The Manufacturers Life Insurance Company Sells 87,704 Shares of Bristol-Myers Squibb (NYSE:BMY)

The Manufacturers Life Insurance Company lowered its holdings in Bristol-Myers Squibb (NYSE:BMY) by 5.1% in the 4th quarter, HoldingsChannel reports. The firm owned 1,623,370 shares of the biopharmaceutical company’s stock after selling 87,704 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Bristol-Myers Squibb were worth $91,818,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of BMY. Fairway Wealth LLC bought a new position in shares of Bristol-Myers Squibb in the 4th quarter worth $28,000. Transce3nd LLC purchased a new position in Bristol-Myers Squibb in the fourth quarter valued at about $28,000. Comprehensive Financial Planning Inc. PA bought a new position in Bristol-Myers Squibb in the fourth quarter worth about $34,000. Westend Capital Management LLC purchased a new stake in shares of Bristol-Myers Squibb during the fourth quarter valued at about $38,000. Finally, Tacita Capital Inc bought a new stake in shares of Bristol-Myers Squibb in the 4th quarter valued at about $39,000. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Insider Activity at Bristol-Myers Squibb

In other Bristol-Myers Squibb news, EVP Samit Hirawat acquired 1,823 shares of the company’s stock in a transaction on Friday, February 14th. The shares were bought at an average cost of $54.84 per share, with a total value of $99,973.32. Following the completion of the acquisition, the executive vice president now owns 63,932 shares in the company, valued at approximately $3,506,030.88. This trade represents a 2.94 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.09% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Truist Financial increased their target price on shares of Bristol-Myers Squibb from $62.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Cantor Fitzgerald reissued a “neutral” rating and issued a $55.00 price objective on shares of Bristol-Myers Squibb in a research report on Tuesday, April 22nd. William Blair reaffirmed a “market perform” rating on shares of Bristol-Myers Squibb in a research report on Friday, April 25th. 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. Finally, Wells Fargo & Company lifted their target price 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. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, five have given a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $58.00.

Bristol-Myers Squibb Stock Up 1.5 %

Shares of BMY stock opened at $49.21 on Wednesday. Bristol-Myers Squibb has a twelve month low of $39.35 and a twelve month high of $63.33. The stock has a market cap of $100.13 billion, a P/E ratio of -11.13, a P/E/G ratio of 2.07 and a beta of 0.41. The stock has a 50 day moving average of $56.11 and a 200 day moving average of $56.45. 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, April 24th. The biopharmaceutical company reported $1.80 earnings per share for the quarter, beating the consensus estimate of $1.50 by $0.30. Bristol-Myers Squibb had a negative net margin of 18.53% and a positive return on equity of 13.93%. The firm had revenue of $11.20 billion during the quarter, compared to analyst estimates of $10.77 billion. During the same period in the previous year, the firm earned ($4.40) EPS. The business’s quarterly revenue was down 5.6% on a year-over-year basis. As a group, sell-side analysts expect that Bristol-Myers Squibb will post 6.74 EPS for the current year.

Bristol-Myers Squibb Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Friday, April 4th will be given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 5.04%. The ex-dividend date of this dividend is Friday, April 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently 92.88%.

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.