Bristol-Myers Squibb (NYSE:BMY) Shares Sold by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System decreased its position in Bristol-Myers Squibb (NYSE:BMY) by 6.9% during the 4th quarter, Holdings Channel reports. The fund owned 108,932 shares of the biopharmaceutical company’s stock after selling 8,050 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Bristol-Myers Squibb were worth $6,161,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

BMY has been the subject of a number of research analyst reports. Truist Financial upped their price target on Bristol-Myers Squibb from $62.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Cantor Fitzgerald upped their target price on shares of Bristol-Myers Squibb from $50.00 to $55.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Citigroup lifted their price target on shares of Bristol-Myers Squibb from $60.00 to $65.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 28th. Bank of America restated a “neutral” rating and issued a $63.00 price objective on shares of Bristol-Myers Squibb in a research note on Tuesday, December 10th. Finally, Wells Fargo & Company boosted their target price on Bristol-Myers Squibb from $60.00 to $62.00 and gave the company an “equal weight” rating in a report on Friday, February 7th. Two investment 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 company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $57.86.

Bristol-Myers Squibb Trading Up 0.3 %

NYSE:BMY opened at $60.07 on Thursday. Bristol-Myers Squibb has a 12-month low of $39.35 and a 12-month high of $63.33. The company has a current ratio of 1.25, a quick ratio of 1.15 and a debt-to-equity ratio of 2.90. The stock’s 50 day simple moving average is $58.00 and its 200-day simple moving average is $55.79. The firm has a market cap of $121.90 billion, a P/E ratio of -13.59, a PEG ratio of 2.07 and a beta of 0.43.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share (EPS) for the quarter, beating the consensus estimate 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%. Equities analysts anticipate that Bristol-Myers Squibb will post 6.74 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Friday, April 4th will be given a $0.62 dividend. The ex-dividend date of this dividend is Friday, April 4th. This represents a $2.48 dividend on an annualized basis and a yield of 4.13%. Bristol-Myers Squibb’s payout ratio is currently -56.11%.

Insider Buying and Selling at Bristol-Myers Squibb

In other Bristol-Myers Squibb news, EVP Samit Hirawat bought 1,823 shares of the business’s stock in a transaction dated Friday, February 14th. The stock was acquired 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 owns 63,932 shares in the company, valued at approximately $3,506,030.88. This represents a 2.94 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.09% of the stock is owned by corporate insiders.

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.