Bristol-Myers Squibb (NYSE:BMY) Shares Sold by L & S Advisors Inc

L & S Advisors Inc cut its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 15.0% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,795 shares of the biopharmaceutical company’s stock after selling 668 shares during the quarter. L & S Advisors Inc’s holdings in Bristol-Myers Squibb were worth $215,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Truist Financial Corp lifted its stake in 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 buying an additional 60,365 shares in the last quarter. Contravisory Investment Management Inc. purchased a new stake in shares of Bristol-Myers Squibb in the fourth quarter valued at $488,000. Inspire Trust Co. N.A. boosted its stake in shares of Bristol-Myers Squibb by 39.0% during the third quarter. Inspire Trust Co. N.A. now owns 103,500 shares of the biopharmaceutical company’s stock valued at $5,355,000 after acquiring an additional 29,044 shares during the last quarter. iA Global Asset Management Inc. increased its position in 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 purchasing an additional 34,418 shares in the last quarter. Finally, Bellevue Group AG acquired a new position in Bristol-Myers Squibb in the 3rd quarter valued at about $1,905,000. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

BMY has been the subject of a number of recent research reports. Bank of America reiterated a “neutral” rating and set a $63.00 price target on shares of Bristol-Myers Squibb in a report on Tuesday, December 10th. Cantor Fitzgerald boosted their price target on Bristol-Myers Squibb from $50.00 to $55.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Jefferies Financial Group upgraded Bristol-Myers Squibb from a “hold” rating to a “buy” rating and raised their price objective for the stock from $63.00 to $70.00 in a report on Monday, December 16th. Citigroup upped their target price on 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, Truist Financial raised their price target on Bristol-Myers Squibb from $62.00 to $65.00 and gave the stock a “buy” rating in a research note 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 company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $57.86.

Bristol-Myers Squibb Stock Up 2.0 %

Shares of NYSE:BMY opened at $60.10 on Monday. The company has a market capitalization of $121.96 billion, a price-to-earnings ratio of -13.60, a price-to-earnings-growth ratio of 2.07 and a beta of 0.43. The company has a 50 day moving average of $58.55 and a two-hundred day moving average of $56.35. Bristol-Myers Squibb has a 52-week low of $39.35 and a 52-week high of $63.33. The company has a quick ratio of 1.15, a current ratio of 1.25 and a debt-to-equity ratio of 2.90.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share (EPS) for the quarter, topping 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%. As a group, analysts forecast that Bristol-Myers Squibb will post 6.74 earnings per share for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

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

Insider Buying and Selling at Bristol-Myers Squibb

In related news, EVP Samit Hirawat purchased 1,823 shares of the firm’s stock in a transaction dated Friday, February 14th. The stock was acquired at an average price of $54.84 per share, with a total value of $99,973.32. Following the completion of the transaction, the executive vice president now owns 63,932 shares of the company’s stock, valued at $3,506,030.88. This represents a 2.94 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.09% of the stock is owned by insiders.

About Bristol-Myers Squibb

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.