D.A. Davidson & CO. Sells 36,181 Shares of Bristol-Myers Squibb (NYSE:BMY)

D.A. Davidson & CO. lessened its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 8.7% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 378,934 shares of the biopharmaceutical company’s stock after selling 36,181 shares during the period. D.A. Davidson & CO.’s holdings in Bristol-Myers Squibb were worth $19,606,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Kennedy Capital Management LLC acquired a new stake in shares of Bristol-Myers Squibb in the first quarter worth $2,588,000. Ancora Advisors LLC increased its holdings in shares of Bristol-Myers Squibb by 9.8% during the 1st quarter. Ancora Advisors LLC now owns 40,938 shares of the biopharmaceutical company’s stock worth $2,220,000 after purchasing an additional 3,654 shares during the period. Comerica Bank lifted its stake in shares of Bristol-Myers Squibb by 3.7% in the first quarter. Comerica Bank now owns 720,305 shares of the biopharmaceutical company’s stock valued at $39,062,000 after buying an additional 25,716 shares during the period. Hancock Whitney Corp grew its position in Bristol-Myers Squibb by 5.9% during the first quarter. Hancock Whitney Corp now owns 24,555 shares of the biopharmaceutical company’s stock worth $1,332,000 after buying an additional 1,365 shares in the last quarter. Finally, Jaffetilchin Investment Partners LLC increased its stake in Bristol-Myers Squibb by 9.8% during the first quarter. Jaffetilchin Investment Partners LLC now owns 10,265 shares of the biopharmaceutical company’s stock valued at $557,000 after acquiring an additional 912 shares during the period. Institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Trading Down 0.2 %

Shares of BMY opened at $58.73 on Tuesday. The stock has a fifty day moving average price of $53.83 and a two-hundred day moving average price of $47.87. The company has a debt-to-equity ratio of 2.83, a quick ratio of 1.09 and a current ratio of 1.24. The company has a market cap of $119.11 billion, a price-to-earnings ratio of -16.36, a PEG ratio of 15.79 and a beta of 0.44. Bristol-Myers Squibb has a 52-week low of $39.35 and a 52-week high of $61.08.

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

Bristol-Myers Squibb Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 4th were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.09%. The ex-dividend date was Friday, October 4th. Bristol-Myers Squibb’s dividend payout ratio is currently -66.85%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on BMY. TD Cowen raised their price objective on Bristol-Myers Squibb from $53.00 to $59.00 and gave the stock a “hold” rating in a research report on Monday, October 7th. Morgan Stanley lifted their price target on shares of Bristol-Myers Squibb from $36.00 to $39.00 and gave the stock an “underweight” rating in a research note on Tuesday, November 12th. Leerink Partners upgraded shares of Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $55.00 to $73.00 in a research note on Tuesday, November 12th. Jefferies Financial Group lifted their target price on shares of Bristol-Myers Squibb from $49.00 to $51.00 and gave the company a “hold” rating in a research report on Wednesday, August 28th. Finally, Sanford C. Bernstein began coverage on shares of Bristol-Myers Squibb in a research note on Thursday, October 17th. They set a “market perform” rating and a $56.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, two have given a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, Bristol-Myers Squibb has a consensus rating of “Hold” and a consensus target price of $54.07.

Insider Buying and Selling

In other news, EVP Samit Hirawat acquired 1,830 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was purchased at an average cost of $54.67 per share, for a total transaction of $100,046.10. Following the completion of the transaction, the executive vice president now directly owns 62,109 shares in the company, valued at $3,395,499.03. This trade represents a 3.04 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Phil M. Holzer sold 700 shares of the company’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $55.62, for a total transaction of $38,934.00. Following the transaction, the senior vice president now owns 11,760 shares in the company, valued at approximately $654,091.20. The trade was a 5.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by corporate insiders.

About Bristol-Myers Squibb

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.