bristol-Myers Squibb by 19.7% during the 3rd quarter. Sigma Planning Corp now owns 37,583 shares of the biopharmaceutical company’s stock valued at $1,906,000 after purchasing an additional 6,185 shares in the last quarter. Cypress Capital Management LLC boosted its stake in shares of Bristol-Myers Squibb by 17.1% during the 3rd quarter. Cypress Capital Management LLC now owns 180,760 shares of the biopharmaceutical company’s stock valued at $9,166,000 after purchasing an additional 26,425 shares in the last quarter. Finally, Eads & Heald Wealth Management purchased a new position in Bristol-Myers Squibb during the 3rd quarter valued at about $532,000. 80.40% of the stock is currently owned by hedge funds and other institutional investors.

NYSE BMY traded up $0.44 during trading hours on Friday, reaching $58.02. 11,418,626 shares of the company’s stock traded hands, compared to its average volume of 12,766,524. The company has a debt-to-equity ratio of 1.37, a current ratio of 3.83 and a quick ratio of 3.72. The firm has a market cap of $91.88 billion, a PE ratio of 14.58, a PEG ratio of 1.31 and a beta of 0.71. Bristol-Myers Squibb Co has a 52-week low of $42.48 and a 52-week high of $58.46. The firm has a 50-day simple moving average of $52.90 and a 200 day simple moving average of $48.19.

Bristol-Myers Squibb (NYSE:BMY) last issued its earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.11. The business had revenue of $6.01 billion during the quarter, compared to analysts’ expectations of $5.89 billion. Bristol-Myers Squibb had a net margin of 23.53% and a return on equity of 45.49%. The business’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same period in the previous year, the company earned $1.09 earnings per share. Sell-side analysts forecast that Bristol-Myers Squibb Co will post 4.33 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 4th were issued a $0.41 dividend. The ex-dividend date was Thursday, October 3rd. This represents a $1.64 annualized dividend and a yield of 2.83%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently 41.21%.

A number of research analysts recently issued reports on the stock. JPMorgan Chase & Co. set a $62.00 price target on shares of Bristol-Myers Squibb and gave the company a “buy” rating in a research report on Friday, September 13th. Wolfe Research set a $66.00 price target on shares of Bristol-Myers Squibb and gave the company a “buy” rating in a research report on Friday, November 1st. UBS Group lifted their price target on shares of Bristol-Myers Squibb from $51.00 to $53.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. TheStreet raised shares of Bristol-Myers Squibb from a “c+” rating to a “b-” rating in a research report on Wednesday, September 18th. Finally, Atlantic Securities raised shares of Bristol-Myers Squibb from a “neutral” rating to an “overweight” rating and set a $63.00 price target for the company in a research report on Wednesday, August 14th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have given a buy rating to the company’s stock. Bristol-Myers Squibb has a consensus rating of “Buy” and a consensus price target of $56.64.

In other Bristol-Myers Squibb news, insider Louis S. Schmukler sold 25,000 shares of Bristol-Myers Squibb stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $56.56, for a total value of $1,414,000.00. Following the completion of the transaction, the insider now directly owns 31,963 shares of the company’s stock, valued at $1,807,827.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP John E. Elicker sold 15,000 shares of Bristol-Myers Squibb stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $56.66, for a total transaction of $849,900.00. Following the completion of the transaction, the senior vice president now directly owns 74,471 shares of the company’s stock, valued at $4,219,526.86. The disclosure for this sale can be found here. 0.13% 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. The company offers drugs in oncology, immunoscience, cardiovascular, and fibrotic diseases. The company's products include Opdivo, a biological product for anti-cancer indications; Eliquis, an oral inhibitor targeted at stroke prevention in adult patients with non-valvular atrial fibrillation, and the prevention and treatment of venous thromboembolic disorders; and Orencia, a biological product for adult patients with moderately to severely active RA and prostate-specific antigen, as well as reducing signs and symptoms in certain pediatric patients with moderately to severely active polyarticular juvenile idiopathic arthritis.

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Institutional Ownership by Quarter for Bristol-Myers Squibb (NYSE:BMY)

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