Man Group plc Sells 1,501,885 Shares of Bristol-Myers Squibb (NYSE:BMY)

Man Group plc trimmed its position in Bristol-Myers Squibb (NYSE:BMY) by 46.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 1,728,127 shares of the biopharmaceutical company’s stock after selling 1,501,885 shares during the period. Man Group plc owned about 0.09% of Bristol-Myers Squibb worth $97,743,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in BMY. Vanguard Group Inc. grew its position in shares of Bristol-Myers Squibb by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 189,944,516 shares of the biopharmaceutical company’s stock worth $10,743,262,000 after buying an additional 1,373,209 shares during the period. Capital International Investors grew its holdings in 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 raised 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 during the last quarter. Norges Bank acquired a new position in shares of Bristol-Myers Squibb in the 4th quarter valued at $1,989,525,000. Finally, Ameriprise Financial Inc. grew its stake in shares of Bristol-Myers Squibb by 59.9% during the fourth quarter. Ameriprise Financial Inc. now owns 32,079,246 shares of the biopharmaceutical company’s stock worth $1,814,341,000 after purchasing an additional 12,011,983 shares during the period. 76.41% of the stock is owned by institutional investors and hedge funds.

Bristol-Myers Squibb Price Performance

NYSE BMY opened at $46.58 on Wednesday. Bristol-Myers Squibb has a 12-month low of $39.35 and a 12-month high of $63.33. The firm’s 50 day moving average is $54.03 and its 200-day moving average is $56.14. The company 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. 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 issued its quarterly earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.80 EPS for the quarter, topping the consensus estimate of $1.50 by $0.30. The firm had revenue of $11.20 billion for the quarter, compared to analysts’ expectations of $10.77 billion. Bristol-Myers Squibb had a negative net margin of 18.53% and a positive return on equity of 13.93%. The company’s revenue for the quarter was down 5.6% on a year-over-year basis. During the same period in the previous year, the firm posted ($4.40) EPS. Equities research analysts anticipate that Bristol-Myers Squibb will post 6.74 earnings per share for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Friday, April 4th were issued a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 5.32%. The ex-dividend date of this dividend was Friday, April 4th. Bristol-Myers Squibb’s payout ratio is presently 92.88%.

Wall Street Analyst Weigh In

BMY has been the topic of several analyst reports. Citigroup increased their target price on Bristol-Myers Squibb from $60.00 to $65.00 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. Wells Fargo & Company lifted their price objective on shares of Bristol-Myers Squibb from $60.00 to $62.00 and gave the stock an “equal weight” rating in a research note on Friday, February 7th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $55.00 target price on shares of Bristol-Myers Squibb in a research note on Tuesday, April 22nd. Jefferies Financial Group cut their target price 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, The Goldman Sachs Group reissued a “neutral” rating and issued a $55.00 price target (down previously from $67.00) on shares of Bristol-Myers Squibb in a report on Tuesday, April 8th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating, five have given a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, Bristol-Myers Squibb currently has an average rating of “Hold” and a consensus price target of $58.00.

Insider Activity at Bristol-Myers Squibb

In other news, EVP Samit Hirawat purchased 1,823 shares of the business’s stock in a transaction on Friday, February 14th. The stock was purchased at an average price of $54.84 per share, for a total transaction of $99,973.32. Following the completion of the purchase, the executive vice president now directly owns 63,932 shares in the company, valued at $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 the SEC website. 0.09% of the stock is owned by company insiders.

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.