Mcrae Capital Management Inc. Has $360,000 Stake in Bristol-Myers Squibb Co (NYSE:BMY)

Mcrae Capital Management Inc. boosted its holdings in shares of Bristol-Myers Squibb Co (NYSE:BMY) by 34.0% in the third quarter, HoldingsChannel reports. The firm owned 7,100 shares of the biopharmaceutical company’s stock after acquiring an additional 1,800 shares during the period. Mcrae Capital Management Inc.’s holdings in Bristol-Myers Squibb were worth $360,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in BMY. Garrett Wealth Advisory Group LLC bought a new position in Bristol-Myers Squibb in the 3rd quarter valued at $26,000. Lenox Wealth Advisors LLC boosted its position in Bristol-Myers Squibb by 555.7% in the 3rd quarter. Lenox Wealth Advisors LLC now owns 636 shares of the biopharmaceutical company’s stock valued at $32,000 after buying an additional 539 shares during the last quarter. Financial Gravity Wealth Inc. boosted its position in Bristol-Myers Squibb by 101.2% in the 3rd quarter. Financial Gravity Wealth Inc. now owns 650 shares of the biopharmaceutical company’s stock valued at $33,000 after buying an additional 327 shares during the last quarter. Endurance Wealth Management Inc. boosted its position in Bristol-Myers Squibb by 119.6% in the 2nd quarter. Endurance Wealth Management Inc. now owns 918 shares of the biopharmaceutical company’s stock valued at $42,000 after buying an additional 500 shares during the last quarter. Finally, HMS Capital Management LLC bought a new position in Bristol-Myers Squibb in the 2nd quarter valued at $45,000. 80.25% of the stock is owned by hedge funds and other institutional investors.

In other Bristol-Myers Squibb news, Director Robert J. Bertolini acquired 11,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The shares were acquired at an average price of $44.72 per share, with a total value of $491,920.00. Following the purchase, the director now owns 11,397 shares of the company’s stock, valued at approximately $509,673.84. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.13% of the company’s stock.

BMY has been the topic of several recent research reports. TheStreet upgraded Bristol-Myers Squibb from a “c+” rating to a “b-” rating in a research report on Wednesday, September 18th. JPMorgan Chase & Co. set a $62.00 price target on Bristol-Myers Squibb and gave the stock a “buy” rating in a research report on Friday, September 13th. Bank of America initiated coverage on Bristol-Myers Squibb in a research report on Wednesday, October 16th. They issued a “buy” rating and a $60.00 price target on the stock. Atlantic Securities upgraded Bristol-Myers Squibb from a “neutral” rating to an “overweight” rating and set a $63.00 price target on the stock in a research report on Wednesday, August 14th. Finally, ValuEngine lowered Bristol-Myers Squibb from a “hold” rating to a “sell” rating in a research report on Saturday. One analyst has rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $56.53.

Shares of NYSE:BMY traded up $3.30 during midday trading on Tuesday, hitting $56.50. The company had a trading volume of 1,335,066 shares, compared to its average volume of 9,842,616. Bristol-Myers Squibb Co has a 12 month low of $42.48 and a 12 month high of $54.81. The company has a current ratio of 3.88, a quick ratio of 3.75 and a debt-to-equity ratio of 1.51. The stock has a market cap of $86.74 billion, a price-to-earnings ratio of 14.15, a PEG ratio of 1.25 and a beta of 0.72. The firm has a fifty day simple moving average of $50.25 and a 200 day simple moving average of $47.28.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings data on Thursday, July 25th. The biopharmaceutical company reported $1.18 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.06 by $0.12. The business had revenue of $6.27 billion for the quarter, compared to the consensus estimate of $6.10 billion. Bristol-Myers Squibb had a return on equity of 47.63% and a net margin of 26.14%. The firm’s revenue was up 10.0% compared to the same quarter last year. During the same quarter last year, the business posted $1.01 EPS. Equities analysts forecast that Bristol-Myers Squibb Co will post 4.28 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 4th will be paid a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 2.90%. The ex-dividend date of this dividend is Thursday, October 3rd. Bristol-Myers Squibb’s payout ratio is presently 41.21%.

Bristol-Myers Squibb Company Profile

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.

Further Reading: What is Put Option Volume?

Want to see what other hedge funds are holding BMY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bristol-Myers Squibb Co (NYSE:BMY).

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

Receive News & Ratings for Bristol-Myers Squibb Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bristol-Myers Squibb and related companies with MarketBeat.com's FREE daily email newsletter.