Bristol-Myers Squibb (NYSE:BMY) Shares Sold by State of Michigan Retirement System

State of Michigan Retirement System lowered its holdings in Bristol-Myers Squibb (NYSE:BMY) by 14.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 613,133 shares of the biopharmaceutical company’s stock after selling 101,000 shares during the quarter. State of Michigan Retirement System’s holdings in Bristol-Myers Squibb were worth $34,679,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Tacita Capital Inc acquired a new stake in Bristol-Myers Squibb in the fourth quarter valued at $39,000. Bedel Financial Consulting Inc. increased its position in shares of Bristol-Myers Squibb by 3.2% in the fourth quarter. Bedel Financial Consulting Inc. now owns 5,690 shares of the biopharmaceutical company’s stock valued at $340,000 after buying an additional 175 shares in the last quarter. Steward Partners Investment Advisory LLC increased its position in shares of Bristol-Myers Squibb by 5.1% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 156,751 shares of the biopharmaceutical company’s stock valued at $8,866,000 after buying an additional 7,624 shares in the last quarter. Unified Investment Management purchased a new position in shares of Bristol-Myers Squibb in the fourth quarter valued at $1,379,000. Finally, Schechter Investment Advisors LLC purchased a new position in shares of Bristol-Myers Squibb in the fourth quarter valued at $536,000. Institutional investors and hedge funds own 76.41% of the company’s stock.

Insider Buying and Selling

In related news, EVP Samit Hirawat purchased 1,823 shares of Bristol-Myers Squibb stock in a transaction that occurred on Friday, February 14th. The shares were purchased 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 approximately $3,506,030.88. The trade was a 2.94 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 0.09% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Jefferies Financial Group upgraded Bristol-Myers Squibb from a “hold” rating to a “buy” rating and raised their price target for the company from $63.00 to $70.00 in a research report on Monday, December 16th. Wolfe Research assumed coverage on Bristol-Myers Squibb in a research report on Friday, November 15th. They issued a “peer perform” rating for the company. Leerink Partners upgraded Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and raised their price target for the company from $55.00 to $73.00 in a research report on Tuesday, November 12th. Wells Fargo & Company raised their price target on Bristol-Myers Squibb from $60.00 to $62.00 and gave the company an “equal weight” rating in a research report on Friday, February 7th. Finally, Truist Financial raised their price target on Bristol-Myers Squibb from $62.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, four have assigned a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Bristol-Myers Squibb currently has an average rating of “Hold” and an average price target of $57.86.

Bristol-Myers Squibb Stock Up 0.4 %

BMY opened at $59.85 on Tuesday. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.25 and a quick ratio of 1.15. The stock has a market capitalization of $121.45 billion, a price-to-earnings ratio of -13.54, a price-to-earnings-growth ratio of 2.07 and a beta of 0.45. The business has a 50-day moving average of $57.20 and a two-hundred day moving average of $54.86. Bristol-Myers Squibb has a 12 month low of $39.35 and a 12 month high of $61.10.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings data on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share for the quarter, beating 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%. On average, research analysts expect 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. Stockholders of record on Friday, April 4th will be paid a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 4.14%. Bristol-Myers Squibb’s dividend payout ratio is currently -56.11%.

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.