LSV Asset Management Sells 226,073 Shares of Bristol-Myers Squibb (NYSE:BMY)

LSV Asset Management lowered its stake in Bristol-Myers Squibb (NYSE:BMY - Free Report) by 2.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,319,218 shares of the biopharmaceutical company's stock after selling 226,073 shares during the quarter. Bristol-Myers Squibb comprises about 1.1% of LSV Asset Management's portfolio, making the stock its 11th biggest holding. LSV Asset Management owned 0.41% of Bristol-Myers Squibb worth $470,535,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Fairway Wealth LLC acquired a new position in shares of Bristol-Myers Squibb in the 4th quarter valued at $28,000. Comprehensive Financial Planning Inc. PA acquired a new position in shares of Bristol-Myers Squibb in the fourth quarter worth about $34,000. Westend Capital Management LLC purchased a new position in shares of Bristol-Myers Squibb in the fourth quarter worth approximately $38,000. Tacita Capital Inc purchased a new stake in shares of Bristol-Myers Squibb in the 4th quarter valued at approximately $39,000. Finally, M Holdings Securities Inc. acquired a new position in Bristol-Myers Squibb in the 4th quarter worth approximately $39,000. 76.41% of the stock is currently owned by institutional investors.

Bristol-Myers Squibb Stock Performance

Shares of Bristol-Myers Squibb stock traded down $1.61 during trading on Tuesday, reaching $49.73. The company's stock had a trading volume of 7,239,162 shares, compared to its average volume of 12,910,940. The firm has a market cap of $101.19 billion, a price-to-earnings ratio of -11.25, a price-to-earnings-growth ratio of 2.07 and a beta of 0.41. The business's fifty day moving average price is $57.54 and its 200-day moving average price is $56.78. The company has a debt-to-equity ratio of 2.90, a quick ratio of 1.15 and a current ratio of 1.25. Bristol-Myers Squibb has a one year low of $39.35 and a one year high of $63.33.

Remove Ads

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last released its earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 EPS 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%. As a group, equities research analysts predict that Bristol-Myers Squibb will post 6.74 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Friday, April 4th will be paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.99%. The ex-dividend date is Friday, April 4th. Bristol-Myers Squibb's dividend payout ratio is -56.11%.

Insider Activity

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

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. The Goldman Sachs Group restated a "neutral" rating and issued a $55.00 target price (down previously from $67.00) on shares of Bristol-Myers Squibb in a report on Tuesday, April 8th. Jefferies Financial Group raised Bristol-Myers Squibb from a "hold" rating to a "buy" rating and lifted their target price for the company from $63.00 to $70.00 in a research note on Monday, December 16th. Cantor Fitzgerald increased their price target on shares of Bristol-Myers Squibb from $50.00 to $55.00 and gave the stock a "neutral" rating in a research report on Tuesday, February 4th. Truist Financial boosted their price objective on shares of Bristol-Myers Squibb from $62.00 to $65.00 and gave the company a "buy" rating in a research report on Wednesday, January 8th. Finally, UBS Group decreased their target price on shares of Bristol-Myers Squibb from $60.00 to $54.00 and set a "neutral" rating for the company in a research note on Friday. Two 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 company. Based on data from MarketBeat.com, Bristol-Myers Squibb currently has a consensus rating of "Hold" and a consensus price target of $57.67.

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.