Investors Research Corp Reduces Stock Position in Bristol-Myers Squibb (NYSE:BMY)

Investors Research Corp cut its stake in Bristol-Myers Squibb (NYSE:BMY) by 4.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,756 shares of the biopharmaceutical company’s stock after selling 413 shares during the period. Investors Research Corp’s holdings in Bristol-Myers Squibb were worth $534,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in BMY. LaFleur & Godfrey LLC grew its position in shares of Bristol-Myers Squibb by 3.5% in the fourth quarter. LaFleur & Godfrey LLC now owns 43,551 shares of the biopharmaceutical company’s stock valued at $2,463,000 after purchasing an additional 1,487 shares in the last quarter. Brighton Jones LLC lifted its holdings in Bristol-Myers Squibb by 33.4% in the fourth quarter. Brighton Jones LLC now owns 19,728 shares of the biopharmaceutical company’s stock valued at $1,116,000 after acquiring an additional 4,935 shares during the last quarter. R Squared Ltd acquired a new position in Bristol-Myers Squibb in the fourth quarter valued at approximately $40,000. Strategic Blueprint LLC lifted its holdings in Bristol-Myers Squibb by 4.1% in the fourth quarter. Strategic Blueprint LLC now owns 12,684 shares of the biopharmaceutical company’s stock valued at $717,000 after acquiring an additional 502 shares during the last quarter. Finally, Foster & Motley Inc. lifted its holdings in Bristol-Myers Squibb by 25.6% in the fourth quarter. Foster & Motley Inc. now owns 32,842 shares of the biopharmaceutical company’s stock valued at $1,858,000 after acquiring an additional 6,684 shares during the last quarter. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Piper Sandler assumed coverage on Bristol-Myers Squibb in a report on Tuesday, April 22nd. They issued an “overweight” rating and a $65.00 price objective on the stock. Argus upgraded Bristol-Myers Squibb to a “hold” rating in a report on Friday, April 25th. William Blair restated a “market perform” rating on shares of Bristol-Myers Squibb in a research note on Friday, April 25th. UBS Group decreased their price target on Bristol-Myers Squibb from $60.00 to $54.00 and set a “neutral” rating on the stock in a research note on Friday, April 11th. Finally, The Goldman Sachs Group restated a “neutral” rating and set a $55.00 price target (down from $67.00) on shares of Bristol-Myers Squibb in a research note on Tuesday, April 8th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, five have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, Bristol-Myers Squibb presently has a consensus rating of “Hold” and a consensus target price of $58.00.

Bristol-Myers Squibb Stock Up 0.9%

Shares of NYSE BMY opened at $48.26 on Friday. The stock has a market cap of $98.21 billion, a P/E ratio of -10.92, a PEG ratio of 2.07 and a beta of 0.39. The company has a current ratio of 1.25, a quick ratio of 1.15 and a debt-to-equity ratio of 2.90. Bristol-Myers Squibb has a 12-month low of $39.35 and a 12-month high of $63.33. The business’s fifty day simple moving average is $50.49 and its 200-day simple moving average is $55.39.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.80 earnings per share for the quarter, beating analysts’ consensus estimates of $1.50 by $0.30. Bristol-Myers Squibb had a positive return on equity of 13.93% and a negative net margin of 18.53%. The company had revenue of $11.20 billion for the quarter, compared to analysts’ expectations of $10.77 billion. During the same period last year, the firm earned ($4.40) earnings per share. Bristol-Myers Squibb’s quarterly revenue was down 5.6% on a year-over-year basis. As a group, equities analysts predict that Bristol-Myers Squibb will post 6.74 EPS for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Friday, April 4th were paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 5.14%. The ex-dividend date was Friday, April 4th. Bristol-Myers Squibb’s dividend payout ratio is presently 92.88%.

Insider Buying and Selling at Bristol-Myers Squibb

In other news, EVP Samit Hirawat bought 4,250 shares of the business’s 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 completion of the transaction, the executive vice president now owns 83,513 shares of the company’s stock, valued at approximately $3,973,548.54. This trade represents a 5.36% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.09% of the stock is owned by insiders.

Bristol-Myers Squibb 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.