Cowa LLC Sells 8,008 Shares of Bristol-Myers Squibb (NYSE:BMY)

Cowa LLC cut its holdings in Bristol-Myers Squibb (NYSE:BMYGet Rating) by 49.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,203 shares of the biopharmaceutical company’s stock after selling 8,008 shares during the period. Cowa LLC’s holdings in Bristol-Myers Squibb were worth $583,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Schubert & Co increased its position in Bristol-Myers Squibb by 119.1% in the 2nd quarter. Schubert & Co now owns 333 shares of the biopharmaceutical company’s stock valued at $26,000 after buying an additional 181 shares in the last quarter. Castle Wealth Management LLC bought a new stake in Bristol-Myers Squibb in the 2nd quarter valued at about $26,000. Kessler Investment Group LLC bought a new stake in Bristol-Myers Squibb in the 2nd quarter valued at about $31,000. LFA Lugano Financial Advisors SA bought a new stake in Bristol-Myers Squibb in the 2nd quarter valued at about $30,000. Finally, New Millennium Group LLC bought a new stake in Bristol-Myers Squibb in the 2nd quarter valued at about $31,000. 75.51% of the stock is owned by institutional investors.

Insider Transactions at Bristol-Myers Squibb

In other news, EVP Ann Powell sold 16,250 shares of the company’s stock in a transaction on Wednesday, November 9th. The shares were sold at an average price of $80.45, for a total value of $1,307,312.50. Following the transaction, the executive vice president now owns 34,226 shares of the company’s stock, valued at $2,753,481.70. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, EVP Ann Powell sold 16,250 shares of the firm’s stock in a transaction that occurred on Wednesday, November 9th. The stock was sold at an average price of $80.45, for a total transaction of $1,307,312.50. Following the transaction, the executive vice president now directly owns 34,226 shares in the company, valued at approximately $2,753,481.70. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Rupert Vessey sold 45,910 shares of the business’s stock in a transaction that occurred on Monday, November 7th. The shares were sold at an average price of $78.88, for a total value of $3,621,380.80. Following the completion of the sale, the executive vice president now owns 57,079 shares of the company’s stock, valued at approximately $4,502,391.52. The disclosure for this sale can be found here. Insiders own 0.09% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on BMY shares. Barclays cut their price target on Bristol-Myers Squibb from $69.00 to $66.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 12th. Credit Suisse Group started coverage on Bristol-Myers Squibb in a research note on Thursday, November 17th. They set a “neutral” rating and a $78.00 price target for the company. Atlantic Securities lifted their price target on Bristol-Myers Squibb from $85.00 to $88.00 and gave the company an “overweight” rating in a research note on Thursday, November 10th. Wells Fargo & Company lifted their price target on Bristol-Myers Squibb from $70.00 to $78.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 3rd. Finally, The Goldman Sachs Group restated a “buy” rating and issued a $85.00 target price on shares of Bristol-Myers Squibb in a research note on Tuesday, September 27th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $80.60.

Bristol-Myers Squibb Price Performance

Bristol-Myers Squibb stock opened at $72.09 on Wednesday. Bristol-Myers Squibb has a 12 month low of $61.86 and a 12 month high of $81.43. The company has a current ratio of 1.42, a quick ratio of 1.31 and a debt-to-equity ratio of 1.13. The business’s 50 day simple moving average is $75.32 and its 200 day simple moving average is $73.70. The company has a market cap of $153.27 billion, a price-to-earnings ratio of 23.56, a PEG ratio of 1.63 and a beta of 0.44.

Bristol-Myers Squibb (NYSE:BMYGet Rating) last issued its earnings results on Tuesday, October 25th. The biopharmaceutical company reported $1.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.16. Bristol-Myers Squibb had a net margin of 14.29% and a return on equity of 50.30%. The business had revenue of $11.22 billion for the quarter, compared to analysts’ expectations of $11.18 billion. During the same quarter in the previous year, the firm posted $2.00 EPS. The business’s revenue for the quarter was down 3.5% compared to the same quarter last year. Sell-side analysts forecast that Bristol-Myers Squibb will post 7.61 EPS for the current year.

Bristol-Myers Squibb Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 1st. Stockholders of record on Friday, January 6th will be issued a $0.57 dividend. The ex-dividend date is Thursday, January 5th. This represents a $2.28 annualized dividend and a dividend yield of 3.16%. This is a boost from Bristol-Myers Squibb’s previous quarterly dividend of $0.54. Bristol-Myers Squibb’s dividend payout ratio is presently 74.27%.

Bristol-Myers Squibb Company Profile

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Bristol Myers Squibb Co engages in the discovery, development, licensing, manufacture, marketing, distribution, and sale of biopharmaceutical products. It offers chemically-synthesized drugs or small molecules and products produced from biological processes called biologics. The company was founded in August 1933 and is headquartered in New York, NY.

Further Reading

Institutional Ownership by Quarter for Bristol-Myers Squibb (NYSE:BMY)

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