Bristol-Myers Squibb (NYSE:BMY) Shares Sold by Vestal Point Capital LP

Vestal Point Capital LP lowered its stake in Bristol-Myers Squibb (NYSE:BMY) by 50.0% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 250,000 shares of the biopharmaceutical company’s stock after selling 250,000 shares during the quarter. Bristol-Myers Squibb makes up about 1.0% of Vestal Point Capital LP’s holdings, making the stock its 27th biggest position. Vestal Point Capital LP’s holdings in Bristol-Myers Squibb were worth $12,935,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Atria Investments Inc lifted its stake in shares of Bristol-Myers Squibb by 13.3% during the first quarter. Atria Investments Inc now owns 138,838 shares of the biopharmaceutical company’s stock valued at $7,536,000 after buying an additional 16,270 shares during the period. PGGM Investments lifted its stake in shares of Bristol-Myers Squibb by 4.7% during the 1st quarter. PGGM Investments now owns 103,065 shares of the biopharmaceutical company’s stock worth $5,589,000 after purchasing an additional 4,656 shares during the period. Cetera Investment Advisers boosted its holdings in shares of Bristol-Myers Squibb by 262.1% during the first quarter. Cetera Investment Advisers now owns 574,683 shares of the biopharmaceutical company’s stock worth $31,165,000 after purchasing an additional 415,984 shares during the last quarter. Cetera Advisors LLC grew its position in shares of Bristol-Myers Squibb by 122.3% in the first quarter. Cetera Advisors LLC now owns 270,340 shares of the biopharmaceutical company’s stock valued at $14,661,000 after purchasing an additional 148,729 shares during the period. Finally, Pathway Financial Advisers LLC purchased a new position in Bristol-Myers Squibb during the first quarter worth about $60,000. Institutional investors and hedge funds own 76.41% of the company’s stock.

Bristol-Myers Squibb Price Performance

Shares of BMY stock opened at $59.27 on Friday. The firm has a fifty day simple moving average of $54.41 and a 200-day simple moving average of $48.12. Bristol-Myers Squibb has a twelve month low of $39.35 and a twelve month high of $61.08. The company has a debt-to-equity ratio of 2.83, a quick ratio of 1.09 and a current ratio of 1.24.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share for the quarter, beating 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 company had revenue of $11.89 billion during the quarter, compared to analysts’ expectations of $11.26 billion. During the same period in the prior year, the company posted $2.00 EPS. The firm’s revenue for the quarter was up 8.4% on a year-over-year basis. Equities analysts expect that Bristol-Myers Squibb will post 0.93 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 4th were given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.05%. The ex-dividend date of this dividend was Friday, October 4th. Bristol-Myers Squibb’s payout ratio is -66.85%.

Insider Activity

In related news, EVP Samit Hirawat bought 1,830 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were acquired at an average price of $54.67 per share, for a total transaction of $100,046.10. Following the purchase, 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 position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Phil M. Holzer sold 700 shares of the stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $55.62, for a total transaction of $38,934.00. Following the transaction, the senior vice president now directly owns 11,760 shares in the company, valued at $654,091.20. The trade was a 5.62 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.09% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on BMY shares. Daiwa Capital Markets upgraded Bristol-Myers Squibb from a “neutral” rating to an “outperform” rating in a report on Wednesday, November 13th. Leerink Partnrs raised shares of Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 12th. Barclays lifted their price target on shares of Bristol-Myers Squibb from $42.00 to $43.00 and gave the company an “underweight” rating in a report on Monday, October 7th. BMO Capital Markets upped their price objective on Bristol-Myers Squibb from $57.00 to $61.00 and gave the stock a “market perform” rating in a report on Tuesday, November 12th. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $50.00 price target on shares of Bristol-Myers Squibb in a research report on Friday, October 18th. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, two have issued a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Bristol-Myers Squibb presently has a consensus rating of “Hold” and an average price target 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.