Coastwise Capital Group LLC Reduces Holdings in Bristol Myers Squibb Company (NYSE:BMY)

Coastwise Capital Group LLC trimmed its stake in Bristol Myers Squibb Company (NYSE:BMY) by 9.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 24,090 shares of the biopharmaceutical company’s stock after selling 2,600 shares during the period. Bristol Myers Squibb accounts for about 1.2% of Coastwise Capital Group LLC’s investment portfolio, making the stock its 19th biggest holding. Coastwise Capital Group LLC’s holdings in Bristol Myers Squibb were worth $1,469,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Pinney & Scofield Inc. bought a new stake in shares of Bristol Myers Squibb in the fourth quarter worth approximately $25,000. Park Square Financial Group LLC bought a new stake in shares of Bristol Myers Squibb in the fourth quarter worth approximately $26,000. Transce3nd LLC purchased a new position in shares of Bristol Myers Squibb in the fourth quarter worth approximately $28,000. Global Wealth Strategies & Associates boosted its holdings in shares of Bristol Myers Squibb by 137.5% in the first quarter. Global Wealth Strategies & Associates now owns 475 shares of the biopharmaceutical company’s stock worth $29,000 after buying an additional 275 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Bristol Myers Squibb in the first quarter worth approximately $31,000. 76.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Piper Sandler assumed coverage on shares of Bristol Myers Squibb in a report on Tuesday, April 22nd. They issued an “overweight” rating and a $65.00 price objective on the stock. William Blair reaffirmed a “market perform” rating on shares of Bristol Myers Squibb in a report on Friday, April 25th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $55.00 price target (down previously from $67.00) on shares of Bristol Myers Squibb in a report on Tuesday, April 8th. UBS Group lowered their price target on shares of Bristol Myers Squibb from $60.00 to $54.00 and set a “neutral” rating on the stock in a report on Friday, April 11th. Finally, Wall Street Zen downgraded shares of Bristol Myers Squibb from a “strong-buy” rating to a “buy” rating in a report on Friday, June 6th. Two 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 has an average rating of “Hold” and an average target price of $57.69.

Insiders Place Their Bets

In other Bristol Myers Squibb news, EVP Samit Hirawat purchased 4,250 shares of the business’s stock in a transaction that occurred on Friday, April 25th. The shares were bought at an average price of $47.58 per share, for a total transaction of $202,215.00. Following the acquisition, the executive vice president owned 83,513 shares in the company, valued at $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 0.09% of the company’s stock.

Bristol Myers Squibb Stock Performance

BMY stock opened at $47.40 on Friday. The firm has a market cap of $96.46 billion, a price-to-earnings ratio of 17.75, a PEG ratio of 2.44 and a beta of 0.36. The firm has a 50-day simple moving average of $47.47 and a two-hundred day simple moving average of $52.91. Bristol Myers Squibb Company has a one year low of $41.90 and a one year high of $63.33. The company has a debt-to-equity ratio of 2.65, a quick ratio of 1.17 and a current ratio of 1.28.

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

Bristol Myers Squibb Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Thursday, July 3rd will be issued a $0.62 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $2.48 annualized dividend and a yield of 5.23%. Bristol Myers Squibb’s dividend payout ratio (DPR) is presently 92.88%.

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.