Courier Capital LLC Reduces Stock Holdings in Bristol-Myers Squibb (NYSE:BMY)

Courier Capital LLC lessened its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 10.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 38,439 shares of the biopharmaceutical company’s stock after selling 4,607 shares during the quarter. Courier Capital LLC’s holdings in Bristol-Myers Squibb were worth $2,174,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of BMY. FMR LLC lifted its position in Bristol-Myers Squibb by 10.5% in the third quarter. FMR LLC now owns 44,940,609 shares of the biopharmaceutical company’s stock valued at $2,325,227,000 after acquiring an additional 4,275,787 shares during the last quarter. Jennison Associates LLC increased its position in shares of Bristol-Myers Squibb by 420.1% during the third quarter. Jennison Associates LLC now owns 4,241,255 shares of the biopharmaceutical company’s stock worth $219,443,000 after purchasing an additional 3,425,789 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in shares of Bristol-Myers Squibb by 695.1% in the 3rd quarter. Janus Henderson Group PLC now owns 3,554,758 shares of the biopharmaceutical company’s stock valued at $183,971,000 after purchasing an additional 3,107,672 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Bristol-Myers Squibb by 18.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 19,074,823 shares of the biopharmaceutical company’s stock valued at $986,931,000 after purchasing an additional 3,002,418 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in Bristol-Myers Squibb by 3.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 61,030,403 shares of the biopharmaceutical company’s stock worth $3,157,713,000 after buying an additional 1,968,729 shares during the period. Institutional investors and hedge funds own 76.41% of the company’s stock.

Bristol-Myers Squibb Trading Down 0.9 %

NYSE:BMY traded down $0.48 during mid-day trading on Monday, reaching $55.35. The company’s stock had a trading volume of 7,107,596 shares, compared to its average volume of 9,632,166. The company has a debt-to-equity ratio of 2.83, a current ratio of 1.24 and a quick ratio of 1.09. The stock has a market cap of $112.26 billion, a P/E ratio of -15.42, a P/E/G ratio of 15.20 and a beta of 0.45. The company’s fifty day simple moving average is $57.44 and its two-hundred day simple moving average is $51.56. Bristol-Myers Squibb has a twelve month low of $39.35 and a twelve month high of $61.08.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 EPS for the quarter, topping the consensus estimate of $1.49 by $0.31. The firm had revenue of $11.89 billion during the quarter, compared to analyst estimates of $11.26 billion. Bristol-Myers Squibb had a negative net margin of 15.30% and a positive return on equity of 11.94%. Bristol-Myers Squibb’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.00 earnings per share. On average, equities analysts predict that Bristol-Myers Squibb will post 0.93 EPS for the current year.

Bristol-Myers Squibb Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 3rd will be issued a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.48%. This is an increase from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. The ex-dividend date is Friday, January 3rd. Bristol-Myers Squibb’s dividend payout ratio (DPR) is -69.08%.

Insider Activity

In other Bristol-Myers Squibb news, SVP Phil M. Holzer sold 700 shares of the firm’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $55.62, for a total value of $38,934.00. Following the transaction, the senior vice president now directly owns 11,760 shares of the company’s stock, valued at $654,091.20. This trade represents a 5.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Samit Hirawat bought 1,830 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was bought at an average cost of $54.67 per share, with a total value of $100,046.10. Following the transaction, the executive vice president now directly owns 62,109 shares of the company’s stock, valued at approximately $3,395,499.03. This trade represents a 3.04 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.09% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Barclays raised their target price on shares of Bristol-Myers Squibb from $42.00 to $43.00 and gave the stock an “underweight” rating in a research report on Monday, October 7th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $50.00 target price on shares of Bristol-Myers Squibb in a research note on Friday, October 18th. Daiwa America upgraded Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 13th. Leerink Partners upgraded shares of Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $55.00 to $73.00 in a research report on Tuesday, November 12th. Finally, Truist Financial lifted their target price on shares of Bristol-Myers Squibb from $62.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, four have issued a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Bristol-Myers Squibb has a consensus rating of “Hold” and a consensus price target of $56.27.

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.