Cravens & Co Advisors LLC Cuts Position in Bristol-Myers Squibb (NYSE:BMY)

Cravens & Co Advisors LLC decreased its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 9.7% during the third quarter, HoldingsChannel reports. The institutional investor owned 5,278 shares of the biopharmaceutical company’s stock after selling 565 shares during the period. Cravens & Co Advisors LLC’s holdings in Bristol-Myers Squibb were worth $273,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Patriot Financial Group Insurance Agency LLC raised its position in Bristol-Myers Squibb by 3.8% in the third quarter. Patriot Financial Group Insurance Agency LLC now owns 5,595 shares of the biopharmaceutical company’s stock worth $289,000 after acquiring an additional 206 shares during the period. Sheaff Brock Investment Advisors LLC increased its stake in shares of Bristol-Myers Squibb by 34.3% in the third quarter. Sheaff Brock Investment Advisors LLC now owns 44,546 shares of the biopharmaceutical company’s stock worth $2,305,000 after purchasing an additional 11,387 shares in the last quarter. Nwam LLC purchased a new position in Bristol-Myers Squibb during the third quarter valued at $927,000. Graypoint LLC grew its stake in shares of Bristol-Myers Squibb by 29.4% in the 3rd quarter. Graypoint LLC now owns 11,293 shares of the biopharmaceutical company’s stock worth $584,000 after buying an additional 2,563 shares in the last quarter. Finally, Xponance Inc. lifted its holdings in shares of Bristol-Myers Squibb by 8.8% in the 2nd quarter. Xponance Inc. now owns 317,381 shares of the biopharmaceutical company’s stock worth $13,181,000 after acquiring an additional 25,543 shares during the last quarter. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Stock Performance

Bristol-Myers Squibb stock opened at $58.73 on Wednesday. Bristol-Myers Squibb has a 52-week low of $39.35 and a 52-week high of $61.08. The company has a fifty day simple moving average of $54.02 and a 200-day simple moving average of $47.97. 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 earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.49 by $0.31. Bristol-Myers Squibb had a negative net margin of 15.30% and a positive return on equity of 11.94%. The business had revenue of $11.89 billion during the quarter, compared to analyst estimates of $11.26 billion. During the same quarter in the prior year, the firm earned $2.00 earnings per share. The company’s revenue for the quarter was up 8.4% compared to the same quarter last year. As a group, sell-side analysts predict that Bristol-Myers Squibb will post 0.93 EPS for the current 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 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 of this dividend was Friday, October 4th. Bristol-Myers Squibb’s dividend payout ratio is currently -66.85%.

Insider Activity at Bristol-Myers Squibb

In other Bristol-Myers Squibb news, 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 value of $38,934.00. Following the transaction, the senior vice president now owns 11,760 shares of the company’s stock, valued at $654,091.20. This represents a 5.62 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Samit Hirawat bought 1,830 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was bought at an average cost of $54.67 per share, for a total transaction of $100,046.10. Following the transaction, the executive vice president now directly owns 62,109 shares of the company’s stock, valued at $3,395,499.03. The trade was a 3.04 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.09% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on BMY. BMO Capital Markets raised their target price on shares of Bristol-Myers Squibb from $57.00 to $61.00 and gave the stock a “market perform” rating in a report on Tuesday, November 12th. Jefferies Financial Group boosted their price target on shares of Bristol-Myers Squibb from $49.00 to $51.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. Citigroup boosted their price target on shares of Bristol-Myers Squibb from $55.00 to $60.00 and gave the company a “neutral” rating in a report on Tuesday, November 12th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $50.00 price objective on shares of Bristol-Myers Squibb in a research report on Friday, October 18th. Finally, Daiwa Capital Markets raised shares of Bristol-Myers Squibb from a “neutral” rating to an “outperform” rating in a research report on Wednesday, November 13th. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating, two have given a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat, Bristol-Myers Squibb presently has an average rating of “Hold” and an average target price of $54.07.

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.