Clark Estates Inc. NY Cuts Holdings in Bristol-Myers Squibb (NYSE:BMY)

Clark Estates Inc. NY reduced its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 7.5% in the third quarter, according to its most recent filing with the SEC. The fund owned 53,400 shares of the biopharmaceutical company’s stock after selling 4,300 shares during the period. Clark Estates Inc. NY’s holdings in Bristol-Myers Squibb were worth $2,763,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Patriot Financial Group Insurance Agency LLC boosted its stake in shares of Bristol-Myers Squibb by 3.8% in 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. Sheaff Brock Investment Advisors LLC grew its stake in shares of Bristol-Myers Squibb by 34.3% during the third quarter. Sheaff Brock Investment Advisors LLC now owns 44,546 shares of the biopharmaceutical company’s stock valued at $2,305,000 after buying an additional 11,387 shares during the last quarter. Nwam LLC purchased a new position in shares of Bristol-Myers Squibb in the third quarter worth about $927,000. Graypoint LLC lifted its stake in shares of Bristol-Myers Squibb by 29.4% in the 3rd quarter. Graypoint LLC now owns 11,293 shares of the biopharmaceutical company’s stock valued at $584,000 after acquiring an additional 2,563 shares during the last quarter. Finally, Xponance Inc. boosted its holdings in Bristol-Myers Squibb by 8.8% during the 2nd quarter. Xponance Inc. now owns 317,381 shares of the biopharmaceutical company’s stock valued at $13,181,000 after acquiring an additional 25,543 shares during the period. Institutional investors own 76.41% of the company’s stock.

Analyst Ratings Changes

BMY has been the subject of a number of analyst reports. Wolfe Research started coverage on Bristol-Myers Squibb in a research note on Friday, November 15th. They set a “peer perform” rating for the company. Morgan Stanley upped their price objective on shares of Bristol-Myers Squibb from $36.00 to $39.00 and gave the company an “underweight” rating in a research note on Tuesday, November 12th. TD Cowen raised their target price on Bristol-Myers Squibb from $53.00 to $59.00 and gave the stock a “hold” rating in a research note on Monday, October 7th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $50.00 price target on shares of Bristol-Myers Squibb in a research report on Friday, October 18th. Finally, Leerink Partners raised Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $55.00 to $73.00 in a research note on Tuesday, November 12th. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, two have assigned a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $54.07.

Insider Transactions at Bristol-Myers Squibb

In other Bristol-Myers Squibb news, SVP Phil M. Holzer sold 700 shares of Bristol-Myers Squibb 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 completion of the sale, the senior vice president now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Samit Hirawat purchased 1,830 shares of the stock in a transaction dated Friday, November 1st. The shares were acquired at an average cost of $54.67 per share, for a total transaction of $100,046.10. Following the completion of the acquisition, the executive vice president now owns 62,109 shares of the company’s stock, valued at approximately $3,395,499.03. This 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 insiders.

Bristol-Myers Squibb Price Performance

Shares of Bristol-Myers Squibb stock opened at $58.73 on Wednesday. Bristol-Myers Squibb has a 1 year low of $39.35 and a 1 year high of $61.08. The company has a current ratio of 1.24, a quick ratio of 1.09 and a debt-to-equity ratio of 2.83. The company has a 50-day moving average of $54.02 and a 200 day moving average of $47.97.

Bristol-Myers Squibb (NYSE:BMY) last released its earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.49 by $0.31. The firm had revenue of $11.89 billion during the quarter, compared to analyst estimates of $11.26 billion. Bristol-Myers Squibb had a negative net margin of 15.30% and a positive return on equity of 11.94%. The business’s revenue was up 8.4% on a year-over-year basis. During the same period last year, the business earned $2.00 earnings per share. As a group, analysts anticipate that Bristol-Myers Squibb will post 0.93 EPS for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 4th were issued a dividend of $0.60 per share. The ex-dividend date of this dividend was Friday, October 4th. This represents a $2.40 annualized dividend and a dividend yield of 4.09%. Bristol-Myers Squibb’s payout ratio is presently -66.85%.

Bristol-Myers Squibb Company 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.