Bristol-Myers Squibb (NYSE:BMY) Shares Sold by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC lowered its position in shares of Bristol-Myers Squibb (NYSE:BMY - Free Report) by 19.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 515,398 shares of the biopharmaceutical company's stock after selling 122,924 shares during the quarter. Wedge Capital Management L L P NC's holdings in Bristol-Myers Squibb were worth $29,151,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of BMY. Meridian Management Co. boosted its stake in shares of Bristol-Myers Squibb by 0.6% in the third quarter. Meridian Management Co. now owns 28,283 shares of the biopharmaceutical company's stock valued at $1,463,000 after purchasing an additional 182 shares during the period. Hollencrest Capital Management lifted its holdings in Bristol-Myers Squibb by 61.3% during the 3rd quarter. Hollencrest Capital Management now owns 492 shares of the biopharmaceutical company's stock worth $25,000 after buying an additional 187 shares in the last quarter. Dunhill Financial LLC boosted its position in Bristol-Myers Squibb by 39.8% in the 3rd quarter. Dunhill Financial LLC now owns 664 shares of the biopharmaceutical company's stock valued at $34,000 after buying an additional 189 shares during the period. Mayflower Financial Advisors LLC grew its stake in shares of Bristol-Myers Squibb by 2.3% in the third quarter. Mayflower Financial Advisors LLC now owns 8,466 shares of the biopharmaceutical company's stock worth $438,000 after acquiring an additional 192 shares in the last quarter. Finally, Lakewood Asset Management LLC increased its position in shares of Bristol-Myers Squibb by 0.7% during the fourth quarter. Lakewood Asset Management LLC now owns 26,867 shares of the biopharmaceutical company's stock worth $1,520,000 after acquiring an additional 195 shares during the period. 76.41% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on BMY shares. Cantor Fitzgerald restated a "neutral" rating and set a $50.00 price target on shares of Bristol-Myers Squibb in a report on Friday, October 18th. UBS Group upped their target price on shares of Bristol-Myers Squibb from $50.00 to $54.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 9th. Truist Financial lifted their price target 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. Barclays increased their target price on Bristol-Myers Squibb from $42.00 to $43.00 and gave the company an "underweight" rating in a report on Monday, October 7th. Finally, Citigroup upped their price target on Bristol-Myers Squibb from $55.00 to $60.00 and gave the company a "neutral" rating in a report on Tuesday, November 12th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, four have assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, Bristol-Myers Squibb has a consensus rating of "Hold" and an average price target of $56.27.

Insider Activity

In other Bristol-Myers Squibb news, EVP Samit Hirawat bought 1,830 shares of the business's stock in a transaction on Friday, November 1st. The stock was bought at an average price of $54.67 per share, for a total transaction of $100,046.10. Following the completion of the transaction, the executive vice president now owns 62,109 shares in the company, valued at approximately $3,395,499.03. The trade was a 3.04 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Phil M. Holzer sold 700 shares of the company's stock in a transaction that occurred 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 completion of the sale, the senior vice president now directly owns 11,760 shares in the company, valued at approximately $654,091.20. The trade was a 5.62 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.09% of the company's stock.

Bristol-Myers Squibb Stock Performance

NYSE:BMY traded down $0.03 during mid-day trading on Friday, reaching $56.35. The stock had a trading volume of 10,909,530 shares, compared to its average volume of 10,195,547. The company has a debt-to-equity ratio of 2.83, a quick ratio of 1.09 and a current ratio of 1.24. The business has a 50 day simple moving average of $57.53 and a 200 day simple moving average of $51.92. Bristol-Myers Squibb has a twelve month low of $39.35 and a twelve month high of $61.08. The firm has a market capitalization of $114.30 billion, a price-to-earnings ratio of -15.70, a PEG ratio of 1.95 and a beta of 0.45.

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share for the quarter, beating analysts' consensus estimates of $1.49 by $0.31. The firm had revenue of $11.89 billion for 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%. The company's revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period in the previous year, the business earned $2.00 earnings per share. On average, analysts expect that Bristol-Myers Squibb will post 0.93 earnings per share for the current fiscal year.

Bristol-Myers Squibb Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 3rd will be issued a dividend of $0.62 per share. The ex-dividend date is Friday, January 3rd. This represents a $2.48 dividend on an annualized basis and a yield of 4.40%. This is an increase from Bristol-Myers Squibb's previous quarterly dividend of $0.60. Bristol-Myers Squibb's payout ratio is currently -69.08%.

Bristol-Myers Squibb Company 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.