Bristol-Myers Squibb (NYSE:BMY) Shares Sold by Intact Investment Management Inc.

Intact Investment Management Inc. lessened its stake in Bristol-Myers Squibb (NYSE:BMY) by 81.7% in the fourth quarter, Holdings Channel reports. The fund owned 55,800 shares of the biopharmaceutical company’s stock after selling 248,600 shares during the quarter. Intact Investment Management Inc.’s holdings in Bristol-Myers Squibb were worth $3,156,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of BMY. Fairway Wealth LLC purchased a new position in Bristol-Myers Squibb in the 4th quarter worth approximately $28,000. Darwin Wealth Management LLC purchased a new position in Bristol-Myers Squibb in the 3rd quarter worth approximately $29,000. Dunhill Financial LLC boosted its holdings in Bristol-Myers Squibb by 39.8% in the 3rd quarter. Dunhill Financial LLC now owns 664 shares of the biopharmaceutical company’s stock worth $34,000 after acquiring an additional 189 shares during the period. Comprehensive Financial Planning Inc. PA purchased a new position in Bristol-Myers Squibb in the 4th quarter worth approximately $34,000. Finally, Westend Capital Management LLC purchased a new position in Bristol-Myers Squibb in the 4th quarter worth approximately $38,000. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on BMY. Wolfe Research began coverage on Bristol-Myers Squibb in a report on Friday, November 15th. They issued a “peer perform” rating for the company. Wells Fargo & Company increased their target price on 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. Cantor Fitzgerald increased their target price on Bristol-Myers Squibb from $50.00 to $55.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Truist Financial increased their target price on Bristol-Myers Squibb from $62.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Finally, Citigroup increased their target price on Bristol-Myers Squibb from $60.00 to $65.00 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, four have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat, Bristol-Myers Squibb presently has a consensus rating of “Hold” and a consensus price target of $57.86.

Bristol-Myers Squibb Stock Performance

Shares of BMY opened at $59.01 on Friday. The business’s fifty day moving average price is $57.81 and its 200 day moving average price is $55.51. Bristol-Myers Squibb has a 12-month low of $39.35 and a 12-month high of $63.33. The stock has a market capitalization of $119.75 billion, a PE ratio of -13.35, 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 current ratio of 1.25 and a quick ratio of 1.15.

Bristol-Myers Squibb (NYSE:BMY) last issued its earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share for the quarter, topping the consensus estimate of $1.47 by $0.20. Bristol-Myers Squibb had a positive return on equity of 13.93% and a negative net margin of 18.53%. Equities research analysts forecast that Bristol-Myers Squibb will post 6.74 EPS for the current year.

Bristol-Myers Squibb Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Friday, April 4th will be given a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 4.20%. The ex-dividend date of this dividend is Friday, April 4th. Bristol-Myers Squibb’s dividend payout ratio is presently -56.11%.

Insiders Place Their Bets

In related news, EVP Samit Hirawat bought 1,823 shares of the company’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 transaction, the executive vice president now directly owns 63,932 shares of the company’s stock, valued at approximately $3,506,030.88. This represents a 2.94 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.09% of the stock is owned by corporate insiders.

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.