DRW Securities LLC Cuts Holdings in Bristol-Myers Squibb (NYSE:BMY)

DRW Securities LLC reduced its position in shares of Bristol-Myers Squibb (NYSE:BMY - Free Report) by 89.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,056 shares of the biopharmaceutical company's stock after selling 44,944 shares during the period. DRW Securities LLC's holdings in Bristol-Myers Squibb were worth $285,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in BMY. Fairway Wealth LLC purchased a new stake in shares of Bristol-Myers Squibb during the 4th quarter valued at $28,000. Comprehensive Financial Planning Inc. PA bought a new stake in Bristol-Myers Squibb in the fourth quarter worth about $34,000. Westend Capital Management LLC bought a new position in shares of Bristol-Myers Squibb during the 4th quarter valued at approximately $38,000. Tacita Capital Inc bought a new position in Bristol-Myers Squibb during the fourth quarter valued at $39,000. Finally, M Holdings Securities Inc. purchased a new position in shares of Bristol-Myers Squibb during the 4th quarter valued at $39,000. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Bristol-Myers Squibb

In related news, EVP Samit Hirawat bought 1,823 shares of the company's stock in a transaction on Friday, February 14th. The shares were acquired at an average cost 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 of the company's stock, valued at $3,506,030.88. The trade was a 2.94 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.09% of the stock is currently owned by corporate insiders.

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Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Cantor Fitzgerald boosted their price target on shares of Bristol-Myers Squibb from $50.00 to $55.00 and gave the company a "neutral" rating in a research report on Tuesday, February 4th. Wells Fargo & Company increased their target price on Bristol-Myers Squibb from $60.00 to $62.00 and gave the stock an "equal weight" rating in a research report on Friday, February 7th. The Goldman Sachs Group reiterated a "neutral" rating and issued a $55.00 price target (down from $67.00) on shares of Bristol-Myers Squibb in a research report on Tuesday, April 8th. Truist Financial raised their target price on Bristol-Myers Squibb from $62.00 to $65.00 and gave the stock a "buy" rating in a research note on Wednesday, January 8th. Finally, UBS Group decreased their price target on Bristol-Myers Squibb from $60.00 to $54.00 and set a "neutral" rating on the stock in a research report on Friday. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating, four have given a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $57.67.

Bristol-Myers Squibb Trading Down 2.7 %

BMY traded down $1.36 on Tuesday, hitting $49.98. 10,993,431 shares of the company were exchanged, compared to its average volume of 12,940,627. The company has a debt-to-equity ratio of 2.90, a quick ratio of 1.15 and a current ratio of 1.25. The firm has a fifty day simple moving average of $57.54 and a two-hundred day simple moving average of $56.78. The stock has a market capitalization of $101.70 billion, a PE ratio of -11.31, a price-to-earnings-growth ratio of 2.07 and a beta of 0.41. Bristol-Myers Squibb has a 12 month low of $39.35 and a 12 month high of $63.33.

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share for the quarter, beating 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%. Sell-side analysts expect that Bristol-Myers Squibb will post 6.74 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Friday, April 4th will be issued a $0.62 dividend. The ex-dividend date of this dividend is Friday, April 4th. This represents a $2.48 annualized dividend and a yield of 4.96%. Bristol-Myers Squibb's dividend payout ratio (DPR) is presently -56.11%.

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.