Selway Asset Management Decreases Holdings in Bristol-Myers Squibb (NYSE:BMY)

Selway Asset Management decreased its holdings in Bristol-Myers Squibb (NYSE:BMY) by 9.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 14,331 shares of the biopharmaceutical company’s stock after selling 1,500 shares during the period. Selway Asset Management’s holdings in Bristol-Myers Squibb were worth $811,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Truist Financial Corp increased its holdings in shares of Bristol-Myers Squibb by 3.9% in the fourth quarter. Truist Financial Corp now owns 1,597,150 shares of the biopharmaceutical company’s stock worth $90,335,000 after buying an additional 60,365 shares during the period. Contravisory Investment Management Inc. purchased a new position in Bristol-Myers Squibb in the 4th quarter worth approximately $488,000. Inspire Trust Co. N.A. lifted its position in Bristol-Myers Squibb by 39.0% in 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 purchasing an additional 29,044 shares during the last quarter. iA Global Asset Management Inc. boosted its stake in shares of Bristol-Myers Squibb by 81.3% during the third quarter. iA Global Asset Management Inc. now owns 76,775 shares of the biopharmaceutical company’s stock valued at $3,972,000 after purchasing an additional 34,418 shares during the period. Finally, Versant Capital Management Inc grew its holdings in shares of Bristol-Myers Squibb by 14.0% in the fourth quarter. Versant Capital Management Inc now owns 78,690 shares of the biopharmaceutical company’s stock worth $4,451,000 after purchasing an additional 9,692 shares during the last quarter. Institutional investors own 76.41% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on BMY. Cantor Fitzgerald increased 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 report on Tuesday, February 4th. Truist Financial raised their target price 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. Jefferies Financial Group raised Bristol-Myers Squibb from a “hold” rating to a “buy” rating and upped their price target for the company from $63.00 to $70.00 in a research report on Monday, December 16th. Bank of America reiterated a “neutral” rating and issued a $63.00 price objective on shares of Bristol-Myers Squibb in a research report on Tuesday, December 10th. Finally, Wells Fargo & Company upped 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. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, four have given a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat.com, Bristol-Myers Squibb currently has an average rating of “Hold” and a consensus price target of $57.86.

Insider Transactions at Bristol-Myers Squibb

In other news, EVP Samit Hirawat acquired 1,823 shares of the business’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 transaction, 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 position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.09% of the company’s stock.

Bristol-Myers Squibb Stock Up 0.1 %

Shares of Bristol-Myers Squibb stock opened at $59.59 on Thursday. Bristol-Myers Squibb has a 1 year low of $39.35 and a 1 year high of $63.33. The firm has a market cap of $121.25 billion, a price-to-earnings ratio of -13.48, a PEG ratio of 2.07 and a beta of 0.43. The company has a 50-day moving average of $58.74 and a 200 day moving average of $56.54. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.25 and a quick ratio of 1.15.

Bristol-Myers Squibb (NYSE:BMY) last announced its earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share for the quarter, beating 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, sell-side analysts anticipate that Bristol-Myers Squibb will post 6.74 earnings per share for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Friday, April 4th will be issued a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 4.16%. The ex-dividend date is Friday, April 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is -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.