Kentucky Retirement Systems Insurance Trust Fund Trims Stake in Bristol-Myers Squibb (NYSE:BMY)

Kentucky Retirement Systems Insurance Trust Fund lowered its holdings in Bristol-Myers Squibb (NYSE:BMY) by 8.2% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 60,026 shares of the biopharmaceutical company’s stock after selling 5,356 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Bristol-Myers Squibb were worth $3,106,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. First Foundation Advisors increased its stake in Bristol-Myers Squibb by 20.1% in the first quarter. First Foundation Advisors now owns 3,270 shares of the biopharmaceutical company’s stock valued at $177,000 after acquiring an additional 548 shares during the last quarter. Nicolet Advisory Services LLC raised its holdings in shares of Bristol-Myers Squibb by 62.5% during the 1st quarter. Nicolet Advisory Services LLC now owns 12,600 shares of the biopharmaceutical company’s stock valued at $650,000 after buying an additional 4,844 shares in the last quarter. Spirepoint Private Client LLC bought a new stake in Bristol-Myers Squibb in the 1st quarter worth approximately $506,000. TIAA Trust National Association boosted its stake in Bristol-Myers Squibb by 245.5% in the first quarter. TIAA Trust National Association now owns 419,445 shares of the biopharmaceutical company’s stock worth $22,747,000 after buying an additional 298,026 shares in the last quarter. Finally, Acadian Asset Management LLC grew its position in Bristol-Myers Squibb by 76.1% during the first quarter. Acadian Asset Management LLC now owns 620,324 shares of the biopharmaceutical company’s stock valued at $33,632,000 after acquiring an additional 268,006 shares during the last quarter. Institutional investors own 76.41% of the company’s stock.

Insiders Place Their Bets

In related news, SVP Phil M. Holzer sold 700 shares of the 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 completion of the transaction, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Samit Hirawat purchased 1,830 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were acquired at an average cost of $54.67 per share, with a total value of $100,046.10. Following the completion of the transaction, the executive vice president now 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 disclosure for this purchase can be found here. 0.09% of the stock is owned by corporate insiders.

Bristol-Myers Squibb Trading Down 3.9 %

NYSE:BMY opened at $56.22 on Friday. The company has a 50-day moving average price of $52.73 and a 200-day moving average price of $47.23. The stock has a market cap of $114.02 billion, a price-to-earnings ratio of -15.66, a P/E/G ratio of 15.83 and a beta of 0.44. The company has a current ratio of 1.24, a quick ratio of 1.09 and a debt-to-equity ratio of 2.83. Bristol-Myers Squibb has a 12 month low of $39.35 and a 12 month 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 EPS 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 business had revenue of $11.89 billion during the quarter, compared to analyst estimates of $11.26 billion. During the same period last year, the business posted $2.00 earnings per share. Bristol-Myers Squibb’s quarterly revenue was up 8.4% compared to the same quarter last year. Equities analysts predict that Bristol-Myers Squibb will post 0.92 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

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

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on BMY shares. TD Cowen upped their price objective on shares of Bristol-Myers Squibb from $53.00 to $59.00 and gave the company a “hold” rating in a research note on Monday, October 7th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $50.00 price objective on shares of Bristol-Myers Squibb in a research note on Friday, October 18th. Sanford C. Bernstein began coverage on Bristol-Myers Squibb in a research note on Thursday, October 17th. They issued a “market perform” rating and a $56.00 target price for the company. BMO Capital Markets raised their price target on Bristol-Myers Squibb from $57.00 to $61.00 and gave the stock a “market perform” rating in a research report on Tuesday. Finally, Daiwa America raised Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research note on Wednesday. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating, two have assigned a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus 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.