Rovin Capital UT ADV Cuts Position in Bristol-Myers Squibb (NYSE:BMY)

Rovin Capital UT ADV reduced its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 16.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,316 shares of the biopharmaceutical company’s stock after selling 2,810 shares during the quarter. Rovin Capital UT ADV’s holdings in Bristol-Myers Squibb were worth $810,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in BMY. Contravisory Investment Management Inc. acquired a new position in Bristol-Myers Squibb during the 4th quarter worth approximately $488,000. Essex Savings Bank raised its stake in shares of Bristol-Myers Squibb by 4.4% during the fourth quarter. Essex Savings Bank now owns 17,432 shares of the biopharmaceutical company’s stock valued at $986,000 after purchasing an additional 733 shares during the period. Pinnacle Bancorp Inc. boosted its stake in shares of Bristol-Myers Squibb by 23.3% in the fourth quarter. Pinnacle Bancorp Inc. now owns 3,176 shares of the biopharmaceutical company’s stock valued at $180,000 after purchasing an additional 600 shares during the period. Armstrong Advisory Group Inc. grew its holdings in Bristol-Myers Squibb by 3.7% during the 4th quarter. Armstrong Advisory Group Inc. now owns 6,148 shares of the biopharmaceutical company’s stock valued at $348,000 after purchasing an additional 218 shares in the last quarter. Finally, Burney Co. increased its stake in Bristol-Myers Squibb by 4.2% during the 4th quarter. Burney Co. now owns 12,753 shares of the biopharmaceutical company’s stock worth $721,000 after buying an additional 516 shares during the period. Institutional investors and hedge funds own 76.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on BMY shares. Citigroup raised their target price on Bristol-Myers Squibb from $55.00 to $60.00 and gave the company a “neutral” rating in a research note on Tuesday, November 12th. Sanford C. Bernstein initiated coverage on shares of Bristol-Myers Squibb in a research report on Thursday, October 17th. They set a “market perform” rating and a $56.00 price target for the company. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $50.00 price target on shares of Bristol-Myers Squibb in a report on Friday, October 18th. Wolfe Research started coverage on shares of Bristol-Myers Squibb in a report on Friday, November 15th. They set a “peer perform” rating for the company. Finally, Daiwa Capital Markets upgraded shares of Bristol-Myers Squibb from a “neutral” rating to an “outperform” rating in a research note on Wednesday, November 13th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating, four have issued a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $56.27.

Insider Buying and Selling at Bristol-Myers Squibb

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

Bristol-Myers Squibb Price Performance

Shares of NYSE BMY opened at $55.96 on Thursday. Bristol-Myers Squibb has a 1-year low of $39.35 and a 1-year high of $61.08. The firm has a market capitalization of $113.50 billion, a PE ratio of -15.59, a P/E/G ratio of 15.20 and a beta of 0.45. The company has a debt-to-equity ratio of 2.83, a current ratio of 1.24 and a quick ratio of 1.09. The business’s fifty day moving average price is $57.44 and its two-hundred day moving average price is $51.76.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings data 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. Bristol-Myers Squibb had a positive return on equity of 11.94% and a negative net margin of 15.30%. The business 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 firm posted $2.00 earnings per share. The business’s revenue was up 8.4% on a year-over-year basis. On average, research analysts expect that Bristol-Myers Squibb will post 0.93 EPS for the current year.

Bristol-Myers Squibb Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 3rd will be issued a $0.62 dividend. The ex-dividend date is Friday, January 3rd. This represents a $2.48 annualized dividend and a yield of 4.43%. This is an increase from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. Bristol-Myers Squibb’s dividend payout ratio is presently -69.08%.

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.