Bristol-Myers Squibb (NYSE:BMY) Position Trimmed by Vinva Investment Management Ltd

Vinva Investment Management Ltd decreased its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 13.8% in the 4th quarter, Holdings Channel reports. The firm owned 113,935 shares of the biopharmaceutical company’s stock after selling 18,166 shares during the quarter. Vinva Investment Management Ltd’s holdings in Bristol-Myers Squibb were worth $6,387,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. Truist Financial Corp boosted its holdings in shares of Bristol-Myers Squibb by 3.9% during the fourth quarter. Truist Financial Corp now owns 1,597,150 shares of the biopharmaceutical company’s stock valued at $90,335,000 after acquiring an additional 60,365 shares during the period. Contravisory Investment Management Inc. acquired a new stake in Bristol-Myers Squibb in the 4th quarter valued at about $488,000. Inspire Trust Co. N.A. lifted its holdings in Bristol-Myers Squibb by 39.0% in the 3rd quarter. Inspire Trust Co. N.A. now owns 103,500 shares of the biopharmaceutical company’s stock valued at $5,355,000 after acquiring an additional 29,044 shares during the last quarter. iA Global Asset Management Inc. lifted its holdings in Bristol-Myers Squibb by 81.3% in the 3rd quarter. iA Global Asset Management Inc. now owns 76,775 shares of the biopharmaceutical company’s stock valued at $3,972,000 after acquiring an additional 34,418 shares during the last quarter. Finally, Bellevue Group AG acquired a new stake in Bristol-Myers Squibb in the 3rd quarter valued at about $1,905,000. Institutional investors and hedge funds own 76.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Bank of America reissued a “neutral” rating and issued a $63.00 price target on shares of Bristol-Myers Squibb in a report on Tuesday, December 10th. Jefferies Financial Group upgraded Bristol-Myers Squibb from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $63.00 to $70.00 in a report on Monday, December 16th. Truist Financial boosted their price objective on Bristol-Myers Squibb from $62.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Citigroup boosted their price objective on Bristol-Myers Squibb from $60.00 to $65.00 and gave the stock a “neutral” rating in a report on Tuesday, January 28th. Finally, Wells Fargo & Company boosted their price objective on Bristol-Myers Squibb from $60.00 to $62.00 and gave the stock an “equal weight” rating in a report on Friday, February 7th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, four have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Bristol-Myers Squibb currently has an average rating of “Hold” and an average target price of $57.86.

Bristol-Myers Squibb Trading Down 0.1 %

Shares of NYSE BMY opened at $59.94 on Wednesday. The stock has a market cap of $121.64 billion, a price-to-earnings ratio of -13.56, a PEG ratio of 2.07 and a beta of 0.43. The business has a 50 day simple moving average of $57.93 and a 200 day simple moving average of $55.76. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $63.33. 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 (NYSE:BMY) last announced its quarterly earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 EPS for the quarter, beating 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%. On average, research analysts predict that Bristol-Myers Squibb will post 6.74 earnings per share for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Friday, April 4th will be paid a $0.62 dividend. The ex-dividend date of this dividend is Friday, April 4th. This represents a $2.48 annualized dividend and a dividend yield of 4.14%. Bristol-Myers Squibb’s payout ratio is -56.11%.

Insiders Place Their Bets

In related news, EVP Samit Hirawat bought 1,823 shares of the firm’s stock in a transaction on Friday, February 14th. The stock was purchased at an average price 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 $3,506,030.88. This trade represents a 2.94 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.09% of the company’s stock.

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.