Rovin Capital UT ADV Reduces Holdings in Bristol Myers Squibb Company (NYSE:BMY)

Rovin Capital UT ADV cut its holdings in Bristol Myers Squibb Company (NYSE:BMY) by 23.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,944 shares of the biopharmaceutical company’s stock after selling 3,372 shares during the quarter. Rovin Capital UT ADV’s holdings in Bristol Myers Squibb were worth $667,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of BMY. LaFleur & Godfrey LLC lifted its stake in shares of Bristol Myers Squibb by 3.5% during the fourth quarter. LaFleur & Godfrey LLC now owns 43,551 shares of the biopharmaceutical company’s stock valued at $2,463,000 after buying an additional 1,487 shares during the period. Brighton Jones LLC boosted its holdings in shares of Bristol Myers Squibb by 33.4% during the fourth quarter. Brighton Jones LLC now owns 19,728 shares of the biopharmaceutical company’s stock worth $1,116,000 after purchasing an additional 4,935 shares during the last quarter. Bank Pictet & Cie Europe AG purchased a new position in Bristol Myers Squibb during the fourth quarter worth about $13,094,000. Smartleaf Asset Management LLC boosted its stake in Bristol Myers Squibb by 53.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 21,937 shares of the biopharmaceutical company’s stock worth $1,230,000 after buying an additional 7,629 shares during the last quarter. Finally, Kohmann Bosshard Financial Services LLC acquired a new position in shares of Bristol Myers Squibb during the 4th quarter valued at about $139,000. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Wall Street Zen downgraded Bristol Myers Squibb from a “strong-buy” rating to a “buy” rating in a report on Friday, June 6th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $55.00 price target on shares of Bristol Myers Squibb in a report on Tuesday, April 22nd. Jefferies Financial Group reduced their price objective on 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 target price on Bristol Myers Squibb from $60.00 to $54.00 and set a “neutral” rating for the company in a research note on Friday, April 11th. Finally, William Blair reissued a “market perform” rating on shares of Bristol Myers Squibb in a research report on Friday, April 25th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, six have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $58.00.

Bristol Myers Squibb Price Performance

Shares of NYSE:BMY opened at $46.35 on Tuesday. The firm has a market cap of $94.33 billion, a PE ratio of 17.36, a price-to-earnings-growth ratio of 1.37 and a beta of 0.38. The company has a fifty day simple moving average of $47.85 and a 200 day simple moving average of $53.84. The company has a current ratio of 1.28, a quick ratio of 1.17 and a debt-to-equity ratio of 2.65. Bristol Myers Squibb Company has a 12-month low of $39.35 and a 12-month high of $63.33.

Bristol Myers Squibb (NYSE:BMY) last released its earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.80 earnings per share for the quarter, topping the consensus estimate of $1.50 by $0.30. Bristol Myers Squibb had a net margin of 11.38% and a return on equity of 87.62%. The company had revenue of $11.20 billion during the quarter, compared to the consensus estimate of $10.77 billion. During the same quarter in the previous year, the firm earned ($4.40) EPS. The company’s revenue was down 5.6% on a year-over-year basis. On average, equities research analysts anticipate that Bristol Myers Squibb Company will post 6.74 EPS for the current fiscal year.

Bristol Myers Squibb Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Thursday, July 3rd will be given a $0.62 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $2.48 annualized dividend and a dividend yield of 5.35%. Bristol Myers Squibb’s payout ratio is 92.88%.

Insider Buying and Selling at Bristol Myers Squibb

In related news, EVP Samit Hirawat bought 4,250 shares of the company’s stock in a transaction on Friday, April 25th. The shares were purchased at an average cost of $47.58 per share, with a total value of $202,215.00. Following the completion of the transaction, the executive vice president directly owned 83,513 shares of the company’s stock, valued at approximately $3,973,548.54. This represents a 5.36% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.07% of the company’s stock.

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.