Bristol-Myers Squibb (NYSE:BMY) Shares Sold by Primecap Management Co. CA

Primecap Management Co. CA decreased its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 2.6% during the 4th quarter, HoldingsChannel.com reports. 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’s holdings in Bristol-Myers Squibb were worth $1,288,051,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Fairway Wealth LLC acquired a new position in shares of Bristol-Myers Squibb during the 4th quarter valued at $28,000. Darwin Wealth Management LLC acquired a new position in shares of Bristol-Myers Squibb during the 3rd quarter valued at $29,000. Dunhill Financial LLC lifted its holdings in shares of Bristol-Myers Squibb by 39.8% during the 3rd quarter. Dunhill Financial LLC now owns 664 shares of the biopharmaceutical company’s stock valued at $34,000 after acquiring an additional 189 shares in the last quarter. Comprehensive Financial Planning Inc. PA acquired a new position in shares of Bristol-Myers Squibb during the 4th quarter valued at $34,000. Finally, Westend Capital Management LLC purchased a new stake in Bristol-Myers Squibb during the 4th quarter worth $38,000. Institutional investors and hedge funds own 76.41% of the company’s stock.

Wall Street Analysts Forecast Growth

BMY has been the topic of several analyst reports. Wells Fargo & Company lifted their price target 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. Jefferies Financial Group raised shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and lifted their price target for the stock from $63.00 to $70.00 in a research note on Monday, December 16th. Bank of America reaffirmed a “neutral” rating and set a $63.00 price target on shares of Bristol-Myers Squibb in a research note on Tuesday, December 10th. Cantor Fitzgerald boosted their target price on shares of Bristol-Myers Squibb from $50.00 to $55.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Finally, Truist Financial boosted their target price on shares of Bristol-Myers Squibb from $62.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Two 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 given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $57.86.

Insider Buying and Selling at Bristol-Myers Squibb

In other news, EVP Samit Hirawat bought 1,823 shares of Bristol-Myers Squibb stock in a transaction on Friday, February 14th. The stock was purchased at an average cost of $54.84 per share, with a total value of $99,973.32. Following the purchase, the executive vice president now directly owns 63,932 shares of the company’s stock, valued at approximately $3,506,030.88. This trade represents a 2.94 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.09% of the stock is currently owned by company insiders.

Bristol-Myers Squibb Trading Up 1.8 %

NYSE BMY opened at $60.07 on Tuesday. Bristol-Myers Squibb has a one year low of $39.35 and a one year high of $63.33. The company has a 50-day simple moving average of $57.87 and a 200-day simple moving average of $55.69. The company has a debt-to-equity ratio of 2.90, a quick ratio of 1.15 and a current ratio of 1.25. The firm has a market capitalization of $121.89 billion, a PE 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 posted its earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share (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%. On average, equities analysts forecast that Bristol-Myers Squibb will post 6.74 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Friday, April 4th will be paid a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 4.13%. The ex-dividend date is Friday, April 4th. 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.