Bristol-Myers Squibb (NYSE:BMY) Shares Sold by Kovack Advisors Inc.

Kovack Advisors Inc. lessened its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 10.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,242 shares of the biopharmaceutical company’s stock after selling 2,080 shares during the period. Kovack Advisors Inc.’s holdings in Bristol-Myers Squibb were worth $892,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. raised its stake in shares of Bristol-Myers Squibb by 5.8% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 495,233 shares of the biopharmaceutical company’s stock valued at $25,623,000 after buying an additional 27,239 shares during the last quarter. Oppenheimer & Co. Inc. raised its position in Bristol-Myers Squibb by 15.2% during the third quarter. Oppenheimer & Co. Inc. now owns 234,211 shares of the biopharmaceutical company’s stock valued at $12,118,000 after acquiring an additional 30,872 shares in the last quarter. Pinnacle Financial Partners Inc lifted its holdings in Bristol-Myers Squibb by 299.4% in the third quarter. Pinnacle Financial Partners Inc now owns 363,443 shares of the biopharmaceutical company’s stock valued at $18,805,000 after acquiring an additional 272,439 shares during the period. Haverford Trust Co boosted its position in Bristol-Myers Squibb by 0.6% in the 3rd quarter. Haverford Trust Co now owns 67,229 shares of the biopharmaceutical company’s stock worth $3,478,000 after purchasing an additional 382 shares in the last quarter. Finally, Aptus Capital Advisors LLC grew its stake in shares of Bristol-Myers Squibb by 25.5% during the 3rd quarter. Aptus Capital Advisors LLC now owns 21,738 shares of the biopharmaceutical company’s stock worth $1,125,000 after purchasing an additional 4,421 shares during the period. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Bristol-Myers Squibb Trading Down 1.0 %

BMY opened at $58.43 on Thursday. The firm has a market capitalization of $118.51 billion, a price-to-earnings ratio of -16.28, a price-to-earnings-growth ratio of 21.34 and a beta of 0.44. The company’s 50 day simple moving average is $52.24 and its two-hundred day simple moving average is $46.99. Bristol-Myers Squibb has a 1-year low of $39.35 and a 1-year high of $61.08. The company has a debt-to-equity ratio of 2.83, a current ratio of 1.24 and a quick ratio of 1.09.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported $1.80 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $11.26 billion. During the same quarter last year, the business posted $2.00 earnings per share. The firm’s revenue was up 8.4% compared to the same quarter last year. Analysts expect that Bristol-Myers Squibb will post 0.92 EPS for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 4th were given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 4.11%. The ex-dividend date of this dividend was Friday, October 4th. Bristol-Myers Squibb’s payout ratio is currently -66.85%.

Insiders Place Their Bets

In other news, EVP Samit Hirawat purchased 1,830 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was acquired at an average price of $54.67 per share, for a total transaction of $100,046.10. Following the acquisition, the executive vice president now directly owns 62,109 shares of the company’s stock, valued at approximately $3,395,499.03. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, SVP Phil M. Holzer sold 700 shares of the business’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 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Samit Hirawat bought 1,830 shares of the stock in a transaction on Friday, November 1st. The shares were bought at an average cost of $54.67 per share, with a total value of $100,046.10. Following the purchase, the executive vice president now owns 62,109 shares of the company’s stock, valued at $3,395,499.03. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.09% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on BMY. Daiwa Capital Markets raised shares of Bristol-Myers Squibb from a “neutral” rating to an “outperform” rating in a report on Wednesday. TD Cowen increased their target price on shares of Bristol-Myers Squibb from $53.00 to $59.00 and gave the stock a “hold” rating in a research note on Monday, October 7th. Leerink Partnrs raised Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a report on Tuesday. Morgan Stanley boosted their price objective on Bristol-Myers Squibb from $36.00 to $39.00 and gave the company an “underweight” rating in a research report on Tuesday. Finally, UBS Group increased their target price on Bristol-Myers Squibb from $50.00 to $54.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, two have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Bristol-Myers Squibb presently has an average rating of “Hold” and a consensus price target of $54.07.

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.