Coastwise Capital Group LLC Decreases Stock Holdings in Bristol-Myers Squibb (NYSE:BMY)

Coastwise Capital Group LLC trimmed its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 9.6% during the 4th quarter, HoldingsChannel.com reports. The firm owned 26,690 shares of the biopharmaceutical company’s stock after selling 2,849 shares during the quarter. Bristol-Myers Squibb makes up 1.2% of Coastwise Capital Group LLC’s investment portfolio, making the stock its 23rd largest position. Coastwise Capital Group LLC’s holdings in Bristol-Myers Squibb were worth $1,510,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Hunter Associates Investment Management LLC lifted its position in shares of Bristol-Myers Squibb by 2.8% in the fourth quarter. Hunter Associates Investment Management LLC now owns 18,379 shares of the biopharmaceutical company’s stock valued at $1,039,000 after acquiring an additional 504 shares in the last quarter. Oak Harvest Investment Services lifted its holdings in Bristol-Myers Squibb by 0.8% in the 4th quarter. Oak Harvest Investment Services now owns 105,597 shares of the biopharmaceutical company’s stock valued at $5,973,000 after purchasing an additional 818 shares in the last quarter. Mediolanum International Funds Ltd lifted its stake in shares of Bristol-Myers Squibb by 4.6% in the fourth quarter. Mediolanum International Funds Ltd now owns 92,612 shares of the biopharmaceutical company’s stock worth $5,179,000 after buying an additional 4,085 shares in the last quarter. Sivik Global Healthcare LLC purchased a new position in shares of Bristol-Myers Squibb in the fourth quarter worth about $3,959,000. Finally, Crews Bank & Trust purchased a new position in shares of Bristol-Myers Squibb in the fourth quarter worth about $335,000. 76.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

BMY has been the topic of a number of research reports. Wolfe Research assumed coverage on shares of Bristol-Myers Squibb in a research note on Friday, November 15th. They issued a “peer perform” rating on the stock. Leerink Partnrs upgraded Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 12th. Bank of America reiterated a “neutral” rating and set a $63.00 price target on shares of Bristol-Myers Squibb in a report on Tuesday, December 10th. BMO Capital Markets lifted 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 research note on Tuesday, November 12th. Finally, Daiwa America raised shares of Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 13th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, four have given a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $56.60.

Insiders Place Their Bets

In other Bristol-Myers Squibb news, SVP Phil M. Holzer sold 700 shares of the firm’s stock in a transaction on Monday, November 4th. The stock was 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 $654,091.20. This trade represents a 5.62 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.09% of the stock is owned by company insiders.

Bristol-Myers Squibb Stock Up 0.1 %

Shares of NYSE:BMY opened at $59.11 on Friday. 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 firm has a market capitalization of $119.88 billion, a PE ratio of -16.46, a price-to-earnings-growth ratio of 2.10 and a beta of 0.45. The firm’s 50-day moving average is $57.60 and its two-hundred day moving average is $53.06. Bristol-Myers Squibb has a 1 year low of $39.35 and a 1 year high of $61.10.

Bristol-Myers Squibb (NYSE:BMY) last announced its earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $11.89 billion for the quarter, compared to the consensus estimate of $11.26 billion. During the same period in the prior year, the firm earned $2.00 EPS. The firm’s revenue for the quarter was up 8.4% on a year-over-year basis. Analysts predict that Bristol-Myers Squibb will post 0.92 EPS for the current year.

Bristol-Myers Squibb Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 3rd will be issued a dividend of $0.62 per share. This is an increase from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. The ex-dividend date is Friday, January 3rd. This represents a $2.48 annualized dividend and a yield of 4.20%. Bristol-Myers Squibb’s dividend payout ratio is -69.08%.

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.