First Foundation Advisors Cut Bristol Myers Squibb Co (BMY) Stake as Share Value Declined; As Mylan N V (MYL) Market Value Declined, Greenlight Capital Boosted Holding

January 13, 2018 - By Michael Collier

First Foundation Advisors decreased its stake in Bristol Myers Squibb Co (BMY) by 36.74% based on its latest 2017Q3 regulatory filing with the SEC. First Foundation Advisors sold 17,706 shares as the company’s stock declined 1.04% while stock markets rallied. The hedge fund held 30,482 shares of the major pharmaceuticals company at the end of 2017Q3, valued at $1.94M, down from 48,188 at the end of the previous reported quarter. First Foundation Advisors who had been investing in Bristol Myers Squibb Co for a number of months, seems to be less bullish one the $102.80B market cap company. The stock increased 0.54% or $0.34 during the last trading session, reaching $62.81. About 5.49 million shares traded or 2.16% up from the average. Bristol-Myers Squibb Company (NYSE:BMY) has declined 23.19% since January 13, 2017 and is downtrending. It has underperformed by 39.89% the S&P500.

David Einhorn increased its stake in Mylan N V (MYL) by 0.4% based on its latest 2017Q3 regulatory filing with the SEC. Greenlight Capital Inc bought 42,600 shares as the company’s stock declined 9.77% while stock markets rallied. The hedge fund run by David Einhorn held 10.74M shares of the major pharmaceuticals company at the end of 2017Q3, valued at $337.05M, up from 10.70M at the end of the previous reported quarter. Greenlight Capital Inc who had been investing in Mylan N V for a number of months, seems to be bullish on the $25.16B market cap company. The stock increased 0.41% or $0.19 during the last trading session, reaching $46.9. About 5.82 million shares traded. Mylan N.V. (NASDAQ:MYL) has declined 7.73% since January 13, 2017 and is downtrending. It has underperformed by 24.43% the S&P500.

Among 21 analysts covering Mylan Inc. (NASDAQ:MYL), 13 have Buy rating, 0 Sell and 8 Hold. Therefore 62% are positive. Mylan Inc. had 60 analyst reports since July 27, 2015 according to SRatingsIntel. The stock of Mylan N.V. (NASDAQ:MYL) earned “Buy” rating by BMO Capital Markets on Thursday, July 13. The stock has “Sector Perform” rating by RBC Capital Markets on Tuesday, September 6. On Wednesday, November 18 the stock rating was reinitiated by JP Morgan with “Overweight”. The firm has “Buy” rating given on Thursday, January 4 by Citigroup. The firm has “Strong Buy” rating by Raymond James given on Monday, October 10. As per Monday, October 30, the company rating was maintained by BMO Capital Markets. The firm has “Overweight” rating given on Monday, May 22 by Barclays Capital. The firm earned “Buy” rating on Wednesday, August 19 by BTIG Research. UBS maintained it with “Buy” rating and $46.0 target in Monday, December 4 report. BMO Capital Markets maintained it with “Buy” rating and $45.0 target in Friday, September 29 report.

Greenlight Capital Inc, which manages about $11.41B and $5.86B US Long portfolio, decreased its stake in Freds Inc (NASDAQ:FRED) by 99,097 shares to 1.40 million shares, valued at $9.02M in 2017Q3, according to the filing. It also reduced its holding in Chemours Co by 2.12 million shares in the quarter, leaving it with 1.49 million shares, and cut its stake in Amerco (NASDAQ:UHAL).

Investors sentiment decreased to 0.33 in Q3 2017. Its down 1.00, from 1.33 in 2017Q2. It is negative, as 3 investors sold MYL shares while 0 reduced holdings. 1 funds opened positions while 0 raised stakes. 155,019 shares or 7.99% less from 168,486 shares in 2017Q2 were reported. Gulf Bancorp (Uk) Limited holds 0.06% of its portfolio in Mylan N.V. (NASDAQ:MYL) for 139,930 shares. Vantage Inv Advsr Limited Liability Corporation owns 712 shares for 0.01% of their portfolio.

Among 19 analysts covering Bristol-Myers Squibb Company (NYSE:BMY), 6 have Buy rating, 3 Sell and 10 Hold. Therefore 32% are positive. Bristol-Myers Squibb Company had 69 analyst reports since July 28, 2015 according to SRatingsIntel. The stock of Bristol-Myers Squibb Company (NYSE:BMY) earned “Hold” rating by Deutsche Bank on Monday, July 17. The firm earned “Buy” rating on Wednesday, December 2 by Guggenheim. The firm earned “Hold” rating on Thursday, July 14 by Jefferies. Jefferies maintained Bristol-Myers Squibb Company (NYSE:BMY) rating on Friday, September 15. Jefferies has “Buy” rating and $72 target. The firm has “Hold” rating by Cowen & Co given on Monday, July 10. The stock of Bristol-Myers Squibb Company (NYSE:BMY) has “Buy” rating given on Monday, December 19 by Jefferies. SunTrust maintained Bristol-Myers Squibb Company (NYSE:BMY) on Monday, October 16 with “Hold” rating. As per Friday, August 19, the company rating was maintained by UBS. UBS upgraded Bristol-Myers Squibb Company (NYSE:BMY) rating on Tuesday, September 29. UBS has “Buy” rating and $75 target. As per Sunday, July 23, the company rating was maintained by BMO Capital Markets.

First Foundation Advisors, which manages about $3.20 billion and $1.76B US Long portfolio, upped its stake in Alibaba Group Holding Inc (NYSE:BABA) by 9,700 shares to 47,066 shares, valued at $8.13M in 2017Q3, according to the filing. It also increased its holding in Berkshire Hathaway Inc Cl B (BRKB) by 40,505 shares in the quarter, for a total of 308,094 shares, and has risen its stake in Macerich Co (NYSE:MAC).

Since September 6, 2017, it had 1 insider purchase, and 2 insider sales for $646,385 activity. Caldarella Joseph C also sold $560,400 worth of Bristol-Myers Squibb Company (NYSE:BMY) shares. 5,300 Bristol-Myers Squibb Company (NYSE:BMY) shares with value of $335,172 were sold by Lynch Thomas J. Jr..

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