Trustmark National Bank Trust Department Reduces Holdings in Bristol-Myers Squibb (NYSE:BMY)

Trustmark National Bank Trust Department reduced its position in Bristol-Myers Squibb (NYSE:BMY) by 33.4% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 38,370 shares of the biopharmaceutical company’s stock after selling 19,221 shares during the period. Trustmark National Bank Trust Department’s holdings in Bristol-Myers Squibb were worth $1,985,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Landscape Capital Management L.L.C. acquired a new position in shares of Bristol-Myers Squibb in the third quarter valued at approximately $319,000. Pzena Investment Management LLC increased its stake in Bristol-Myers Squibb by 0.5% in the 3rd quarter. Pzena Investment Management LLC now owns 14,201,746 shares of the biopharmaceutical company’s stock valued at $734,798,000 after buying an additional 67,409 shares during the period. Darwin Wealth Management LLC purchased a new position in Bristol-Myers Squibb during the 3rd quarter worth $29,000. Portfolio Design Labs LLC acquired a new stake in Bristol-Myers Squibb in the third quarter valued at about $1,951,000. Finally, First Horizon Advisors Inc. lifted its holdings in shares of Bristol-Myers Squibb by 281.0% in the 3rd quarter. First Horizon Advisors Inc. now owns 395,386 shares of the biopharmaceutical company’s stock valued at $20,457,000 after buying an additional 291,613 shares during the period. 76.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently commented on BMY shares. Cantor Fitzgerald reissued a “neutral” rating and set a $50.00 price objective on shares of Bristol-Myers Squibb in a report on Friday, October 18th. Citigroup lifted their price objective on Bristol-Myers Squibb from $55.00 to $60.00 and gave the stock a “neutral” rating in a report on Tuesday, November 12th. Sanford C. Bernstein initiated coverage on Bristol-Myers Squibb in a report on Thursday, October 17th. They issued a “market perform” rating and a $56.00 target price on the stock. UBS Group boosted their price objective on shares of Bristol-Myers Squibb from $50.00 to $54.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Finally, TD Cowen raised their target price on shares of Bristol-Myers Squibb from $53.00 to $59.00 and gave the company a “hold” rating in a report on Monday, October 7th. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating, two have given a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $54.07.

Insider Buying and Selling

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 shares were bought at an average cost of $54.67 per share, with a total value of $100,046.10. Following the transaction, the executive vice president now directly owns 62,109 shares in the company, valued at approximately $3,395,499.03. This trade represents a 3.04 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Phil M. Holzer sold 700 shares of Bristol-Myers Squibb stock in a transaction on Monday, November 4th. The stock was sold at an average price of $55.62, for a total transaction of $38,934.00. Following the completion of the sale, the senior vice president now owns 11,760 shares of the company’s stock, valued at approximately $654,091.20. This trade represents a 5.62 % decrease in their position. The disclosure for this sale can be found here. 0.09% of the stock is owned by corporate insiders.

Bristol-Myers Squibb Trading Down 0.6 %

Shares of NYSE:BMY opened at $57.88 on Thursday. The business has a fifty day simple moving average of $53.26 and a 200-day simple moving average of $47.54. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $61.08. The company has a quick ratio of 1.09, a current ratio of 1.24 and a debt-to-equity ratio of 2.83.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share for the quarter, topping analysts’ consensus estimates of $1.49 by $0.31. The company had revenue of $11.89 billion for the quarter, compared to the consensus estimate of $11.26 billion. Bristol-Myers Squibb had a negative net margin of 15.30% and a positive return on equity of 11.94%. Bristol-Myers Squibb’s revenue was up 8.4% on a year-over-year basis. During the same quarter last year, the firm posted $2.00 earnings per share. On average, sell-side analysts predict that Bristol-Myers Squibb will post 0.93 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 4th were paid 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 4.15%. Bristol-Myers Squibb’s dividend payout ratio is currently -66.85%.

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.