Vestal Point Capital LP Sells 250,000 Shares of Bristol-Myers Squibb (NYSE:BMY)

Vestal Point Capital LP lessened its stake in shares of Bristol-Myers Squibb (NYSE:BMY - Free Report) by 50.0% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 250,000 shares of the biopharmaceutical company's stock after selling 250,000 shares during the quarter. Bristol-Myers Squibb comprises approximately 1.0% of Vestal Point Capital LP's holdings, making the stock its 27th largest position. Vestal Point Capital LP's holdings in Bristol-Myers Squibb were worth $12,935,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. FMR LLC grew its position in shares of Bristol-Myers Squibb by 10.5% in the third quarter. FMR LLC now owns 44,940,609 shares of the biopharmaceutical company's stock valued at $2,325,227,000 after purchasing an additional 4,275,787 shares during the last quarter. Federated Hermes Inc. boosted its stake in Bristol-Myers Squibb by 86.3% during the 2nd quarter. Federated Hermes Inc. now owns 7,546,311 shares of the biopharmaceutical company's stock valued at $313,398,000 after purchasing an additional 3,495,704 shares during the period. Jennison Associates LLC grew its holdings in Bristol-Myers Squibb by 420.1% in the 3rd quarter. Jennison Associates LLC now owns 4,241,255 shares of the biopharmaceutical company's stock valued at $219,443,000 after buying an additional 3,425,789 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Bristol-Myers Squibb by 18.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 19,074,823 shares of the biopharmaceutical company's stock worth $986,931,000 after buying an additional 3,002,418 shares during the period. Finally, State of Michigan Retirement System lifted its holdings in shares of Bristol-Myers Squibb by 147.7% during the second quarter. State of Michigan Retirement System now owns 4,767,133 shares of the biopharmaceutical company's stock worth $197,979,000 after buying an additional 2,842,400 shares during the last quarter. Institutional investors and hedge funds own 76.41% of the company's stock.

Bristol-Myers Squibb Price Performance

Shares of Bristol-Myers Squibb stock traded down $0.05 on Friday, reaching $59.22. 4,581,564 shares of the stock were exchanged, compared to its average volume of 14,259,556. The firm's 50 day moving average is $54.41 and its 200-day moving average is $48.12. The firm has a market cap of $120.11 billion, a PE ratio of -16.50, a P/E/G ratio of 15.90 and a beta of 0.44. The company has a debt-to-equity ratio of 2.83, a quick ratio of 1.09 and a current ratio of 1.24. Bristol-Myers Squibb has a one year low of $39.35 and a one year high of $61.08.

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last announced its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share for the quarter, topping the consensus estimate of $1.49 by $0.31. The business had revenue of $11.89 billion during the quarter, compared to the consensus estimate of $11.26 billion. Bristol-Myers Squibb had a positive return on equity of 11.94% and a negative net margin of 15.30%. Bristol-Myers Squibb's revenue for the quarter was up 8.4% on a year-over-year basis. During the same period in the prior year, the company earned $2.00 EPS. As a group, analysts anticipate that Bristol-Myers Squibb will post 0.93 EPS for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 4th were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Friday, October 4th. This represents a $2.40 annualized dividend and a yield of 4.05%. Bristol-Myers Squibb's dividend payout ratio is presently -66.85%.

Insider Buying and Selling at Bristol-Myers Squibb

In other news, SVP Phil M. Holzer sold 700 shares of the company's stock in a transaction on Monday, November 4th. The shares were sold at an average price of $55.62, for a total value of $38,934.00. Following the sale, the senior vice president now directly owns 11,760 shares of the company's stock, valued at approximately $654,091.20. This represents a 5.62 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Samit Hirawat bought 1,830 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were purchased at an average cost of $54.67 per share, with a total value of $100,046.10. Following the purchase, the executive vice president now directly owns 62,109 shares of the company's stock, valued at $3,395,499.03. The trade was a 3.04 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.09% of the company's stock.

Wall Street Analyst Weigh In

BMY has been the subject of several research reports. Jefferies Financial Group increased their target price on shares of Bristol-Myers Squibb from $49.00 to $51.00 and gave the company a "hold" rating in a research note on Wednesday, August 28th. Wolfe Research started coverage on Bristol-Myers Squibb in a research report on Friday, November 15th. They issued a "peer perform" rating for the company. UBS Group boosted their price objective on Bristol-Myers Squibb from $50.00 to $54.00 and gave the company a "neutral" rating in a research report on Wednesday, October 9th. Citigroup raised their target price on Bristol-Myers Squibb from $55.00 to $60.00 and gave the stock a "neutral" rating in a research report on Tuesday, November 12th. Finally, Leerink Partners upgraded shares of Bristol-Myers Squibb from a "market perform" rating to an "outperform" rating and increased their price objective for the company from $55.00 to $73.00 in a research note on Tuesday, November 12th. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating, two have issued a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $54.07.

About Bristol-Myers Squibb

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.