Bristol-Myers Squibb (NYSE:BMY) Shares Sold by Two Sigma Advisers LP

Two Sigma Advisers LP lowered its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 80.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,857,900 shares of the biopharmaceutical company’s stock after selling 7,692,600 shares during the quarter. Two Sigma Advisers LP’s holdings in Bristol-Myers Squibb were worth $105,083,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BMY. Merit Financial Group LLC raised its holdings in Bristol-Myers Squibb by 34.1% during the fourth quarter. Merit Financial Group LLC now owns 42,435 shares of the biopharmaceutical company’s stock worth $2,400,000 after purchasing an additional 10,796 shares in the last quarter. HB Wealth Management LLC raised its holdings in Bristol-Myers Squibb by 17.6% during the fourth quarter. HB Wealth Management LLC now owns 73,542 shares of the biopharmaceutical company’s stock worth $4,159,000 after purchasing an additional 11,023 shares in the last quarter. Ameritas Advisory Services LLC raised its holdings in Bristol-Myers Squibb by 9.4% during the fourth quarter. Ameritas Advisory Services LLC now owns 15,807 shares of the biopharmaceutical company’s stock worth $894,000 after purchasing an additional 1,357 shares in the last quarter. Krilogy Financial LLC acquired a new stake in Bristol-Myers Squibb during the fourth quarter worth approximately $570,000. Finally, Jackson Square Capital LLC acquired a new stake in Bristol-Myers Squibb during the fourth quarter worth approximately $1,369,000. Institutional investors and hedge funds own 76.41% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Samit Hirawat purchased 4,250 shares of the business’s stock in a transaction dated Friday, April 25th. The stock was acquired at an average price of $47.58 per share, with a total value of $202,215.00. Following the purchase, the executive vice president now directly owns 83,513 shares of the company’s stock, valued at $3,973,548.54. This represents a 5.36% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.09% of the company’s stock.

Bristol-Myers Squibb Price Performance

Shares of NYSE BMY opened at $46.77 on Monday. The firm has a market capitalization of $95.18 billion, a P/E ratio of -10.58, a PEG ratio of 2.07 and a beta of 0.39. Bristol-Myers Squibb has a one year low of $39.35 and a one year high of $63.33. The company’s fifty day moving average is $53.05 and its two-hundred day moving average is $55.99. The company has a debt-to-equity ratio of 2.90, a quick ratio of 1.15 and a current ratio of 1.25.

Bristol-Myers Squibb (NYSE:BMY) last issued its earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.80 EPS for the quarter, topping the consensus estimate of $1.50 by $0.30. The company had revenue of $11.20 billion for the quarter, compared to analyst estimates of $10.77 billion. Bristol-Myers Squibb had a negative net margin of 18.53% and a positive return on equity of 13.93%. The business’s revenue was down 5.6% on a year-over-year basis. During the same period in the previous year, the firm earned ($4.40) EPS. Analysts forecast that Bristol-Myers Squibb will post 6.74 EPS for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Friday, April 4th were given a dividend of $0.62 per share. The ex-dividend date of this dividend was Friday, April 4th. This represents a $2.48 annualized dividend and a dividend yield of 5.30%. Bristol-Myers Squibb’s payout ratio is currently 92.88%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on BMY shares. William Blair restated a “market perform” rating on shares of Bristol-Myers Squibb in a research report on Friday, April 25th. Jefferies Financial Group lowered their target price on shares of Bristol-Myers Squibb from $70.00 to $68.00 and set a “buy” rating on the stock in a research report on Wednesday, April 23rd. Wells Fargo & Company raised their target price on shares of Bristol-Myers Squibb from $60.00 to $62.00 and gave the stock an “equal weight” rating in a research report on Friday, February 7th. Piper Sandler started coverage on shares of Bristol-Myers Squibb in a research report on Tuesday, April 22nd. They set an “overweight” rating and a $65.00 target price on the stock. Finally, The Goldman Sachs Group restated a “neutral” rating and set a $55.00 target price (down from $67.00) on shares of Bristol-Myers Squibb in a research report on Tuesday, April 8th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, five have assigned a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, Bristol-Myers Squibb currently has a consensus rating of “Hold” and a consensus price target of $58.00.

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.