Bristol-Myers Squibb (NYSE:BMY) Shares Sold by Dodge & Cox

Dodge & Cox decreased its stake in Bristol-Myers Squibb (NYSE:BMY) by 1.4% during the 4th quarter, Holdings Channel reports. The firm owned 15,402,468 shares of the biopharmaceutical company’s stock after selling 225,275 shares during the quarter. Dodge & Cox’s holdings in Bristol-Myers Squibb were worth $871,164,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Bridgewater Associates LP lifted its holdings in Bristol-Myers Squibb by 237.7% in the 4th quarter. Bridgewater Associates LP now owns 2,061,076 shares of the biopharmaceutical company’s stock valued at $116,574,000 after purchasing an additional 1,450,718 shares in the last quarter. M Holdings Securities Inc. purchased a new position in Bristol-Myers Squibb in the 4th quarter worth approximately $690,000. Ontario Teachers Pension Plan Board boosted its stake in Bristol-Myers Squibb by 24.4% during the fourth quarter. Ontario Teachers Pension Plan Board now owns 68,339 shares of the biopharmaceutical company’s stock worth $3,865,000 after buying an additional 13,394 shares during the last quarter. Guggenheim Capital LLC raised its holdings in shares of Bristol-Myers Squibb by 0.3% during the 4th quarter. Guggenheim Capital LLC now owns 723,676 shares of the biopharmaceutical company’s stock worth $40,931,000 after acquiring an additional 2,398 shares during the period. Finally, Chiron Investment Management LLC purchased a new stake in shares of Bristol-Myers Squibb in the fourth quarter valued at about $4,768,000. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Insider Activity at Bristol-Myers Squibb

In other Bristol-Myers Squibb news, EVP Samit Hirawat acquired 1,823 shares of the business’s stock in a transaction dated Friday, February 14th. The stock was bought at an average price of $54.84 per share, with a total value 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 $3,506,030.88. This trade represents a 2.94 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 0.09% of the stock is currently owned by company insiders.

Bristol-Myers Squibb Trading Up 1.2 %

Shares of Bristol-Myers Squibb stock opened at $51.33 on Tuesday. 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 stock has a market cap of $104.44 billion, a PE ratio of -11.61, a PEG ratio of 2.07 and a beta of 0.41. The firm has a 50-day moving average of $57.54 and a 200-day moving average of $56.78. Bristol-Myers Squibb has a 52-week low of $39.35 and a 52-week high of $63.33.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings data on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share for the quarter, topping the consensus estimate of $1.47 by $0.20. Bristol-Myers Squibb had a positive return on equity of 13.93% and a negative net margin of 18.53%. As a group, sell-side analysts forecast that Bristol-Myers Squibb will post 6.74 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Friday, April 4th will be given a dividend of $0.62 per share. The ex-dividend date is Friday, April 4th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.83%. Bristol-Myers Squibb’s dividend payout ratio is presently -56.11%.

Analysts Set New Price Targets

BMY has been the subject of a number of recent analyst reports. Citigroup raised their price target on shares of Bristol-Myers Squibb from $60.00 to $65.00 and gave the stock a “neutral” rating in a report on Tuesday, January 28th. Jefferies Financial Group upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and boosted their price objective for the company from $63.00 to $70.00 in a report on Monday, December 16th. The Goldman Sachs Group reiterated a “neutral” rating and set a $55.00 price target (down from $67.00) on shares of Bristol-Myers Squibb in a research report on Tuesday, April 8th. Wells Fargo & Company upped their price target on 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. Finally, Truist Financial raised their target price on Bristol-Myers Squibb from $62.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. 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 stock presently has an average rating of “Hold” and a consensus target price of $57.67.

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.