Thornburg Investment Management Inc. Reduces Holdings in Bristol-Myers Squibb (NYSE:BMY)

Thornburg Investment Management Inc. reduced its stake in Bristol-Myers Squibb (NYSE:BMY) by 44.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 38,400 shares of the biopharmaceutical company’s stock after selling 30,790 shares during the period. Thornburg Investment Management Inc.’s holdings in Bristol-Myers Squibb were worth $2,172,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in BMY. Merit Financial Group LLC raised its position in shares of Bristol-Myers Squibb by 34.1% in the 4th quarter. Merit Financial Group LLC now owns 42,435 shares of the biopharmaceutical company’s stock worth $2,400,000 after acquiring an additional 10,796 shares in the last quarter. HB Wealth Management LLC grew its stake in Bristol-Myers Squibb by 17.6% in 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 during the period. Ameritas Advisory Services LLC raised its holdings in Bristol-Myers Squibb by 9.4% in 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 purchased a new position in Bristol-Myers Squibb during the fourth quarter valued at $570,000. Finally, Jackson Square Capital LLC bought a new stake in shares of Bristol-Myers Squibb during the 4th quarter valued at $1,369,000. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Insider Buying and Selling at Bristol-Myers Squibb

In related news, EVP Samit Hirawat purchased 4,250 shares of Bristol-Myers Squibb stock in a transaction dated Friday, April 25th. The shares were acquired at an average price of $47.58 per share, for a total transaction of $202,215.00. Following the acquisition, the executive vice president now directly owns 83,513 shares in the company, valued at approximately $3,973,548.54. The trade was a 5.36% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.09% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

BMY has been the subject of a number of analyst reports. Jefferies Financial Group reduced their price objective on Bristol-Myers Squibb from $70.00 to $68.00 and set a “buy” rating for the company in a research report on Wednesday, April 23rd. Argus upgraded Bristol-Myers Squibb to a “hold” rating in a report on Friday, April 25th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $55.00 price target on shares of Bristol-Myers Squibb in a research note on Tuesday, April 22nd. Piper Sandler initiated coverage on shares of Bristol-Myers Squibb in a research report on Tuesday, April 22nd. They set an “overweight” rating and a $65.00 price objective on the stock. Finally, William Blair reaffirmed a “market perform” rating on shares of Bristol-Myers Squibb in a report on Friday, April 25th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, five have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $58.00.

Bristol-Myers Squibb Stock Up 2.1%

BMY stock opened at $46.77 on Monday. 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 one year low of $39.35 and a one year high of $63.33. The firm’s fifty day moving average is $53.05 and its 200 day moving average is $55.99. The firm has a market cap of $95.18 billion, a PE ratio of -10.58, a P/E/G ratio of 2.07 and a beta of 0.39.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings data on Thursday, April 24th. The biopharmaceutical company reported $1.80 earnings per share for the quarter, topping analysts’ consensus estimates of $1.50 by $0.30. The company had revenue of $11.20 billion during the quarter, compared to analysts’ expectations 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 firm’s revenue for the quarter was down 5.6% on a year-over-year basis. During the same period in the prior year, the business posted ($4.40) earnings per share. On average, research analysts forecast that Bristol-Myers Squibb will post 6.74 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

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

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.