Altrinsic Global Advisors LLC Sells 68,161 Shares of Bristol-Myers Squibb (NYSE:BMY)

Altrinsic Global Advisors LLC trimmed its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 24.6% during the 4th quarter, HoldingsChannel reports. The fund owned 209,109 shares of the biopharmaceutical company’s stock after selling 68,161 shares during the quarter. Bristol-Myers Squibb makes up approximately 0.6% of Altrinsic Global Advisors LLC’s investment portfolio, making the stock its 28th biggest holding. Altrinsic Global Advisors LLC’s holdings in Bristol-Myers Squibb were worth $11,827,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in Bristol-Myers Squibb by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 189,944,516 shares of the biopharmaceutical company’s stock worth $10,743,262,000 after purchasing an additional 1,373,209 shares during the period. Capital International Investors lifted its holdings in shares of Bristol-Myers Squibb by 7.5% during the 4th quarter. Capital International Investors now owns 45,866,624 shares of the biopharmaceutical company’s stock worth $2,593,940,000 after acquiring an additional 3,218,865 shares during the period. Geode Capital Management LLC boosted its position in shares of Bristol-Myers Squibb by 2.7% during the 4th quarter. Geode Capital Management LLC now owns 44,391,247 shares of the biopharmaceutical company’s stock valued at $2,505,967,000 after acquiring an additional 1,187,231 shares in the last quarter. Norges Bank bought a new stake in Bristol-Myers Squibb in the fourth quarter valued at about $1,989,525,000. Finally, Bank of New York Mellon Corp raised its position 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 worth $1,398,948,000 after purchasing an additional 1,482,410 shares in the last quarter. Institutional investors and hedge funds own 76.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Cantor Fitzgerald reiterated a “neutral” rating and issued a $55.00 price objective on shares of Bristol-Myers Squibb in a research note on Tuesday. Citigroup upped their price target on Bristol-Myers Squibb from $60.00 to $65.00 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. The Goldman Sachs Group reissued a “neutral” rating and set a $55.00 price objective (down from $67.00) on shares of Bristol-Myers Squibb in a report on Tuesday, April 8th. Wells Fargo & Company increased their target price on shares of Bristol-Myers Squibb from $60.00 to $62.00 and gave the stock an “equal weight” rating in a research report on Friday, February 7th. Finally, Piper Sandler started coverage on shares of Bristol-Myers Squibb in a research note on Tuesday. They set an “overweight” rating and a $65.00 price objective on the stock. Two analysts have rated the stock with a sell rating, eleven have given a hold rating, five have assigned a buy rating and three have given a strong buy rating to the company. According to MarketBeat, Bristol-Myers Squibb presently has a consensus rating of “Hold” and an average target price of $58.13.

Insiders Place Their Bets

In other news, EVP Samit Hirawat acquired 1,823 shares of Bristol-Myers Squibb stock in a transaction that occurred on Friday, February 14th. The shares were acquired at an average price of $54.84 per share, with a total value of $99,973.32. Following the purchase, the executive vice president now directly owns 63,932 shares of the company’s stock, valued at $3,506,030.88. The trade was a 2.94 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.09% of the company’s stock.

Bristol-Myers Squibb Stock Performance

Shares of NYSE:BMY opened at $49.82 on Wednesday. The stock has a market capitalization of $101.37 billion, a P/E ratio of -11.27, a P/E/G ratio of 2.07 and a beta of 0.41. 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 1-year low of $39.35 and a 1-year high of $63.33. The business has a 50-day moving average price of $56.71 and a two-hundred day moving average price of $56.59.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share for the quarter, beating the consensus estimate 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%. Equities analysts predict that Bristol-Myers Squibb will post 6.74 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Friday, April 4th will be issued a $0.62 dividend. The ex-dividend date is Friday, April 4th. This represents a $2.48 dividend on an annualized basis and a yield of 4.98%. Bristol-Myers Squibb’s dividend payout ratio is presently -56.11%.

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.