Covington Capital Management Sells 20,025 Shares of Bristol-Myers Squibb Co (NYSE:BMY)

Covington Capital Management trimmed its position in shares of Bristol-Myers Squibb Co (NYSE:BMY) by 13.6% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 126,950 shares of the biopharmaceutical company’s stock after selling 20,025 shares during the period. Covington Capital Management’s holdings in Bristol-Myers Squibb were worth $6,438,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in BMY. Psagot Investment House Ltd. raised its position in shares of Bristol-Myers Squibb by 4.6% during the 3rd quarter. Psagot Investment House Ltd. now owns 4,038 shares of the biopharmaceutical company’s stock worth $205,000 after purchasing an additional 178 shares during the last quarter. Weaver Consulting Group raised its position in shares of Bristol-Myers Squibb by 3.5% during the 3rd quarter. Weaver Consulting Group now owns 5,906 shares of the biopharmaceutical company’s stock worth $263,000 after purchasing an additional 200 shares during the last quarter. First Personal Financial Services raised its position in shares of Bristol-Myers Squibb by 7.7% during the 3rd quarter. First Personal Financial Services now owns 2,831 shares of the biopharmaceutical company’s stock worth $144,000 after purchasing an additional 202 shares during the last quarter. Thomasville National Bank raised its position in shares of Bristol-Myers Squibb by 1.1% during the 3rd quarter. Thomasville National Bank now owns 18,815 shares of the biopharmaceutical company’s stock worth $954,000 after purchasing an additional 210 shares during the last quarter. Finally, Taylor Cottrill Erickson & Associates Inc. raised its position in shares of Bristol-Myers Squibb by 2.4% during the 3rd quarter. Taylor Cottrill Erickson & Associates Inc. now owns 9,555 shares of the biopharmaceutical company’s stock worth $485,000 after purchasing an additional 220 shares during the last quarter. Institutional investors own 83.01% of the company’s stock.

Bristol-Myers Squibb stock traded up $1.15 during trading on Wednesday, reaching $58.90. 22,257,193 shares of the company’s stock were exchanged, compared to its average volume of 16,163,534. Bristol-Myers Squibb Co has a 52-week low of $42.48 and a 52-week high of $59.17. The company has a debt-to-equity ratio of 1.37, a quick ratio of 3.72 and a current ratio of 3.83. The firm has a market cap of $92.77 billion, a price-to-earnings ratio of 14.80, a PEG ratio of 1.32 and a beta of 0.70. The company’s 50-day moving average is $56.33 and its two-hundred day moving average is $49.56.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported $1.17 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.11. Bristol-Myers Squibb had a net margin of 23.53% and a return on equity of 45.49%. The firm had revenue of $6.01 billion for the quarter, compared to analyst estimates of $5.89 billion. During the same quarter in the previous year, the business posted $1.09 EPS. The firm’s revenue was up 5.6% compared to the same quarter last year. Analysts anticipate that Bristol-Myers Squibb Co will post 4.38 EPS for the current year.

Several research analysts recently issued reports on BMY shares. TheStreet upgraded Bristol-Myers Squibb from a “c+” rating to a “b-” rating in a research report on Wednesday, September 18th. Wolfe Research set a $66.00 target price on shares of Bristol-Myers Squibb and gave the stock a “buy” rating in a research note on Friday, November 1st. ValuEngine raised shares of Bristol-Myers Squibb from a “strong sell” rating to a “sell” rating in a research note on Tuesday, November 19th. Gabelli initiated coverage on shares of Bristol-Myers Squibb in a research note on Wednesday, November 27th. They issued a “buy” rating for the company. Finally, Mizuho initiated coverage on shares of Bristol-Myers Squibb in a research note on Monday, November 25th. They issued a “buy” rating for the company. One research analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $57.95.

In related news, insider Louis S. Schmukler sold 25,000 shares of the stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $56.56, for a total transaction of $1,414,000.00. Following the sale, the insider now owns 31,963 shares in the company, valued at $1,807,827.28. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP John E. Elicker sold 15,000 shares of the stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $56.66, for a total transaction of $849,900.00. Following the sale, the senior vice president now owns 74,471 shares in the company, valued at approximately $4,219,526.86. The disclosure for this sale can be found here. Corporate insiders own 0.13% of the company’s stock.

Bristol-Myers Squibb Profile

Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. The company offers drugs in oncology, immunoscience, cardiovascular, and fibrotic diseases. The company's products include Opdivo, a biological product for anti-cancer indications; Eliquis, an oral inhibitor targeted at stroke prevention in adult patients with non-valvular atrial fibrillation, and the prevention and treatment of venous thromboembolic disorders; and Orencia, a biological product for adult patients with moderately to severely active RA and prostate-specific antigen, as well as reducing signs and symptoms in certain pediatric patients with moderately to severely active polyarticular juvenile idiopathic arthritis.

Further Reading: Closed-End Mutual Funds

Institutional Ownership by Quarter for Bristol-Myers Squibb (NYSE:BMY)

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