Sei Investments Co. Cuts Stake in Bristol-Myers Squibb (NYSE:BMY)

Sei Investments Co. lessened its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 21.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 667,159 shares of the biopharmaceutical company’s stock after selling 177,308 shares during the period. Sei Investments Co.’s holdings in Bristol-Myers Squibb were worth $37,736,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Plancorp LLC boosted its holdings in Bristol-Myers Squibb by 17.0% in the fourth quarter. Plancorp LLC now owns 11,795 shares of the biopharmaceutical company’s stock worth $667,000 after acquiring an additional 1,710 shares in the last quarter. Runnymede Capital Advisors Inc. purchased a new position in shares of Bristol-Myers Squibb in the 4th quarter valued at approximately $57,000. Mizuho Securities USA LLC grew its position in Bristol-Myers Squibb by 46.2% during the 4th quarter. Mizuho Securities USA LLC now owns 192,225 shares of the biopharmaceutical company’s stock worth $10,872,000 after purchasing an additional 60,759 shares during the last quarter. Fi3 FINANCIAL ADVISORS LLC acquired a new position in Bristol-Myers Squibb during the 4th quarter valued at approximately $201,000. Finally, Virtu Financial LLC purchased a new position in shares of Bristol-Myers Squibb in the fourth quarter worth $2,553,000. Institutional investors and hedge funds own 76.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on BMY shares. Truist Financial upped their target price on Bristol-Myers Squibb from $62.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Wells Fargo & Company increased their price objective on Bristol-Myers Squibb from $60.00 to $62.00 and gave the company an “equal weight” rating in a report on Friday, February 7th. Jefferies Financial Group raised Bristol-Myers Squibb from a “hold” rating to a “buy” rating and lifted their target price for the stock from $63.00 to $70.00 in a report on Monday, December 16th. Citigroup increased their price target on shares of Bristol-Myers Squibb from $60.00 to $65.00 and gave the stock a “neutral” rating in a report on Tuesday, January 28th. Finally, Cantor Fitzgerald upped their price objective on shares of Bristol-Myers Squibb from $50.00 to $55.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating, four have issued a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $57.86.

Bristol-Myers Squibb Trading Up 0.0 %

Shares of BMY stock opened at $61.09 on Tuesday. Bristol-Myers Squibb has a 1-year low of $39.35 and a 1-year high of $63.33. The company has a market cap of $123.98 billion, a price-to-earnings ratio of -13.82, a PEG ratio of 2.07 and a beta of 0.43. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.25 and a quick ratio of 1.15. The stock has a 50 day simple moving average of $58.29 and a 200-day simple moving average of $56.05.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings data on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share (EPS) 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%. On average, equities research analysts expect that Bristol-Myers Squibb will post 6.74 EPS for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Friday, April 4th will be issued a dividend of $0.62 per share. The ex-dividend date is Friday, April 4th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.06%. Bristol-Myers Squibb’s payout ratio is currently -56.11%.

Insider Activity

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 stock was purchased at an average cost of $54.84 per share, with a total value of $99,973.32. Following the purchase, the executive vice president now owns 63,932 shares in the company, valued at $3,506,030.88. This trade represents a 2.94 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.09% of the company’s stock.

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.