Coastwise Capital Group LLC Lowers Stock Holdings in Bristol-Myers Squibb (NYSE:BMY)

Coastwise Capital Group LLC cut its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 17.4% during the third quarter, Holdings Channel.com reports. The fund owned 29,539 shares of the biopharmaceutical company’s stock after selling 6,216 shares during the period. Bristol-Myers Squibb accounts for approximately 1.3% of Coastwise Capital Group LLC’s portfolio, making the stock its 19th largest position. Coastwise Capital Group LLC’s holdings in Bristol-Myers Squibb were worth $1,528,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. Reston Wealth Management LLC purchased a new position in Bristol-Myers Squibb during the third quarter valued at $25,000. Hollencrest Capital Management boosted its stake in Bristol-Myers Squibb by 61.3% during the third quarter. Hollencrest Capital Management now owns 492 shares of the biopharmaceutical company’s stock valued at $25,000 after buying an additional 187 shares during the last quarter. Kennebec Savings Bank purchased a new position in Bristol-Myers Squibb during the 3rd quarter valued at approximately $28,000. Darwin Wealth Management LLC bought a new stake in Bristol-Myers Squibb in the 3rd quarter worth approximately $29,000. Finally, Valued Wealth Advisors LLC raised its holdings in shares of Bristol-Myers Squibb by 1,168.1% during the 3rd quarter. Valued Wealth Advisors LLC now owns 596 shares of the biopharmaceutical company’s stock worth $31,000 after acquiring an additional 549 shares in the last quarter. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Sanford C. Bernstein assumed coverage on shares of Bristol-Myers Squibb in a research report on Thursday, October 17th. They issued a “market perform” rating and a $56.00 price target on the stock. Barclays upped 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 report on Monday, October 7th. Daiwa Capital Markets upgraded Bristol-Myers Squibb from a “neutral” rating to an “outperform” rating in a research report on Wednesday, November 13th. Wolfe Research started coverage on Bristol-Myers Squibb in a research report on Friday, November 15th. They set a “peer perform” rating on the stock. Finally, Daiwa America upgraded Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 13th. Two investment analysts have rated the stock with a sell rating, fourteen have given 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, Bristol-Myers Squibb presently has a consensus rating of “Hold” and an average target price of $54.07.

Insider Buying and Selling

In related news, EVP Samit Hirawat purchased 1,830 shares of Bristol-Myers Squibb stock in a transaction dated Friday, November 1st. The stock was purchased at an average cost of $54.67 per share, with a total value of $100,046.10. Following the transaction, the executive vice president now owns 62,109 shares in the company, valued at approximately $3,395,499.03. The trade was a 3.04 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Phil M. Holzer sold 700 shares of the firm’s stock in a transaction dated Monday, November 4th. The shares were 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 in the company, valued at approximately $654,091.20. The trade was a 5.62 % decrease in their position. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by insiders.

Bristol-Myers Squibb Trading Down 0.1 %

BMY opened at $59.22 on Monday. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $61.08. The company has a market capitalization of $120.11 billion, a P/E ratio of -16.50, a PEG ratio of 15.89 and a beta of 0.44. The stock’s fifty day moving average is $54.61 and its two-hundred day moving average is $48.27. The company has a quick ratio of 1.09, a current ratio of 1.24 and a debt-to-equity ratio of 2.83.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.31. Bristol-Myers Squibb had a positive return on equity of 11.94% and a negative net margin of 15.30%. The firm had revenue of $11.89 billion during the quarter, compared to the consensus estimate of $11.26 billion. During the same period in the previous year, the company posted $2.00 earnings per share. The firm’s quarterly revenue was up 8.4% on a year-over-year basis. Analysts forecast that Bristol-Myers Squibb will post 0.93 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

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

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.