Cinctive Capital Management LP Sells 60,105 Shares of Bristol-Myers Squibb (NYSE:BMY)

Cinctive Capital Management LP trimmed its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 20.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 228,343 shares of the biopharmaceutical company’s stock after selling 60,105 shares during the period. Cinctive Capital Management LP’s holdings in Bristol-Myers Squibb were worth $12,915,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in shares of Bristol-Myers Squibb by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 189,944,516 shares of the biopharmaceutical company’s stock valued at $10,743,262,000 after buying an additional 1,373,209 shares during the last quarter. State Street Corp raised its position in Bristol-Myers Squibb by 1.6% during the third quarter. State Street Corp now owns 92,896,580 shares of the biopharmaceutical company’s stock worth $4,806,469,000 after acquiring an additional 1,451,214 shares in the last quarter. Geode Capital Management LLC lifted its stake in Bristol-Myers Squibb by 2.7% in the fourth quarter. Geode Capital Management LLC now owns 44,391,247 shares of the biopharmaceutical company’s stock valued at $2,505,967,000 after acquiring an additional 1,187,231 shares during the last quarter. Norges Bank bought a new position in shares of Bristol-Myers Squibb in the 4th quarter valued at about $1,989,525,000. Finally, Bank of New York Mellon Corp grew its holdings in Bristol-Myers Squibb by 6.4% during the fourth quarter. Bank of New York Mellon Corp now owns 24,733,868 shares of the biopharmaceutical company’s stock worth $1,398,948,000 after purchasing an additional 1,482,410 shares during the period. 76.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on BMY. Cantor Fitzgerald upped their price target on shares of Bristol-Myers Squibb from $50.00 to $55.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Bank of America reaffirmed a “neutral” rating and issued a $63.00 target price on shares of Bristol-Myers Squibb in a research report on Tuesday, December 10th. Citigroup lifted their price target on Bristol-Myers Squibb from $60.00 to $65.00 and gave the stock a “neutral” rating in a report on Tuesday, January 28th. Wells Fargo & Company boosted their price target on Bristol-Myers Squibb from $60.00 to $62.00 and gave the company an “equal weight” rating in a research note on Friday, February 7th. Finally, Truist Financial increased their price objective on Bristol-Myers Squibb from $62.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, four have assigned a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $57.86.

Insider Activity

In other Bristol-Myers Squibb news, EVP Samit Hirawat bought 1,823 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The shares were acquired at an average cost of $54.84 per share, for a total transaction of $99,973.32. Following the transaction, the executive vice president now directly owns 63,932 shares in the company, valued at approximately $3,506,030.88. This represents a 2.94 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.09% of the company’s stock.

Bristol-Myers Squibb Stock Down 2.4 %

Shares of NYSE BMY opened at $59.53 on Wednesday. The company has a market cap of $121.13 billion, a price-to-earnings ratio of -13.47, a PEG ratio of 2.07 and a beta of 0.43. The company has a current ratio of 1.25, a quick ratio of 1.15 and a debt-to-equity ratio of 2.90. Bristol-Myers Squibb has a 12 month low of $39.35 and a 12 month high of $63.33. The stock has a 50-day moving average price of $58.69 and a two-hundred day moving average price of $56.52.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings data 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%. 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 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. The ex-dividend date is Friday, April 4th. This represents a $2.48 annualized dividend and a yield of 4.17%. Bristol-Myers Squibb’s dividend payout ratio is presently -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.