Bristol-Myers Squibb (NYSE:BMY) Shares Sold by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank lowered its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 2.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,392,991 shares of the biopharmaceutical company’s stock after selling 37,826 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.07% of Bristol-Myers Squibb worth $72,073,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Kennedy Capital Management LLC purchased a new position in shares of Bristol-Myers Squibb in the 1st quarter worth about $2,588,000. Hancock Whitney Corp raised its holdings in Bristol-Myers Squibb by 5.9% in the first quarter. Hancock Whitney Corp now owns 24,555 shares of the biopharmaceutical company’s stock valued at $1,332,000 after buying an additional 1,365 shares during the period. LRI Investments LLC acquired a new position in Bristol-Myers Squibb during the first quarter valued at approximately $157,000. Atria Investments Inc raised its stake in shares of Bristol-Myers Squibb by 13.3% in the 1st quarter. Atria Investments Inc now owns 138,838 shares of the biopharmaceutical company’s stock valued at $7,536,000 after acquiring an additional 16,270 shares during the period. Finally, First City Capital Management Inc. raised its position in Bristol-Myers Squibb by 4.6% in the first quarter. First City Capital Management Inc. now owns 26,732 shares of the biopharmaceutical company’s stock valued at $1,450,000 after purchasing an additional 1,171 shares during the period. 76.41% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Bristol-Myers Squibb news, SVP Phil M. Holzer sold 700 shares of the stock in a transaction on Monday, November 4th. The stock was sold at an average price of $55.62, for a total value of $38,934.00. Following the sale, the senior vice president now directly owns 11,760 shares of the company’s stock, valued at $654,091.20. This trade represents a 5.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Samit Hirawat purchased 1,830 shares of Bristol-Myers Squibb stock in a transaction dated Friday, November 1st. The shares were purchased at an average cost of $54.67 per share, with a total value of $100,046.10. Following the acquisition, the executive vice president now owns 62,109 shares of the company’s stock, valued at approximately $3,395,499.03. This trade represents a 3.04 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.09% of the company’s stock.

Bristol-Myers Squibb Stock Up 0.9 %

Shares of Bristol-Myers Squibb stock opened at $59.27 on Thursday. The company has a quick ratio of 1.09, a current ratio of 1.24 and a debt-to-equity ratio of 2.83. The business has a 50-day moving average price of $54.21 and a 200 day moving average price of $48.05. Bristol-Myers Squibb has a fifty-two week low of $39.35 and a fifty-two week high of $61.08. The firm has a market cap of $120.21 billion, a P/E ratio of -16.51, a P/E/G ratio of 15.77 and a beta of 0.44.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported $1.80 EPS for the quarter, topping analysts’ consensus estimates of $1.49 by $0.31. The firm had revenue of $11.89 billion during the quarter, compared to the consensus estimate 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 firm’s revenue was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.00 earnings per share. On average, sell-side analysts forecast that Bristol-Myers Squibb will post 0.93 earnings per share for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 4th were issued a $0.60 dividend. The ex-dividend date was Friday, October 4th. This represents a $2.40 dividend on an annualized basis and a yield of 4.05%. Bristol-Myers Squibb’s dividend payout ratio is currently -66.85%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on BMY shares. Sanford C. Bernstein initiated coverage on Bristol-Myers Squibb in a research report on Thursday, October 17th. They issued a “market perform” rating and a $56.00 target price for the company. Daiwa America raised Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 13th. BMO Capital Markets increased their price objective on shares of Bristol-Myers Squibb from $57.00 to $61.00 and gave the company a “market perform” rating in a research report on Tuesday, November 12th. Morgan Stanley boosted their target price on shares of Bristol-Myers Squibb from $36.00 to $39.00 and gave the stock an “underweight” rating in a research report on Tuesday, November 12th. Finally, Jefferies Financial Group raised their price target on shares of Bristol-Myers Squibb from $49.00 to $51.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, two have given a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $54.07.

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.