Quilter Plc Sells 24,555 Shares of Bristol Myers Squibb Company (NYSE:BMY)

Quilter Plc cut its position in Bristol Myers Squibb Company (NYSE:BMY) by 22.8% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 83,263 shares of the biopharmaceutical company’s stock after selling 24,555 shares during the period. Quilter Plc’s holdings in Bristol Myers Squibb were worth $5,078,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Polar Asset Management Partners Inc. purchased a new stake in shares of Bristol Myers Squibb during the fourth quarter valued at $16,651,000. Avaii Wealth Management LLC grew its holdings in shares of Bristol Myers Squibb by 590.9% in the first quarter. Avaii Wealth Management LLC now owns 78,597 shares of the biopharmaceutical company’s stock worth $4,794,000 after acquiring an additional 67,221 shares during the period. Assenagon Asset Management S.A. increased its position in Bristol Myers Squibb by 1.4% during the first quarter. Assenagon Asset Management S.A. now owns 65,038 shares of the biopharmaceutical company’s stock valued at $3,967,000 after acquiring an additional 869 shares during the last quarter. Shorepoint Capital Partners LLC boosted its position in Bristol Myers Squibb by 2.2% in the fourth quarter. Shorepoint Capital Partners LLC now owns 58,426 shares of the biopharmaceutical company’s stock worth $3,305,000 after purchasing an additional 1,248 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its position in Bristol Myers Squibb by 17.0% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 550,613 shares of the biopharmaceutical company’s stock valued at $33,582,000 after buying an additional 80,087 shares during the period. 76.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on BMY. Wall Street Zen lowered Bristol Myers Squibb from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 6th. Piper Sandler initiated coverage on Bristol Myers Squibb in a research report on Tuesday, April 22nd. They set an “overweight” rating and a $65.00 price objective on the stock. Jefferies Financial Group reduced their target price on shares of Bristol Myers Squibb from $70.00 to $68.00 and set a “buy” rating for the company in a report on Wednesday, April 23rd. William Blair restated a “market perform” rating on shares of Bristol Myers Squibb in a research note on Friday, April 25th. Finally, The Goldman Sachs Group reiterated a “neutral” rating and issued a $55.00 price target (down from $67.00) on shares of Bristol Myers Squibb in a research report on Tuesday, April 8th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $58.00.

Bristol Myers Squibb Trading Up 0.0%

Shares of NYSE BMY opened at $46.68 on Friday. Bristol Myers Squibb Company has a 1-year low of $39.35 and a 1-year high of $63.33. The company has a debt-to-equity ratio of 2.65, a current ratio of 1.28 and a quick ratio of 1.17. The business’s 50 day moving average is $47.96 and its two-hundred day moving average is $54.02. The stock has a market capitalization of $95.01 billion, a P/E ratio of 17.48, a PEG ratio of 1.38 and a beta of 0.38.

Bristol Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.80 earnings per share for the quarter, beating the consensus estimate of $1.50 by $0.30. Bristol Myers Squibb had a return on equity of 87.62% and a net margin of 11.38%. The company had revenue of $11.20 billion for the quarter, compared to analyst estimates of $10.77 billion. During the same quarter in the prior year, the firm posted ($4.40) EPS. Bristol Myers Squibb’s quarterly revenue was down 5.6% compared to the same quarter last year. As a group, research analysts expect that Bristol Myers Squibb Company will post 6.74 EPS for the current year.

Bristol Myers Squibb Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 3rd will be issued a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 5.31%. The ex-dividend date of this dividend is Thursday, July 3rd. Bristol Myers Squibb’s dividend payout ratio is 92.88%.

Insider Activity

In related news, EVP Samit Hirawat bought 4,250 shares of the stock in a transaction on Friday, April 25th. The stock was bought at an average price of $47.58 per share, for a total transaction of $202,215.00. Following the completion of the acquisition, the executive vice president now directly owns 83,513 shares in the company, valued at approximately $3,973,548.54. This represents a 5.36% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.09% of the company’s stock.

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.