Birchview Capital LP Sells 1,000 Shares of Bristol-Myers Squibb (NYSE:BMY)

Birchview Capital LP reduced its stake in Bristol-Myers Squibb (NYSE:BMY) by 0.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 685,182 shares of the biopharmaceutical company’s stock after selling 1,000 shares during the period. Bristol-Myers Squibb accounts for approximately 31.2% of Birchview Capital LP’s holdings, making the stock its biggest position. Birchview Capital LP’s holdings in Bristol-Myers Squibb were worth $38,754,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Norges Bank acquired a new position in shares of Bristol-Myers Squibb during the 4th quarter valued at $1,989,525,000. Wellington Management Group LLP grew its holdings in Bristol-Myers Squibb by 3,880.0% during the fourth quarter. Wellington Management Group LLP now owns 5,977,505 shares of the biopharmaceutical company’s stock worth $338,088,000 after acquiring an additional 5,827,317 shares during the period. Raymond James Financial Inc. bought a new stake in Bristol-Myers Squibb in the fourth quarter worth about $257,618,000. Schroder Investment Management Group lifted its holdings in Bristol-Myers Squibb by 49.7% in the 4th quarter. Schroder Investment Management Group now owns 11,413,428 shares of the biopharmaceutical company’s stock valued at $639,837,000 after acquiring an additional 3,787,075 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. boosted its position in shares of Bristol-Myers Squibb by 72.9% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 7,769,227 shares of the biopharmaceutical company’s stock valued at $439,427,000 after purchasing an additional 3,275,061 shares in the last quarter. Institutional investors and hedge funds own 76.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Cantor Fitzgerald restated a “neutral” rating and set a $55.00 target price on shares of Bristol-Myers Squibb in a report on Tuesday. Truist Financial raised their price objective on Bristol-Myers Squibb from $62.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Piper Sandler started coverage on Bristol-Myers Squibb in a research report on Tuesday. They set an “overweight” rating and a $65.00 target price on the stock. UBS Group reduced their target price on Bristol-Myers Squibb from $60.00 to $54.00 and set a “neutral” rating for the company in a report on Friday, April 11th. Finally, Wells Fargo & Company lifted their price target on 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. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, five have issued a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $58.00.

Bristol-Myers Squibb Stock Down 1.7 %

Shares of Bristol-Myers Squibb stock opened at $47.86 on Friday. The stock has a 50-day simple moving average of $56.37 and a 200-day simple moving average of $56.47. Bristol-Myers Squibb has a 52-week low of $39.35 and a 52-week high of $63.33. The firm has a market cap of $97.38 billion, a price-to-earnings ratio of -10.83, a P/E/G ratio of 2.07 and a beta of 0.41. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.25 and a quick ratio of 1.15.

Bristol-Myers Squibb (NYSE:BMY) last posted its earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.80 EPS for the quarter, topping the consensus estimate of $1.55 by $0.25. The company had revenue of $11.20 billion during the quarter, compared to the consensus estimate of $10.77 billion. Bristol-Myers Squibb had a negative net margin of 18.53% and a positive return on equity of 13.93%. During the same period in the previous year, the firm posted ($4.40) earnings per share. On average, equities research analysts expect that Bristol-Myers Squibb will post 6.74 earnings per share for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The business also recently announced 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 of this dividend is Friday, April 4th. This represents a $2.48 annualized dividend and a yield of 5.18%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently -56.11%.

Insiders Place Their Bets

In other news, EVP Samit Hirawat acquired 1,823 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The stock was acquired at an average cost of $54.84 per share, with a total value of $99,973.32. Following the acquisition, the executive vice president now owns 63,932 shares in the company, valued at approximately $3,506,030.88. This represents a 2.94 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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.