Conning Inc. Sells 54,064 Shares of Bristol Myers Squibb Company (NYSE:BMY)

Conning Inc. decreased its holdings in shares of Bristol Myers Squibb Company (NYSE:BMY) by 8.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 595,727 shares of the biopharmaceutical company’s stock after selling 54,064 shares during the period. Bristol Myers Squibb accounts for about 1.3% of Conning Inc.’s portfolio, making the stock its 22nd biggest position. Conning Inc.’s holdings in Bristol Myers Squibb were worth $36,333,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Polar Asset Management Partners Inc. acquired a new position in shares of Bristol Myers Squibb during the fourth quarter valued at about $16,651,000. Avaii Wealth Management LLC increased its position in Bristol Myers Squibb by 590.9% in the 1st quarter. Avaii Wealth Management LLC now owns 78,597 shares of the biopharmaceutical company’s stock valued at $4,794,000 after buying an additional 67,221 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in Bristol Myers Squibb by 1.4% during the 1st quarter. Assenagon Asset Management S.A. now owns 65,038 shares of the biopharmaceutical company’s stock worth $3,967,000 after buying an additional 869 shares during the period. Shorepoint Capital Partners LLC boosted its holdings in Bristol Myers Squibb by 2.2% in the fourth quarter. Shorepoint Capital Partners LLC now owns 58,426 shares of the biopharmaceutical company’s stock worth $3,305,000 after acquiring an additional 1,248 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its stake in Bristol Myers Squibb by 17.0% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 550,613 shares of the biopharmaceutical company’s stock valued at $33,582,000 after acquiring an additional 80,087 shares during the period. Institutional investors and hedge funds own 76.41% of the company’s stock.

Bristol Myers Squibb Price Performance

BMY opened at $47.02 on Friday. Bristol Myers Squibb Company has a fifty-two week low of $39.35 and a fifty-two week high of $63.33. The firm has a 50-day moving average of $47.75 and a 200 day moving average of $53.69. The company has a debt-to-equity ratio of 2.65, a quick ratio of 1.17 and a current ratio of 1.28. The firm has a market cap of $95.68 billion, a P/E ratio of 17.61, a PEG ratio of 1.41 and a beta of 0.36.

Bristol Myers Squibb (NYSE:BMY) last released its earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.80 earnings per share for the quarter, beating analysts’ consensus estimates of $1.50 by $0.30. The firm had revenue of $11.20 billion during the quarter, compared to the consensus estimate of $10.77 billion. Bristol Myers Squibb had a net margin of 11.38% and a return on equity of 87.62%. The company’s revenue was down 5.6% compared to the same quarter last year. During the same period in the prior year, the firm earned ($4.40) EPS. On average, research analysts expect that Bristol Myers Squibb Company will post 6.74 EPS for the current year.

Bristol Myers Squibb Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 3rd will be paid a $0.62 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $2.48 annualized dividend and a dividend yield of 5.27%. Bristol Myers Squibb’s payout ratio is presently 92.88%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on BMY. Jefferies Financial Group lowered their target price on 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. UBS Group dropped their price objective on shares of Bristol Myers Squibb from $60.00 to $54.00 and set a “neutral” rating on the stock in a research note on Friday, April 11th. William Blair reiterated a “market perform” rating on shares of Bristol Myers Squibb in a report on Friday, April 25th. Piper Sandler started coverage on shares of Bristol Myers Squibb in a report on Tuesday, April 22nd. They issued an “overweight” rating and a $65.00 target price on the stock. Finally, Argus upgraded Bristol Myers Squibb to a “hold” rating in a research note on Friday, April 25th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $58.00.

Insider Activity at Bristol Myers Squibb

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 bought at an average price of $47.58 per share, for a total transaction of $202,215.00. Following the purchase, the executive vice president owned 83,513 shares of the company’s stock, valued at $3,973,548.54. The trade was a 5.36% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.09% of the stock is owned by corporate insiders.

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.