Bristol-Myers Squibb (NYSE:BMY) Shares Sold by Peregrine Asset Advisers Inc.

Peregrine Asset Advisers Inc. cut its holdings in Bristol-Myers Squibb (NYSE:BMY) by 11.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 20,726 shares of the biopharmaceutical company’s stock after selling 2,738 shares during the period. Peregrine Asset Advisers Inc.’s holdings in Bristol-Myers Squibb were worth $1,172,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Truist Financial Corp lifted its stake in shares of Bristol-Myers Squibb by 3.9% in the 4th quarter. Truist Financial Corp now owns 1,597,150 shares of the biopharmaceutical company’s stock valued at $90,335,000 after purchasing an additional 60,365 shares during the last quarter. Contravisory Investment Management Inc. purchased a new stake in Bristol-Myers Squibb in the 4th quarter valued at about $488,000. Inspire Trust Co. N.A. lifted its position in Bristol-Myers Squibb by 39.0% in the third quarter. Inspire Trust Co. N.A. now owns 103,500 shares of the biopharmaceutical company’s stock valued at $5,355,000 after buying an additional 29,044 shares during the last quarter. Patriot Financial Group Insurance Agency LLC boosted its stake in Bristol-Myers Squibb by 3.8% during the third quarter. Patriot Financial Group Insurance Agency LLC now owns 5,595 shares of the biopharmaceutical company’s stock worth $289,000 after buying an additional 206 shares during the period. Finally, Sheaff Brock Investment Advisors LLC increased its position in shares of Bristol-Myers Squibb by 34.3% during the third quarter. Sheaff Brock Investment Advisors LLC now owns 44,546 shares of the biopharmaceutical company’s stock valued at $2,305,000 after acquiring an additional 11,387 shares during the last quarter. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Bristol-Myers Squibb

In related news, EVP Samit Hirawat acquired 1,823 shares of Bristol-Myers Squibb stock in a transaction dated Friday, February 14th. The stock was acquired at an average price of $54.84 per share, for a total transaction of $99,973.32. Following the transaction, the executive vice president now owns 63,932 shares of the company’s stock, valued at $3,506,030.88. This represents a 2.94 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.09% of the stock is currently owned by insiders.

Bristol-Myers Squibb Trading Up 0.1 %

Shares of NYSE:BMY opened at $55.85 on Friday. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $61.10. The company’s 50 day moving average is $56.99 and its two-hundred day moving average is $54.30. The company has a market cap of $113.33 billion, a PE ratio of -12.63, a P/E/G ratio of 2.04 and a beta of 0.45. 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 (NYSE:BMY) last posted its earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 EPS for the quarter, beating the consensus estimate of $1.47 by $0.20. Bristol-Myers Squibb had a positive return on equity of 13.93% and a negative net margin of 18.53%. Equities analysts predict that Bristol-Myers Squibb will post 6.74 earnings per share for the current fiscal year.

Bristol-Myers Squibb Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, January 3rd were issued a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 4.44%. This is an increase from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend was Friday, January 3rd. Bristol-Myers Squibb’s dividend payout ratio is -56.11%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on BMY shares. Morgan Stanley upped their price objective on shares of Bristol-Myers Squibb from $36.00 to $39.00 and gave the stock an “underweight” rating in a report on Tuesday, November 12th. Jefferies Financial Group upgraded Bristol-Myers Squibb from a “hold” rating to a “buy” rating and upped their price target for the stock from $63.00 to $70.00 in a research note on Monday, December 16th. Truist Financial lifted their price objective on Bristol-Myers Squibb from $62.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Citigroup increased their target price on Bristol-Myers Squibb from $60.00 to $65.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 28th. Finally, BMO Capital Markets lifted their target price on Bristol-Myers Squibb from $57.00 to $61.00 and gave the company a “market perform” rating in a research report on Tuesday, November 12th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, four have assigned a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $57.86.

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.