Bristol-Myers Squibb (NYSE:BMY) Shares Sold by Brandywine Global Investment Management LLC

Brandywine Global Investment Management LLC lessened its position in Bristol-Myers Squibb (NYSE:BMY) by 21.8% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 947,523 shares of the biopharmaceutical company’s stock after selling 264,713 shares during the period. Brandywine Global Investment Management LLC’s holdings in Bristol-Myers Squibb were worth $53,592,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Bristol-Myers Squibb by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 189,944,516 shares of the biopharmaceutical company’s stock valued at $10,743,262,000 after purchasing an additional 1,373,209 shares in the last quarter. State Street Corp boosted its stake in shares of Bristol-Myers Squibb by 1.6% in the third quarter. State Street Corp now owns 92,896,580 shares of the biopharmaceutical company’s stock valued at $4,806,469,000 after buying an additional 1,451,214 shares in the last quarter. Geode Capital Management LLC grew its holdings in Bristol-Myers Squibb by 2.5% during the third quarter. Geode Capital Management LLC now owns 43,204,016 shares of the biopharmaceutical company’s stock worth $2,228,425,000 after acquiring an additional 1,036,495 shares during the period. Norges Bank purchased a new position in Bristol-Myers Squibb in the fourth quarter worth $1,989,525,000. Finally, Bank of New York Mellon Corp lifted its holdings in Bristol-Myers Squibb by 6.4% in the fourth quarter. Bank of New York Mellon Corp now owns 24,733,868 shares of the biopharmaceutical company’s stock valued at $1,398,948,000 after acquiring an additional 1,482,410 shares during the period. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Samit Hirawat bought 1,823 shares of Bristol-Myers Squibb stock in a transaction dated Friday, February 14th. The shares were acquired at an average cost of $54.84 per share, with a total value of $99,973.32. Following the completion of the transaction, the executive vice president now owns 63,932 shares in the company, valued at approximately $3,506,030.88. This trade represents a 2.94 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.09% of the stock is owned by company insiders.

Bristol-Myers Squibb Trading Up 2.0 %

Shares of BMY stock opened at $60.10 on Friday. Bristol-Myers Squibb has a fifty-two week low of $39.35 and a fifty-two week high of $63.33. The firm’s 50 day moving average price is $58.55 and its two-hundred day moving average price is $56.30. The stock has a market cap of $121.96 billion, a price-to-earnings ratio of -13.60, a price-to-earnings-growth ratio of 2.07 and a beta of 0.43. The company has a quick ratio of 1.15, a current ratio of 1.25 and a debt-to-equity ratio of 2.90.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share for the quarter, topping analysts’ consensus estimates of $1.47 by $0.20. Bristol-Myers Squibb had a negative net margin of 18.53% and a positive return on equity of 13.93%. On average, analysts anticipate that Bristol-Myers Squibb will post 6.74 EPS 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 dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 4.13%. The ex-dividend date is Friday, April 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -56.11%.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Jefferies Financial Group upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and upped their target price for the stock from $63.00 to $70.00 in a research report on Monday, December 16th. Wells Fargo & Company increased their target price on Bristol-Myers Squibb from $60.00 to $62.00 and gave the company an “equal weight” rating in a report on Friday, February 7th. Cantor Fitzgerald increased their price objective on Bristol-Myers Squibb from $50.00 to $55.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Citigroup upped their target price on shares of Bristol-Myers Squibb from $60.00 to $65.00 and gave the company a “neutral” rating in a report on Tuesday, January 28th. Finally, Bank of America reiterated a “neutral” rating and set a $63.00 price target on shares of Bristol-Myers Squibb in a report on Tuesday, December 10th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, four have assigned a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $57.86.

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.