LSV Asset Management Trims Position in Bristol-Myers Squibb (NYSE:BMY)

LSV Asset Management lowered its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 2.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,319,218 shares of the biopharmaceutical company’s stock after selling 226,073 shares during the quarter. Bristol-Myers Squibb accounts for about 1.1% of LSV Asset Management’s portfolio, making the stock its 11th largest position. LSV Asset Management owned about 0.41% of Bristol-Myers Squibb worth $470,535,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Truist Financial Corp increased its position in Bristol-Myers Squibb by 3.9% during the 4th quarter. Truist Financial Corp now owns 1,597,150 shares of the biopharmaceutical company’s stock valued at $90,335,000 after purchasing an additional 60,365 shares during the period. Contravisory Investment Management Inc. acquired a new stake in Bristol-Myers Squibb during the 4th quarter valued at approximately $488,000. Inspire Trust Co. N.A. increased its holdings in shares of Bristol-Myers Squibb by 39.0% during the 3rd 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 in the last quarter. Versant Capital Management Inc increased its holdings in Bristol-Myers Squibb by 14.0% in the 4th quarter. Versant Capital Management Inc now owns 78,690 shares of the biopharmaceutical company’s stock worth $4,451,000 after acquiring an additional 9,692 shares in the last quarter. Finally, Decker Retirement Planning Inc. acquired a new stake in Bristol-Myers Squibb during the 4th quarter worth $474,000. Institutional investors own 76.41% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on BMY shares. Citigroup boosted their price target on shares of Bristol-Myers Squibb from $60.00 to $65.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 28th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $55.00 price target (down from $67.00) on shares of Bristol-Myers Squibb in a report on Tuesday. Wells Fargo & Company increased their price target on Bristol-Myers Squibb from $60.00 to $62.00 and gave the stock an “equal weight” rating in a report on Friday, February 7th. Cantor Fitzgerald increased their price target on Bristol-Myers Squibb from $50.00 to $55.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Finally, Truist Financial increased their price target on Bristol-Myers Squibb from $62.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, four have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, Bristol-Myers Squibb presently has an average rating of “Hold” and a consensus target price of $57.67.

Bristol-Myers Squibb Stock Up 1.4 %

Shares of NYSE:BMY opened at $53.80 on Thursday. 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 has a 1 year low of $39.35 and a 1 year high of $63.33. The stock has a market capitalization of $109.47 billion, a P/E ratio of -12.17, a PEG ratio of 2.07 and a beta of 0.41. The stock has a 50-day simple moving average of $58.07 and a 200-day simple moving average of $56.73.

Bristol-Myers Squibb (NYSE:BMY) last announced its earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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%. Equities analysts forecast that Bristol-Myers Squibb will post 6.74 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Friday, April 4th will be given a $0.62 dividend. The ex-dividend date is Friday, April 4th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.61%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is -56.11%.

Insider Activity at Bristol-Myers Squibb

In other news, EVP Samit Hirawat purchased 1,823 shares of the business’s stock in a transaction dated Friday, February 14th. The stock was bought at an average cost of $54.84 per share, with a total value of $99,973.32. Following the purchase, the executive vice president now directly owns 63,932 shares of the company’s stock, valued at approximately $3,506,030.88. This trade represents a 2.94 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.09% of the stock is currently 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.