Sei Investments Co. Sells 177,308 Shares of Bristol-Myers Squibb (NYSE:BMY)

Sei Investments Co. trimmed its stake in Bristol-Myers Squibb (NYSE:BMY - Free Report) by 21.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 667,159 shares of the biopharmaceutical company's stock after selling 177,308 shares during the period. Sei Investments Co.'s holdings in Bristol-Myers Squibb were worth $37,736,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. Raymond James Financial Inc. purchased a new position in shares of Bristol-Myers Squibb during the 4th quarter worth approximately $257,618,000. FMR LLC grew its stake in Bristol-Myers Squibb by 10.5% in the third quarter. FMR LLC now owns 44,940,609 shares of the biopharmaceutical company's stock worth $2,325,227,000 after purchasing an additional 4,275,787 shares during the period. Janus Henderson Group PLC grew its stake in Bristol-Myers Squibb by 695.1% in the third quarter. Janus Henderson Group PLC now owns 3,554,758 shares of the biopharmaceutical company's stock worth $183,971,000 after purchasing an additional 3,107,672 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Bristol-Myers Squibb by 18.7% during the third 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 valued at $986,931,000 after buying an additional 3,002,418 shares during the period. Finally, National Bank of Canada FI boosted its holdings in shares of Bristol-Myers Squibb by 194.7% during the 3rd quarter. National Bank of Canada FI now owns 2,506,741 shares of the biopharmaceutical company's stock valued at $129,698,000 after buying an additional 1,656,141 shares in the last quarter. Institutional investors own 76.41% of the company's stock.

Remove Ads

Insider Buying and Selling

In related news, EVP Samit Hirawat bought 1,823 shares of the business's stock in a transaction that occurred on Friday, February 14th. The stock was bought 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 approximately $3,506,030.88. The trade was a 2.94 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.09% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on BMY shares. Wells Fargo & Company increased their price target 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. Cantor Fitzgerald lifted their target price on shares of Bristol-Myers Squibb from $50.00 to $55.00 and gave the company a "neutral" rating in a report on Tuesday, February 4th. Jefferies Financial Group upgraded Bristol-Myers Squibb from a "hold" rating to a "buy" rating and upped their price target for the stock from $63.00 to $70.00 in a research note on Monday, December 16th. Bank of America restated a "neutral" rating and set a $63.00 price objective on shares of Bristol-Myers Squibb in a research note on Tuesday, December 10th. Finally, Truist Financial boosted their price target 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. Two research 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's stock. Based on data from MarketBeat, Bristol-Myers Squibb has an average rating of "Hold" and a consensus price target of $57.86.

Bristol-Myers Squibb Stock Performance

Shares of NYSE BMY traded down $0.03 during trading on Thursday, hitting $59.18. The company had a trading volume of 2,370,607 shares, compared to its average volume of 12,137,733. The stock has a 50 day simple moving average of $58.42 and a 200 day simple moving average of $56.15. The firm has a market capitalization of $120.09 billion, a P/E ratio of -13.39, a price-to-earnings-growth ratio of 2.07 and a beta of 0.43. 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 12 month low of $39.35 and a 12 month high of $63.33.

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last issued 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%. As a group, analysts anticipate that Bristol-Myers Squibb will post 6.74 earnings per share for the current year.

Bristol-Myers Squibb Announces Dividend

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 given a $0.62 dividend. The ex-dividend date is Friday, April 4th. This represents a $2.48 annualized dividend and a dividend yield of 4.19%. Bristol-Myers Squibb's payout ratio is -56.11%.

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.