Kentucky Retirement Systems Sells 11,516 Shares of Bristol-Myers Squibb (NYSE:BMY)

Kentucky Retirement Systems decreased its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 7.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 141,239 shares of the biopharmaceutical company’s stock after selling 11,516 shares during the quarter. Kentucky Retirement Systems’ holdings in Bristol-Myers Squibb were worth $7,308,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Patriot Financial Group Insurance Agency LLC increased its stake in Bristol-Myers Squibb by 3.8% during the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 5,595 shares of the biopharmaceutical company’s stock valued at $289,000 after purchasing an additional 206 shares in the last quarter. Graypoint LLC grew its holdings in shares of Bristol-Myers Squibb by 29.4% during the third quarter. Graypoint LLC now owns 11,293 shares of the biopharmaceutical company’s stock valued at $584,000 after buying an additional 2,563 shares during the last quarter. Xponance Inc. raised 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. Plato Investment Management Ltd lifted its position in Bristol-Myers Squibb by 25.4% in the 2nd quarter. Plato Investment Management Ltd now owns 103,954 shares of the biopharmaceutical company’s stock valued at $4,317,000 after acquiring an additional 21,041 shares in the last quarter. Finally, Meritage Portfolio Management increased its holdings in Bristol-Myers Squibb by 1,874.9% during the 3rd quarter. Meritage Portfolio Management now owns 108,264 shares of the biopharmaceutical company’s stock worth $5,602,000 after purchasing an additional 102,782 shares in the last quarter. 76.41% of the stock is owned by institutional investors and hedge funds.

Bristol-Myers Squibb Trading Down 3.9 %

Shares of Bristol-Myers Squibb stock opened at $56.22 on Friday. The stock has a market capitalization of $114.02 billion, a P/E ratio of -15.66, a P/E/G ratio of 15.83 and a beta of 0.44. 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 stock’s 50-day simple moving average is $52.73 and its 200 day simple moving average is $47.23. 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 data 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. The business had revenue of $11.89 billion for the quarter, compared to analysts’ expectations of $11.26 billion. Bristol-Myers Squibb had a positive return on equity of 11.94% and a negative net margin of 15.30%. The firm’s quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.00 EPS. As a group, research analysts anticipate that Bristol-Myers Squibb will post 0.92 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 4th were given a $0.60 dividend. The ex-dividend date of this dividend was Friday, October 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.27%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -66.85%.

Insider Activity at Bristol-Myers Squibb

In other news, SVP Phil M. Holzer sold 700 shares of the stock in a transaction on 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Samit Hirawat acquired 1,830 shares of the company’s stock in a transaction dated 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 completion of the acquisition, the executive vice president now directly owns 62,109 shares in the company, valued at $3,395,499.03. The trade was 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.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on BMY shares. Leerink Partners raised Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $55.00 to $73.00 in a research report on Tuesday. TD Cowen raised their price objective on Bristol-Myers Squibb from $53.00 to $59.00 and gave the company a “hold” rating in a research note on Monday, October 7th. BMO Capital Markets increased their target price on shares of Bristol-Myers Squibb from $57.00 to $61.00 and gave the company a “market perform” rating in a report on Tuesday. Jefferies Financial Group boosted their price target on shares of Bristol-Myers Squibb from $49.00 to $51.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating for the company in a research note on Tuesday, July 23rd. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, two have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Bristol-Myers Squibb presently has a consensus rating of “Hold” and an average target price of $54.07.

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.