Primecap Management Co. CA Reduces Stock Holdings in Bristol-Myers Squibb (NYSE:BMY)

Primecap Management Co. CA reduced its stake in Bristol-Myers Squibb (NYSE:BMY) by 2.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 22,773,180 shares of the biopharmaceutical company’s stock after selling 596,390 shares during the period. Primecap Management Co. CA owned 1.12% of Bristol-Myers Squibb worth $1,288,051,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Fairway Wealth LLC acquired a new stake in shares of Bristol-Myers Squibb during the fourth quarter worth about $28,000. Darwin Wealth Management LLC acquired a new stake in shares of Bristol-Myers Squibb during the third quarter worth about $29,000. Dunhill Financial LLC boosted its stake in shares of Bristol-Myers Squibb by 39.8% during the third quarter. Dunhill Financial LLC now owns 664 shares of the biopharmaceutical company’s stock worth $34,000 after buying an additional 189 shares during the period. Comprehensive Financial Planning Inc. PA acquired a new stake in shares of Bristol-Myers Squibb during the fourth quarter worth about $34,000. Finally, Westend Capital Management LLC acquired a new stake in shares of Bristol-Myers Squibb during the fourth quarter worth about $38,000. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently weighed in on BMY. Wells Fargo & Company increased their target price 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. Citigroup increased their price target on shares of Bristol-Myers Squibb from $60.00 to $65.00 and gave the stock a “neutral” rating in a report on Tuesday, January 28th. 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 report on Tuesday, February 4th. Jefferies Financial Group raised shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and increased their price target for the stock from $63.00 to $70.00 in a report on Monday, December 16th. Finally, Truist Financial increased their price target on shares of Bristol-Myers Squibb from $62.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, four have assigned a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, Bristol-Myers Squibb has a consensus rating of “Hold” and an average price target of $57.86.

Insider Buying and Selling

In related news, EVP Samit Hirawat purchased 1,823 shares of the firm’s stock in a transaction on Friday, February 14th. The shares were bought at an average price of $54.84 per share, for a total transaction of $99,973.32. Following the acquisition, the executive vice president now directly owns 63,932 shares in the company, valued at $3,506,030.88. This trade represents a 2.94 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this link. 0.09% of the stock is owned by company insiders.

Bristol-Myers Squibb Trading Up 1.8 %

Shares of BMY opened at $60.07 on Tuesday. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.25 and a quick ratio of 1.15. The firm has a 50 day simple moving average of $57.87 and a 200-day simple moving average of $55.69. Bristol-Myers Squibb has a 1-year low of $39.35 and a 1-year high of $63.33. The stock has a market cap of $121.89 billion, a price-to-earnings ratio of -13.59, a price-to-earnings-growth ratio of 2.07 and a beta of 0.43.

Bristol-Myers Squibb (NYSE:BMY) last announced its earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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%. Equities analysts forecast that Bristol-Myers Squibb will post 6.74 EPS for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Friday, April 4th will be given a dividend of $0.62 per share. The ex-dividend date is Friday, April 4th. This represents a $2.48 dividend on an annualized basis and a yield of 4.13%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently -56.11%.

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.