Sector Gamma AS Sells 235,834 Shares of Bristol-Myers Squibb (NYSE:BMY)

Sector Gamma AS decreased its stake in Bristol-Myers Squibb (NYSE:BMY - Free Report) by 39.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 366,166 shares of the biopharmaceutical company's stock after selling 235,834 shares during the quarter. Bristol-Myers Squibb makes up about 7.1% of Sector Gamma AS's holdings, making the stock its 3rd biggest position. Sector Gamma AS's holdings in Bristol-Myers Squibb were worth $20,710,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of BMY. Swedbank AB grew its position in shares of Bristol-Myers Squibb by 0.9% in the 3rd quarter. Swedbank AB now owns 3,139,552 shares of the biopharmaceutical company's stock valued at $162,440,000 after purchasing an additional 28,427 shares during the period. United Bank boosted its holdings in Bristol-Myers Squibb by 2.7% in the third quarter. United Bank now owns 17,322 shares of the biopharmaceutical company's stock valued at $896,000 after acquiring an additional 456 shares during the last quarter. Thrivent Financial for Lutherans increased its stake in shares of Bristol-Myers Squibb by 4.9% in the 3rd quarter. Thrivent Financial for Lutherans now owns 116,801 shares of the biopharmaceutical company's stock valued at $6,044,000 after acquiring an additional 5,407 shares in the last quarter. Pathstone Holdings LLC lifted its position in Bristol-Myers Squibb by 2.2% in the 3rd quarter. Pathstone Holdings LLC now owns 188,950 shares of the biopharmaceutical company's stock valued at $9,776,000 after acquiring an additional 4,062 shares in the last quarter. Finally, Prospera Financial Services Inc increased its stake in shares of Bristol-Myers Squibb by 40.0% during the 3rd quarter. Prospera Financial Services Inc now owns 73,255 shares of the biopharmaceutical company's stock worth $3,791,000 after purchasing an additional 20,916 shares during the last quarter. 76.41% of the stock is owned by institutional investors and hedge funds.

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Bristol-Myers Squibb Price Performance

NYSE:BMY traded down $1.83 during midday trading on Tuesday, hitting $59.22. The company had a trading volume of 10,965,694 shares, compared to its average volume of 12,175,773. The company has a quick ratio of 1.15, a current ratio of 1.25 and a debt-to-equity ratio of 2.90. The company has a market capitalization of $120.18 billion, a PE ratio of -13.40, a P/E/G ratio of 2.07 and a beta of 0.43. The stock's fifty day moving average price is $58.36 and its 200-day moving average price is $56.13. Bristol-Myers Squibb has a 52-week low of $39.35 and a 52-week high of $63.33.

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last issued its earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.47 by $0.20. Bristol-Myers Squibb had a negative net margin of 18.53% and a positive return on equity of 13.93%. As a group, research analysts expect that Bristol-Myers Squibb will post 6.74 earnings per share for the current year.

Bristol-Myers Squibb Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Friday, April 4th will be paid a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.19%. The ex-dividend date of this dividend is Friday, April 4th. Bristol-Myers Squibb's dividend payout ratio (DPR) is currently -56.11%.

Insiders Place Their Bets

In related news, EVP Samit Hirawat purchased 1,823 shares of the business's stock in a transaction that occurred on Friday, February 14th. The stock was purchased at an average price of $54.84 per share, with a total value of $99,973.32. Following the completion of the acquisition, the executive vice president now owns 63,932 shares in the company, valued at $3,506,030.88. This trade represents a 2.94 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. 0.09% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Cantor Fitzgerald boosted their target price on Bristol-Myers Squibb from $50.00 to $55.00 and gave the company a "neutral" rating in a research note on Tuesday, February 4th. Bank of America reissued a "neutral" rating and issued a $63.00 price objective on shares of Bristol-Myers Squibb in a research note on Tuesday, December 10th. Jefferies Financial Group upgraded Bristol-Myers Squibb from a "hold" rating to a "buy" rating and upped their price objective for the stock from $63.00 to $70.00 in a research report on Monday, December 16th. Truist Financial increased their price target on shares of Bristol-Myers Squibb from $62.00 to $65.00 and gave the company a "buy" rating in a research note on Wednesday, January 8th. Finally, Wells Fargo & Company boosted their target price on shares of Bristol-Myers Squibb from $60.00 to $62.00 and gave the stock an "equal weight" rating in a research note on Friday, February 7th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, four have assigned a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $57.86.

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.