Bristol-Myers Squibb (NYSE:BMY) Shares Sold by Prudential PLC

Prudential PLC lessened its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 13.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 262,767 shares of the biopharmaceutical company’s stock after selling 41,337 shares during the period. Prudential PLC’s holdings in Bristol-Myers Squibb were worth $14,862,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Norges Bank acquired a new stake in shares of Bristol-Myers Squibb in the 4th quarter worth about $1,989,525,000. Wellington Management Group LLP increased its stake in shares of Bristol-Myers Squibb by 3,880.0% in the fourth quarter. Wellington Management Group LLP now owns 5,977,505 shares of the biopharmaceutical company’s stock valued at $338,088,000 after purchasing an additional 5,827,317 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Bristol-Myers Squibb during the fourth quarter valued at approximately $257,618,000. Schroder Investment Management Group boosted its position in shares of Bristol-Myers Squibb by 49.7% during the fourth quarter. Schroder Investment Management Group now owns 11,413,428 shares of the biopharmaceutical company’s stock worth $639,837,000 after buying an additional 3,787,075 shares during the period. Finally, National Bank of Canada FI grew its holdings in Bristol-Myers Squibb by 194.7% in the 3rd quarter. National Bank of Canada FI now owns 2,506,741 shares of the biopharmaceutical company’s stock worth $129,698,000 after buying an additional 1,656,141 shares in the last quarter. Institutional investors and hedge funds own 76.41% of the company’s stock.

Insider Transactions at Bristol-Myers Squibb

In other news, EVP Samit Hirawat acquired 1,823 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The shares were purchased at an average price of $54.84 per share, for a total transaction of $99,973.32. Following the completion of the acquisition, the executive vice president now owns 63,932 shares of the company’s stock, valued at approximately $3,506,030.88. This represents a 2.94 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.09% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on BMY shares. Wells Fargo & Company boosted their price target on Bristol-Myers Squibb from $60.00 to $62.00 and gave the stock an “equal weight” rating in a research report on Friday, February 7th. Truist Financial raised their target price on shares of Bristol-Myers Squibb from $62.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Bank of America reaffirmed a “neutral” rating and issued 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 Bristol-Myers Squibb from $50.00 to $55.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Finally, Jefferies Financial Group raised Bristol-Myers Squibb from a “hold” rating to a “buy” rating and increased their price target for the company from $63.00 to $70.00 in a research note on Monday, December 16th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, four have issued a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $57.86.

Bristol-Myers Squibb Price Performance

Shares of BMY opened at $55.32 on Friday. The business’s 50-day moving average is $58.62 and its 200-day moving average is $56.58. 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 company has a market capitalization of $112.56 billion, a price-to-earnings ratio of -12.52, a P/E/G ratio of 2.07 and a beta of 0.43. Bristol-Myers Squibb has a fifty-two week low of $39.35 and a fifty-two week high of $63.33.

Bristol-Myers Squibb (NYSE:BMY) last released its earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share (EPS) for the quarter, topping 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%. Equities research analysts expect that Bristol-Myers Squibb will post 6.74 EPS for the current fiscal 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 given a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 4.48%. The ex-dividend date is Friday, April 4th. Bristol-Myers Squibb’s payout ratio is currently -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.