J. Safra Sarasin Holding AG Decreases Stock Holdings in Bristol-Myers Squibb (NYSE:BMY)

J. Safra Sarasin Holding AG lowered its holdings in Bristol-Myers Squibb (NYSE:BMY) by 49.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,533 shares of the biopharmaceutical company’s stock after selling 17,940 shares during the period. J. Safra Sarasin Holding AG’s holdings in Bristol-Myers Squibb were worth $1,048,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Norges Bank bought a new position in Bristol-Myers Squibb during the fourth quarter valued at about $1,989,525,000. Wellington Management Group LLP grew its position in shares of Bristol-Myers Squibb by 3,880.0% during the 4th quarter. Wellington Management Group LLP now owns 5,977,505 shares of the biopharmaceutical company’s stock valued at $338,088,000 after acquiring an additional 5,827,317 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Bristol-Myers Squibb during the 4th quarter worth approximately $257,618,000. Schroder Investment Management Group raised its holdings in shares of Bristol-Myers Squibb by 49.7% in the 4th quarter. Schroder Investment Management Group now owns 11,413,428 shares of the biopharmaceutical company’s stock worth $639,837,000 after purchasing an additional 3,787,075 shares during the period. Finally, Capital International Investors lifted its stake in Bristol-Myers Squibb by 7.5% in the fourth quarter. Capital International Investors now owns 45,866,624 shares of the biopharmaceutical company’s stock valued at $2,593,940,000 after purchasing an additional 3,218,865 shares during the last quarter. 76.41% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP Samit Hirawat acquired 1,823 shares of the firm’s stock in a transaction on Friday, February 14th. The stock was acquired at an average cost of $54.84 per share, for a total transaction of $99,973.32. Following the acquisition, the executive vice president now 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 purchase was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.09% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on BMY shares. Piper Sandler started coverage on Bristol-Myers Squibb in a research note on Tuesday. They issued an “overweight” rating and a $65.00 target price on the stock. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $55.00 price objective on shares of Bristol-Myers Squibb in a report on Tuesday. UBS Group reduced their target price on shares of Bristol-Myers Squibb from $60.00 to $54.00 and set a “neutral” rating for the company in a research note on Friday, April 11th. Citigroup upped their price target on shares of Bristol-Myers Squibb from $60.00 to $65.00 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. Finally, The Goldman Sachs Group reissued a “neutral” rating and set a $55.00 target price (down previously from $67.00) on shares of Bristol-Myers Squibb in a report on Tuesday, April 8th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, five have issued a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $58.13.

Bristol-Myers Squibb Price Performance

Shares of Bristol-Myers Squibb stock opened at $49.82 on Wednesday. The stock has a market capitalization of $101.37 billion, a P/E ratio of -11.27, a price-to-earnings-growth ratio of 2.07 and a beta of 0.41. Bristol-Myers Squibb has a one year low of $39.35 and a one year high of $63.33. 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 business’s 50 day simple moving average is $56.71 and its two-hundred day simple moving average is $56.59.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 EPS for the quarter, beating 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%. Analysts forecast that Bristol-Myers Squibb will post 6.74 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Friday, April 4th will be given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 4.98%. The ex-dividend date is Friday, April 4th. Bristol-Myers Squibb’s payout ratio is -56.11%.

Bristol-Myers Squibb 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.