Intech Investment Management LLC Cuts Stock Holdings in Bristol-Myers Squibb (NYSE:BMY)

Intech Investment Management LLC lowered its stake in Bristol-Myers Squibb (NYSE:BMY - Free Report) by 55.9% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 171,886 shares of the biopharmaceutical company's stock after selling 217,624 shares during the quarter. Intech Investment Management LLC's holdings in Bristol-Myers Squibb were worth $9,722,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in BMY. Swedbank AB lifted its holdings in Bristol-Myers Squibb by 0.9% in the 3rd quarter. Swedbank AB now owns 3,139,552 shares of the biopharmaceutical company's stock worth $162,440,000 after purchasing an additional 28,427 shares in the last quarter. Pettinga Financial Advisors LLC grew its stake in Bristol-Myers Squibb by 8.7% during the third quarter. Pettinga Financial Advisors LLC now owns 11,108 shares of the biopharmaceutical company's stock valued at $575,000 after acquiring an additional 886 shares in the last quarter. United Bank grew its stake in Bristol-Myers Squibb by 2.7% during 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 in the last quarter. Natixis Advisors LLC grew its stake in Bristol-Myers Squibb by 34.9% during the third quarter. Natixis Advisors LLC now owns 446,364 shares of the biopharmaceutical company's stock valued at $23,095,000 after acquiring an additional 115,361 shares in the last quarter. Finally, Thrivent Financial for Lutherans grew its stake in Bristol-Myers Squibb by 4.9% during the third 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. Institutional investors own 76.41% of the company's stock.

Remove Ads

Insider Activity at Bristol-Myers Squibb

In related news, EVP Samit Hirawat acquired 1,823 shares of the firm's stock in a transaction that occurred on Friday, February 14th. The stock was bought at an average price of $54.84 per share, for a total transaction of $99,973.32. Following the acquisition, the executive vice president now directly owns 63,932 shares of the company's stock, valued at $3,506,030.88. This represents a 2.94 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.09% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Bank of America reaffirmed a "neutral" rating and set a $63.00 target price on shares of Bristol-Myers Squibb in a research note on Tuesday, December 10th. Wells Fargo & Company raised their target price on shares of Bristol-Myers Squibb from $60.00 to $62.00 and gave the company an "equal weight" rating in a research note on Friday, February 7th. Jefferies Financial Group raised shares of Bristol-Myers Squibb from a "hold" rating to a "buy" rating and raised their target price for the company from $63.00 to $70.00 in a research note on Monday, December 16th. Citigroup raised their target price on shares of Bristol-Myers Squibb from $60.00 to $65.00 and gave the company a "neutral" rating in a research note on Tuesday, January 28th. Finally, Truist Financial lifted their price objective on shares of Bristol-Myers Squibb from $62.00 to $65.00 and gave the stock a "buy" rating in a research note on Wednesday, January 8th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, four have issued a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $57.86.

Bristol-Myers Squibb Trading Up 1.1 %

Shares of Bristol-Myers Squibb stock traded up $0.64 during trading on Friday, hitting $61.06. The stock had a trading volume of 25,864,960 shares, compared to its average volume of 12,180,118. The firm's fifty day simple moving average is $58.17 and its 200-day simple moving average is $55.89. The stock has a market cap of $123.92 billion, a PE ratio of -13.82, a PEG ratio of 2.07 and a beta of 0.43. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.25 and a quick ratio of 1.15. 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 released 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, sell-side analysts expect that Bristol-Myers Squibb will post 6.74 EPS for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

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 issued a dividend of $0.62 per share. The ex-dividend date is Friday, April 4th. This represents a $2.48 dividend on an annualized basis and a yield of 4.06%. Bristol-Myers Squibb's payout ratio is -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.