Victory Capital Management Inc. Sells 816,074 Shares of Bristol-Myers Squibb (NYSE:BMY)

Victory Capital Management Inc. reduced its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 21.6% in the third quarter, according to its most recent filing with the SEC. The fund owned 2,965,322 shares of the biopharmaceutical company’s stock after selling 816,074 shares during the period. Victory Capital Management Inc. owned approximately 0.15% of Bristol-Myers Squibb worth $153,426,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Reston Wealth Management LLC bought a new stake in shares of Bristol-Myers Squibb during the 3rd quarter worth $25,000. Hollencrest Capital Management lifted its holdings in shares of Bristol-Myers Squibb by 61.3% during the 3rd quarter. Hollencrest Capital Management now owns 492 shares of the biopharmaceutical company’s stock worth $25,000 after acquiring an additional 187 shares during the last quarter. ESL Trust Services LLC bought a new stake in shares of Bristol-Myers Squibb during the 1st quarter worth $27,000. Kennebec Savings Bank bought a new stake in shares of Bristol-Myers Squibb during the 3rd quarter worth $28,000. Finally, Valued Wealth Advisors LLC lifted its holdings in shares of Bristol-Myers Squibb by 1,168.1% during the 3rd quarter. Valued Wealth Advisors LLC now owns 596 shares of the biopharmaceutical company’s stock worth $31,000 after acquiring an additional 549 shares during the last quarter. 76.41% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on BMY shares. Cantor Fitzgerald reissued a “neutral” rating and issued a $50.00 price target on shares of Bristol-Myers Squibb in a research note on Friday, October 18th. Jefferies Financial Group boosted their price target on shares of Bristol-Myers Squibb from $49.00 to $51.00 and gave the stock a “hold” rating in a research note on Wednesday, August 28th. Leerink Partnrs raised shares of Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research note on Tuesday. StockNews.com raised shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 29th. Finally, Leerink Partners raised shares of Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $55.00 to $73.00 in a research note on Tuesday. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, one has issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $54.07.

Insiders Place Their Bets

In other Bristol-Myers Squibb news, SVP Phil M. Holzer sold 700 shares of the company’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $55.62, for a total value of $38,934.00. Following the sale, the senior vice president now owns 11,760 shares in the company, valued at approximately $654,091.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Samit Hirawat bought 1,830 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were purchased at an average price of $54.67 per share, for a total transaction of $100,046.10. Following the completion of the purchase, the executive vice president now owns 62,109 shares in the company, valued at approximately $3,395,499.03. This represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Phil M. Holzer sold 700 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $55.62, for a total transaction of $38,934.00. Following the completion of the transaction, the senior vice president now owns 11,760 shares in the company, valued at approximately $654,091.20. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.09% of the company’s stock.

Bristol-Myers Squibb Price Performance

Shares of NYSE BMY opened at $59.02 on Wednesday. Bristol-Myers Squibb has a 1 year low of $39.35 and a 1 year high of $61.08. The company has a debt-to-equity ratio of 2.83, a current ratio of 1.24 and a quick ratio of 1.09. The company’s 50-day moving average is $52.07 and its 200 day moving average is $46.89. The stock has a market capitalization of $119.70 billion, a P/E ratio of -16.44, a P/E/G ratio of 20.09 and a beta of 0.44.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.49 by $0.31. The company had revenue of $11.89 billion for the quarter, compared to analysts’ expectations of $11.26 billion. Bristol-Myers Squibb had a negative net margin of 15.30% and a positive return on equity of 11.94%. Bristol-Myers Squibb’s quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.00 earnings per share. On average, sell-side analysts expect that Bristol-Myers Squibb will post 0.92 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 4th were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 4.07%. The ex-dividend date was Friday, October 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -66.85%.

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.