Coastwise Capital Group LLC Decreases Stock Position in Bristol-Myers Squibb (NYSE:BMY)

Coastwise Capital Group LLC cut its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 17.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 29,539 shares of the biopharmaceutical company’s stock after selling 6,216 shares during the quarter. Bristol-Myers Squibb accounts for about 1.3% of Coastwise Capital Group LLC’s investment portfolio, making the stock its 19th largest holding. Coastwise Capital Group LLC’s holdings in Bristol-Myers Squibb were worth $1,528,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Community Bank N.A. grew its holdings in Bristol-Myers Squibb by 3.4% in the 3rd quarter. Community Bank N.A. now owns 225,680 shares of the biopharmaceutical company’s stock worth $11,677,000 after acquiring an additional 7,463 shares during the last quarter. Ascent Group LLC purchased a new position in shares of Bristol-Myers Squibb during the third quarter valued at approximately $1,668,000. Benjamin Edwards Inc. purchased a new stake in Bristol-Myers Squibb in the third quarter worth $5,962,000. Aureus Asset Management LLC purchased a new position in Bristol-Myers Squibb during the 3rd quarter valued at $253,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Bristol-Myers Squibb in the 3rd quarter worth $1,251,000. 76.41% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on BMY. Barclays lifted their target price on shares of Bristol-Myers Squibb from $42.00 to $43.00 and gave the company an “underweight” rating in a research note on Monday, October 7th. Jefferies Financial Group increased their target price on Bristol-Myers Squibb from $49.00 to $51.00 and gave the stock a “hold” rating in a research report on Wednesday, August 28th. TD Cowen increased their price objective on Bristol-Myers Squibb from $53.00 to $59.00 and gave the stock a “hold” rating in a report on Monday, October 7th. Citigroup upped their target price on shares of Bristol-Myers Squibb from $55.00 to $60.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 12th. Finally, UBS Group lifted their price target on shares of Bristol-Myers Squibb from $50.00 to $54.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating, two have issued a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $54.07.

Insider Transactions at Bristol-Myers Squibb

In other Bristol-Myers Squibb news, EVP Samit Hirawat purchased 1,830 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were acquired at an average price 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 of the company’s stock, valued at $3,395,499.03. The trade was a 3.04 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Phil M. Holzer sold 700 shares of the firm’s 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 completion of 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 ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.09% of the company’s stock.

Bristol-Myers Squibb Stock Performance

Shares of NYSE BMY opened at $59.22 on Monday. 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 firm’s 50-day moving average price is $54.61 and its 200-day moving average price is $48.27. Bristol-Myers Squibb has a 52-week low of $39.35 and a 52-week high of $61.08. The company has a market cap of $120.11 billion, a PE ratio of -16.50, a PEG ratio of 15.89 and a beta of 0.44.

Bristol-Myers Squibb (NYSE:BMY) last announced its earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share for the quarter, beating analysts’ consensus estimates of $1.49 by $0.31. Bristol-Myers Squibb had a negative net margin of 15.30% and a positive return on equity of 11.94%. The business had revenue of $11.89 billion during the quarter, compared to analyst estimates of $11.26 billion. During the same period in the previous year, the business earned $2.00 EPS. The company’s quarterly revenue was up 8.4% compared to the same quarter last year. As a group, analysts anticipate that Bristol-Myers Squibb will post 0.93 EPS for the current year.

Bristol-Myers Squibb Announces Dividend

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

About Bristol-Myers Squibb

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.