Baxter Bros Inc. Sells 702 Shares of Bristol-Myers Squibb (NYSE:BMY)

Baxter Bros Inc. lessened its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 5.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 13,248 shares of the biopharmaceutical company’s stock after selling 702 shares during the period. Baxter Bros Inc.’s holdings in Bristol-Myers Squibb were worth $749,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Fairway Wealth LLC purchased a new position in shares of Bristol-Myers Squibb during the 4th quarter valued at $28,000. Comprehensive Financial Planning Inc. PA bought a new position in Bristol-Myers Squibb during the fourth quarter worth about $34,000. Dunhill Financial LLC increased its stake in shares of Bristol-Myers Squibb by 39.8% in the third quarter. Dunhill Financial LLC now owns 664 shares of the biopharmaceutical company’s stock worth $34,000 after purchasing an additional 189 shares in the last quarter. Westend Capital Management LLC bought a new stake in shares of Bristol-Myers Squibb in the fourth quarter valued at approximately $38,000. Finally, Tacita Capital Inc purchased a new stake in shares of Bristol-Myers Squibb during the 4th quarter valued at approximately $39,000. Institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Price Performance

Shares of Bristol-Myers Squibb stock opened at $61.09 on Tuesday. The company has a market cap of $123.98 billion, a PE ratio of -13.82, a P/E/G ratio of 2.07 and a beta of 0.43. The business has a 50 day moving average of $58.29 and a 200 day moving average of $56.05. 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 posted 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 positive return on equity of 13.93% and a negative net margin of 18.53%. As a group, equities research analysts forecast that Bristol-Myers Squibb will post 6.74 earnings per share 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 issued a $0.62 dividend. The ex-dividend date is Friday, April 4th. This represents a $2.48 dividend on an annualized basis and a yield of 4.06%. 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 acquired 1,823 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The shares were bought at an average cost of $54.84 per share, with a total value of $99,973.32. Following the completion of the transaction, the executive vice president now directly 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 Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.09% of the company’s stock.

Analyst Upgrades and Downgrades

BMY has been the topic of a number of analyst reports. Jefferies Financial Group raised shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and boosted their target price for the company from $63.00 to $70.00 in a report on Monday, December 16th. Truist Financial boosted their price objective on Bristol-Myers Squibb from $62.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Cantor Fitzgerald raised their target price on Bristol-Myers Squibb from $50.00 to $55.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. Wells Fargo & Company lifted 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. Finally, Bank of America reissued a “neutral” rating and issued a $63.00 price target on shares of Bristol-Myers Squibb in a report on Tuesday, December 10th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating, four have issued a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $57.86.

Bristol-Myers Squibb Company 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.