USS Investment Management Ltd Sells 46,833 Shares of Bristol-Myers Squibb (NYSE:BMY)

USS Investment Management Ltd trimmed its holdings in Bristol-Myers Squibb (NYSE:BMY) by 11.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 353,836 shares of the biopharmaceutical company’s stock after selling 46,833 shares during the quarter. USS Investment Management Ltd’s holdings in Bristol-Myers Squibb were worth $20,025,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Truist Financial Corp raised its position in shares of Bristol-Myers Squibb by 3.9% during the fourth quarter. Truist Financial Corp now owns 1,597,150 shares of the biopharmaceutical company’s stock valued at $90,335,000 after buying an additional 60,365 shares during the last quarter. High Net Worth Advisory Group LLC increased its position in shares of Bristol-Myers Squibb by 42.2% during the fourth quarter. High Net Worth Advisory Group LLC now owns 16,974 shares of the biopharmaceutical company’s stock valued at $960,000 after purchasing an additional 5,040 shares during the period. KBC Group NV lifted its position in Bristol-Myers Squibb by 18.4% in the fourth quarter. KBC Group NV now owns 4,054,868 shares of the biopharmaceutical company’s stock worth $229,343,000 after purchasing an additional 628,908 shares during the period. Quilter Plc boosted its stake in Bristol-Myers Squibb by 56.6% during the fourth quarter. Quilter Plc now owns 107,818 shares of the biopharmaceutical company’s stock worth $6,098,000 after buying an additional 38,977 shares in the last quarter. Finally, Advyzon Investment Management LLC acquired a new position in shares of Bristol-Myers Squibb in the 4th quarter valued at $458,000. Institutional investors own 76.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Cantor Fitzgerald reissued a “neutral” rating and issued a $55.00 target price on shares of Bristol-Myers Squibb in a research note on Tuesday, April 22nd. Wells Fargo & Company boosted their price target on Bristol-Myers Squibb from $60.00 to $62.00 and gave the company an “equal weight” rating in a research note on Friday, February 7th. William Blair reissued 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, Citigroup boosted their price target on shares of Bristol-Myers Squibb from $60.00 to $65.00 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating, five have issued a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $58.00.

Bristol-Myers Squibb Stock Up 1.3%

Shares of BMY opened at $47.84 on Wednesday. The business’s fifty day moving average price is $52.55 and its two-hundred day moving average price is $55.89. The firm has a market capitalization of $97.36 billion, a price-to-earnings ratio of -10.82, a PEG ratio of 2.07 and a beta of 0.39. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $63.33. 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 posted its quarterly earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.50 by $0.30. The business had revenue of $11.20 billion for the quarter, compared to analysts’ expectations of $10.77 billion. Bristol-Myers Squibb had a positive return on equity of 13.93% and a negative net margin of 18.53%. The firm’s quarterly revenue was down 5.6% compared to the same quarter last year. During the same quarter last year, the business earned ($4.40) earnings per share. On average, analysts predict that Bristol-Myers Squibb will post 6.74 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Friday, April 4th were issued a $0.62 dividend. The ex-dividend date was Friday, April 4th. This represents a $2.48 annualized dividend and a yield of 5.18%. Bristol-Myers Squibb’s dividend payout ratio is currently 92.88%.

Insider Buying and Selling at Bristol-Myers Squibb

In related news, EVP Samit Hirawat purchased 4,250 shares of the business’s stock in a transaction dated Friday, April 25th. The shares were bought 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 in the company, valued at $3,973,548.54. This trade represents a 5.36% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.07% of the company’s stock.

Bristol-Myers Squibb Company 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.