Covenant Asset Management LLC Acquires 1,830 Shares of Bristol-Myers Squibb Co (BMY)

Covenant Asset Management LLC grew its holdings in Bristol-Myers Squibb Co (NYSE:BMY) by 11.0% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 18,406 shares of the biopharmaceutical company’s stock after purchasing an additional 1,830 shares during the quarter. Covenant Asset Management LLC’s holdings in Bristol-Myers Squibb were worth $878,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of BMY. Financial Gravity Wealth Inc. bought a new stake in shares of Bristol-Myers Squibb in the 1st quarter valued at about $26,000. Capital Financial Planning LLC bought a new stake in shares of Bristol-Myers Squibb in the 4th quarter valued at about $28,000. Well Done LLC bought a new stake in shares of Bristol-Myers Squibb in the 4th quarter valued at about $30,000. Trust Department MB Financial Bank N A bought a new stake in shares of Bristol-Myers Squibb in the 1st quarter valued at about $32,000. Finally, Riverview Trust Co bought a new stake in shares of Bristol-Myers Squibb in the 4th quarter valued at about $33,000. Institutional investors and hedge funds own 74.09% of the company’s stock.

Several equities research analysts have recently commented on the stock. BMO Capital Markets boosted their price target on shares of Bristol-Myers Squibb to $62.00 and gave the company an “outperform” rating in a report on Wednesday, March 20th. Bank of America reduced their price objective on shares of Bristol-Myers Squibb from $53.00 to $51.00 and set a “neutral” rating for the company in a research note on Tuesday, February 19th. Credit Suisse Group reiterated a “hold” rating and set a $59.00 price objective on shares of Bristol-Myers Squibb in a research note on Friday, February 15th. ValuEngine upgraded shares of Bristol-Myers Squibb from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 4th. Finally, Zacks Investment Research upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and set a $60.00 price objective for the company in a research note on Tuesday, March 5th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $56.89.

In other Bristol-Myers Squibb news, insider Karen Murphy Santiago sold 3,065 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $47.56, for a total transaction of $145,771.40. Following the sale, the insider now owns 3,066 shares of the company’s stock, valued at approximately $145,818.96. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Theodore R. Samuels II bought 5,000 shares of the company’s stock in a transaction on Thursday, May 16th. The shares were bought at an average cost of $47.29 per share, for a total transaction of $236,450.00. Following the transaction, the director now owns 27,000 shares in the company, valued at approximately $1,276,830. The disclosure for this purchase can be found here. 0.12% of the stock is currently owned by insiders.

NYSE BMY opened at $46.31 on Tuesday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.93 and a quick ratio of 1.79. The company has a market cap of $76.63 billion, a P/E ratio of 11.64, a PEG ratio of 2.19 and a beta of 0.77. Bristol-Myers Squibb Co has a 52 week low of $44.30 and a 52 week high of $63.69.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings data on Thursday, April 25th. The biopharmaceutical company reported $1.10 EPS for the quarter, topping the consensus estimate of $1.09 by $0.01. The firm had revenue of $5.92 billion during the quarter, compared to analyst estimates of $5.72 billion. Bristol-Myers Squibb had a net margin of 22.23% and a return on equity of 48.72%. Bristol-Myers Squibb’s revenue was up 14.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.94 EPS. Research analysts forecast that Bristol-Myers Squibb Co will post 4.18 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Friday, April 5th were given a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 3.54%. The ex-dividend date of this dividend was Thursday, April 4th. Bristol-Myers Squibb’s dividend payout ratio is presently 41.21%.

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Bristol-Myers Squibb Company 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.

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

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