Bristol-Myers Squibb (NYSE:BMY) Shares Sold by L.M. Kohn & Company

L.M. Kohn & Company reduced its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 3.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,754 shares of the biopharmaceutical company’s stock after selling 317 shares during the quarter. L.M. Kohn & Company’s holdings in Bristol-Myers Squibb were worth $401,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Caisse DE Depot ET Placement DU Quebec grew its position in shares of Bristol-Myers Squibb by 16.0% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,282,297 shares of the biopharmaceutical company’s stock valued at $118,086,000 after purchasing an additional 314,122 shares during the last quarter. PDT Partners LLC acquired a new stake in shares of Bristol-Myers Squibb in the third quarter valued at approximately $1,016,000. Fred Alger Management LLC grew its position in shares of Bristol-Myers Squibb by 146.5% in the third quarter. Fred Alger Management LLC now owns 102,293 shares of the biopharmaceutical company’s stock valued at $5,293,000 after purchasing an additional 60,797 shares during the last quarter. Captrust Financial Advisors grew its position in shares of Bristol-Myers Squibb by 13.4% in the third quarter. Captrust Financial Advisors now owns 468,106 shares of the biopharmaceutical company’s stock valued at $24,220,000 after purchasing an additional 55,134 shares during the last quarter. Finally, Providence Wealth Advisors LLC grew its position in shares of Bristol-Myers Squibb by 2.5% in the third quarter. Providence Wealth Advisors LLC now owns 30,817 shares of the biopharmaceutical company’s stock valued at $1,625,000 after purchasing an additional 763 shares during the last quarter. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Bristol-Myers Squibb

In related news, SVP Phil M. Holzer sold 700 shares of Bristol-Myers Squibb stock in a transaction on Monday, November 4th. The shares were sold at an average price of $55.62, for a total transaction of $38,934.00. Following the sale, the senior vice president now owns 11,760 shares of the company’s stock, valued at $654,091.20. The trade was a 5.62 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Samit Hirawat purchased 1,830 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The shares were purchased at an average cost of $54.67 per share, for a total transaction of $100,046.10. Following the purchase, 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. Company insiders own 0.09% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Cantor Fitzgerald reiterated a “neutral” rating and issued a $50.00 price target on shares of Bristol-Myers Squibb in a research report on Friday, October 18th. Jefferies Financial Group increased their price target on shares of Bristol-Myers Squibb from $49.00 to $51.00 and gave the company a “hold” rating in a research report on Wednesday, August 28th. UBS Group upped their price objective on shares of Bristol-Myers Squibb from $50.00 to $54.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. Daiwa Capital Markets raised shares of Bristol-Myers Squibb from a “neutral” rating to an “outperform” rating in a research note on Wednesday, November 13th. Finally, Morgan Stanley upped their price objective on shares of Bristol-Myers Squibb from $36.00 to $39.00 and gave the company an “underweight” rating in a research note on Tuesday, November 12th. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating, two have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $54.07.

Bristol-Myers Squibb Stock Down 0.1 %

Shares of BMY opened at $59.22 on Friday. The firm has a market cap of $120.11 billion, a PE ratio of -16.50, a price-to-earnings-growth ratio of 15.90 and a beta of 0.44. The company’s fifty day moving average is $54.61 and its two-hundred day moving average is $48.25. Bristol-Myers Squibb has a fifty-two week low of $39.35 and a fifty-two week high of $61.08. The company has a quick ratio of 1.09, a current ratio of 1.24 and a debt-to-equity ratio of 2.83.

Bristol-Myers Squibb (NYSE:BMY) last posted its earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.31. The business 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 quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.00 EPS. Analysts forecast that Bristol-Myers Squibb will post 0.93 earnings per share for the current year.

Bristol-Myers Squibb Announces Dividend

The firm also recently announced 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. The ex-dividend date of this dividend was Friday, October 4th. This represents a $2.40 annualized dividend and a dividend yield of 4.05%. Bristol-Myers Squibb’s payout ratio is -66.85%.

Bristol-Myers Squibb 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.