OMERS ADMINISTRATION Corp Lowers Stake in Bristol-Myers Squibb (NYSE:BMY)

OMERS ADMINISTRATION Corp cut its stake in Bristol-Myers Squibb (NYSE:BMY) by 2.1% during the fourth quarter, HoldingsChannel reports. The firm owned 111,893 shares of the biopharmaceutical company’s stock after selling 2,409 shares during the period. OMERS ADMINISTRATION Corp’s holdings in Bristol-Myers Squibb were worth $6,329,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Transce3nd LLC purchased a new position in shares of Bristol-Myers Squibb during the fourth quarter worth approximately $28,000. Fairway Wealth LLC bought a new position in Bristol-Myers Squibb in the fourth quarter worth approximately $28,000. Comprehensive Financial Planning Inc. PA purchased a new position in Bristol-Myers Squibb during the 4th quarter worth $34,000. Westend Capital Management LLC bought a new stake in Bristol-Myers Squibb during the 4th quarter valued at $38,000. Finally, Tacita Capital Inc bought a new position in shares of Bristol-Myers Squibb during the 4th quarter worth $39,000. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Insider Activity at Bristol-Myers Squibb

In other Bristol-Myers Squibb news, EVP Samit Hirawat acquired 1,823 shares of the firm’s stock in a transaction on Friday, February 14th. The stock was acquired at an average cost of $54.84 per share, for a total transaction of $99,973.32. Following the purchase, the executive vice president now owns 63,932 shares in the company, valued at approximately $3,506,030.88. The trade was a 2.94% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.09% of the stock is owned by insiders.

Bristol-Myers Squibb Stock Down 3.3%

BMY stock opened at $46.58 on Wednesday. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $63.33. The firm has a 50 day moving average of $54.03 and a 200 day moving average of $56.14. The company has a quick ratio of 1.15, a current ratio of 1.25 and a debt-to-equity ratio of 2.90. The stock has a market capitalization of $94.79 billion, a PE ratio of -10.54, a price-to-earnings-growth ratio of 2.07 and a beta of 0.39.

Bristol-Myers Squibb (NYSE:BMY) last issued its earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.80 earnings per share (EPS) 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 analyst estimates 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% on a year-over-year basis. During the same quarter last year, the business posted ($4.40) EPS. Sell-side analysts forecast that Bristol-Myers Squibb will post 6.74 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Friday, April 4th were given a $0.62 dividend. The ex-dividend date was Friday, April 4th. This represents a $2.48 dividend on an annualized basis and a yield of 5.32%. Bristol-Myers Squibb’s dividend payout ratio is currently 92.88%.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Piper Sandler began coverage on Bristol-Myers Squibb in a report on Tuesday, April 22nd. They issued an “overweight” rating and a $65.00 price objective for the company. Argus upgraded shares of Bristol-Myers Squibb to a “hold” rating in a report on Friday, April 25th. The Goldman Sachs Group reiterated a “neutral” rating and set a $55.00 price objective (down from $67.00) on shares of Bristol-Myers Squibb in a research note on Tuesday, April 8th. Jefferies Financial Group cut their price objective on shares of Bristol-Myers Squibb from $70.00 to $68.00 and set a “buy” rating on the stock in a report on Wednesday, April 23rd. Finally, Wells Fargo & Company upped their target price 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. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating, five have assigned a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Bristol-Myers Squibb presently has an average rating of “Hold” and a consensus price target of $58.00.

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.