Brown Brothers Harriman & Co. Decreases Stock Holdings in Bristol-Myers Squibb (NYSE:BMY)

Brown Brothers Harriman & Co. trimmed its stake in shares of Bristol-Myers Squibb (NYSE:BMYGet Rating) by 2.0% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 88,982 shares of the biopharmaceutical company’s stock after selling 1,774 shares during the period. Brown Brothers Harriman & Co.’s holdings in Bristol-Myers Squibb were worth $6,498,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. Campbell & CO Investment Adviser LLC purchased a new stake in Bristol-Myers Squibb during the fourth quarter valued at approximately $306,000. Massachusetts Financial Services Co. MA increased its holdings in Bristol-Myers Squibb by 1.0% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 42,563 shares of the biopharmaceutical company’s stock valued at $2,653,000 after buying an additional 403 shares during the last quarter. Capital Analysts LLC increased its holdings in Bristol-Myers Squibb by 11.0% during the fourth quarter. Capital Analysts LLC now owns 8,993 shares of the biopharmaceutical company’s stock valued at $561,000 after buying an additional 893 shares during the last quarter. WealthShield Partners LLC purchased a new stake in Bristol-Myers Squibb during the fourth quarter valued at approximately $903,000. Finally, Rafferty Asset Management LLC increased its holdings in Bristol-Myers Squibb by 8.4% during the fourth quarter. Rafferty Asset Management LLC now owns 89,975 shares of the biopharmaceutical company’s stock valued at $5,610,000 after buying an additional 6,985 shares during the last quarter. 76.54% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on BMY. Bank of America upped their target price on shares of Bristol-Myers Squibb from $78.00 to $80.00 and gave the company a “buy” rating in a report on Monday, June 6th. Raymond James downgraded shares of Bristol-Myers Squibb from an “outperform” rating to a “market perform” rating in a research report on Friday, June 3rd. They noted that the move was a valuation call. Citigroup restated a “buy” rating and set a $90.00 price objective on shares of Bristol-Myers Squibb in a research report on Friday, June 3rd. Wells Fargo & Company raised their price objective on shares of Bristol-Myers Squibb from $65.00 to $70.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 17th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Bristol-Myers Squibb from $80.00 to $85.00 in a research report on Thursday, July 28th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $75.57.

Insider Activity at Bristol-Myers Squibb

In related news, CEO Giovanni Caforio sold 30,000 shares of the company’s stock in a transaction dated Monday, June 13th. The shares were sold at an average price of $74.04, for a total transaction of $2,221,200.00. Following the transaction, the chief executive officer now directly owns 551,104 shares in the company, valued at approximately $40,803,740.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.09% of the stock is currently owned by insiders.

Bristol-Myers Squibb Stock Up 0.9 %

Shares of NYSE BMY opened at $69.38 on Friday. The firm’s 50-day moving average price is $73.08 and its 200-day moving average price is $73.85. The company has a current ratio of 1.44, a quick ratio of 1.34 and a debt-to-equity ratio of 1.14. The stock has a market capitalization of $148.14 billion, a price-to-earnings ratio of 23.05, a P/E/G ratio of 1.46 and a beta of 0.43. Bristol-Myers Squibb has a 12-month low of $53.22 and a 12-month high of $80.59.

Bristol-Myers Squibb (NYSE:BMYGet Rating) last announced its earnings results on Wednesday, July 27th. The biopharmaceutical company reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.79 by $0.14. The firm had revenue of $11.89 billion for the quarter, compared to analysts’ expectations of $11.50 billion. Bristol-Myers Squibb had a net margin of 14.04% and a return on equity of 49.31%. The business’s revenue was up 1.6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.93 EPS. On average, equities research analysts anticipate that Bristol-Myers Squibb will post 7.51 EPS for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, August 1st. Investors of record on Friday, July 1st were issued a dividend of $0.54 per share. The ex-dividend date was Thursday, June 30th. This represents a $2.16 annualized dividend and a yield of 3.11%. Bristol-Myers Squibb’s payout ratio is 71.76%.

About Bristol-Myers Squibb

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Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, and markets biopharmaceutical products worldwide. It offers products for hematology, oncology, cardiovascular, immunology, fibrotic, neuroscience, and covid-19 diseases. The company's products include Revlimid, an oral immunomodulatory drug for the treatment of multiple myeloma; Eliquis, an oral inhibitor for reduction in risk of stroke/systemic embolism in NVAF, and for the treatment of DVT/PE; Opdivo for anti-cancer indications; Pomalyst/Imnovid indicated for patients with multiple myeloma; and Orencia for adult patients with active RA and psoriatic arthritis.

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Institutional Ownership by Quarter for Bristol-Myers Squibb (NYSE:BMY)

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