Bristol-Myers Squibb (NYSE:BMY) Shares Sold by Handelsbanken Fonder AB

Handelsbanken Fonder AB cut its stake in Bristol-Myers Squibb (NYSE:BMY) by 2.4% in the fourth quarter, Holdings Channel.com reports. The firm owned 1,477,571 shares of the biopharmaceutical company’s stock after selling 36,161 shares during the quarter. Handelsbanken Fonder AB’s holdings in Bristol-Myers Squibb were worth $83,571,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Reston Wealth Management LLC acquired a new stake in shares of Bristol-Myers Squibb in the 3rd quarter worth $25,000. Hollencrest Capital Management increased its position in Bristol-Myers Squibb by 61.3% during the third quarter. Hollencrest Capital Management now owns 492 shares of the biopharmaceutical company’s stock worth $25,000 after purchasing an additional 187 shares during the last quarter. Kennebec Savings Bank purchased a new position in Bristol-Myers Squibb during the third quarter worth about $28,000. Darwin Wealth Management LLC acquired a new position in Bristol-Myers Squibb in the 3rd quarter valued at about $29,000. Finally, Valued Wealth Advisors LLC grew its stake in shares of Bristol-Myers Squibb by 1,168.1% in the 3rd quarter. Valued Wealth Advisors LLC now owns 596 shares of the biopharmaceutical company’s stock valued at $31,000 after buying an additional 549 shares during the period. Institutional investors and hedge funds own 76.41% of the company’s stock.

Insider Activity

In other news, EVP Samit Hirawat acquired 1,823 shares of Bristol-Myers Squibb stock in a transaction on Friday, February 14th. The stock was bought at an average price of $54.84 per share, for a total transaction of $99,973.32. Following the completion of the purchase, the executive vice president now owns 63,932 shares in the company, valued at $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 this hyperlink. Company insiders own 0.09% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Leerink Partners upgraded Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $55.00 to $73.00 in a report on Tuesday, November 12th. Truist Financial increased their price target on Bristol-Myers Squibb from $62.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. BMO Capital Markets upped their target price on shares of Bristol-Myers Squibb from $57.00 to $61.00 and gave the company a “market perform” rating in a research report on Tuesday, November 12th. Cantor Fitzgerald lifted their price target on shares of Bristol-Myers Squibb from $50.00 to $55.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. Finally, Morgan Stanley upped their price objective on shares of Bristol-Myers Squibb from $36.00 to $39.00 and gave the stock an “underweight” rating in a report on Tuesday, November 12th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, four have given a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, Bristol-Myers Squibb presently has an average rating of “Hold” and an average target price of $57.86.

Bristol-Myers Squibb Trading Up 1.0 %

BMY opened at $54.96 on Thursday. The business’s 50-day simple moving average is $57.00 and its 200-day simple moving average is $54.23. The company has a market cap of $111.52 billion, a P/E ratio of -12.43, a PEG ratio of 2.00 and a beta of 0.45. Bristol-Myers Squibb has a one year low of $39.35 and a one year high of $61.10. 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 released its quarterly earnings data on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share 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%. As a group, equities research analysts expect that Bristol-Myers Squibb will post 6.74 EPS for the current fiscal year.

Bristol-Myers Squibb Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, January 3rd were given a dividend of $0.62 per share. The ex-dividend date of this dividend was Friday, January 3rd. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.51%. This is a boost from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. Bristol-Myers Squibb’s payout ratio is -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.