Bristol Myers Squibb Company (NYSE:BMY) Shares Sold by Cottage Street Advisors LLC

Cottage Street Advisors LLC lessened its stake in shares of Bristol Myers Squibb Company (NYSE:BMY) by 6.8% in the first quarter, according to its most recent filing with the SEC. The fund owned 7,696 shares of the biopharmaceutical company’s stock after selling 563 shares during the period. Cottage Street Advisors LLC’s holdings in Bristol Myers Squibb were worth $469,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Wealthspire Advisors LLC lifted its position in Bristol Myers Squibb by 0.6% during the 4th quarter. Wealthspire Advisors LLC now owns 28,679 shares of the biopharmaceutical company’s stock worth $1,622,000 after buying an additional 170 shares in the last quarter. Bedel Financial Consulting Inc. lifted its position in Bristol Myers Squibb by 3.2% during the 4th quarter. Bedel Financial Consulting Inc. now owns 5,690 shares of the biopharmaceutical company’s stock worth $340,000 after buying an additional 175 shares in the last quarter. King Wealth Management Group lifted its position in Bristol Myers Squibb by 2.6% during the 4th quarter. King Wealth Management Group now owns 7,294 shares of the biopharmaceutical company’s stock worth $413,000 after buying an additional 182 shares in the last quarter. Thoroughbred Financial Services LLC lifted its position in Bristol Myers Squibb by 1.1% during the 4th quarter. Thoroughbred Financial Services LLC now owns 17,763 shares of the biopharmaceutical company’s stock worth $1,004,000 after buying an additional 190 shares in the last quarter. Finally, Marcum Wealth LLC lifted its position in Bristol Myers Squibb by 1.0% during the 1st quarter. Marcum Wealth LLC now owns 19,296 shares of the biopharmaceutical company’s stock worth $1,177,000 after buying an additional 193 shares in the last quarter. Institutional investors and hedge funds own 76.41% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Wall Street Zen cut shares of Bristol Myers Squibb from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 6th. William Blair restated a “market perform” rating on shares of Bristol Myers Squibb in a research note on Friday, April 25th. Jefferies Financial Group lowered their price objective on shares of Bristol Myers Squibb from $70.00 to $68.00 and set a “buy” rating on the stock in a research note on Wednesday, April 23rd. UBS Group lowered their price objective on shares of Bristol Myers Squibb from $60.00 to $54.00 and set a “neutral” rating on the stock in a research note on Friday, April 11th. Finally, The Goldman Sachs Group restated a “neutral” rating and set a $55.00 price objective (down from $67.00) on shares of Bristol Myers Squibb in a research note on Tuesday, April 8th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Bristol Myers Squibb currently has a consensus rating of “Hold” and an average target price of $58.00.

Bristol Myers Squibb Stock Performance

NYSE BMY opened at $46.87 on Friday. The company has a quick ratio of 1.17, a current ratio of 1.28 and a debt-to-equity ratio of 2.65. The company has a market capitalization of $95.38 billion, a P/E ratio of 17.55, a P/E/G ratio of 1.39 and a beta of 0.38. Bristol Myers Squibb Company has a 12-month low of $39.35 and a 12-month high of $63.33. The firm has a 50-day moving average price of $48.20 and a two-hundred day moving average price of $54.35.

Bristol Myers Squibb (NYSE:BMY) last posted its quarterly earnings data on Thursday, April 24th. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.50 by $0.30. The firm had revenue of $11.20 billion during the quarter, compared to the consensus estimate of $10.77 billion. Bristol Myers Squibb had a net margin of 11.38% and a return on equity of 87.62%. The business’s revenue for the quarter was down 5.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($4.40) EPS. Analysts anticipate that Bristol Myers Squibb Company will post 6.74 earnings per share for the current year.

Bristol Myers Squibb Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 3rd will be issued a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 5.29%. The ex-dividend date is Thursday, July 3rd. Bristol Myers Squibb’s dividend payout ratio is currently 92.88%.

Insider Activity

In other news, EVP Samit Hirawat bought 4,250 shares of the company’s stock in a transaction dated Friday, April 25th. The stock was bought at an average cost of $47.58 per share, for a total transaction of $202,215.00. Following the transaction, the executive vice president now owns 83,513 shares of the company’s stock, valued at $3,973,548.54. This represents a 5.36% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.09% of the company’s stock.

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.