Man Group plc Has $97.74 Million Stake in Bristol-Myers Squibb (NYSE:BMY)

Man Group plc cut its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 46.5% during the fourth quarter, Holdings Channel reports. The fund owned 1,728,127 shares of the biopharmaceutical company’s stock after selling 1,501,885 shares during the quarter. Man Group plc’s holdings in Bristol-Myers Squibb were worth $97,743,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Fairway Wealth LLC bought a new position in shares of Bristol-Myers Squibb in the fourth quarter valued at about $28,000. Transce3nd LLC acquired a new position in Bristol-Myers Squibb in the 4th quarter valued at about $28,000. Comprehensive Financial Planning Inc. PA bought a new position in Bristol-Myers Squibb in the 4th quarter valued at about $34,000. Westend Capital Management LLC acquired a new stake in Bristol-Myers Squibb during the fourth quarter worth approximately $38,000. Finally, Tacita Capital Inc bought a new stake in shares of Bristol-Myers Squibb during the fourth quarter worth approximately $39,000. Institutional investors own 76.41% of the company’s stock.

Insider Buying and Selling

In other news, EVP Samit Hirawat bought 1,823 shares of the company’s stock in a transaction on Friday, February 14th. The stock was purchased at an average cost of $54.84 per share, for a total transaction of $99,973.32. Following the completion of the transaction, the executive vice president now owns 63,932 shares of the company’s stock, 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 legal filing with the SEC, which is available at this link. 0.09% of the stock is currently owned by corporate insiders.

Bristol-Myers Squibb Stock Performance

Bristol-Myers Squibb stock opened at $46.58 on Wednesday. The stock has a market cap of $94.79 billion, a PE ratio of -10.54, a P/E/G ratio of 2.07 and a beta of 0.39. The company has a quick ratio of 1.15, a current ratio of 1.25 and a debt-to-equity ratio of 2.90. Bristol-Myers Squibb has a 12-month low of $39.35 and a 12-month high of $63.33. The business’s 50-day moving average price is $54.03 and its two-hundred day moving average price is $56.14.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings data on Thursday, April 24th. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.50 by $0.30. The business had revenue of $11.20 billion during the quarter, compared to analysts’ expectations of $10.77 billion. Bristol-Myers Squibb had a negative net margin of 18.53% and a positive return on equity of 13.93%. The firm’s quarterly revenue was down 5.6% compared to the same quarter last year. During the same period in the prior year, the company earned ($4.40) EPS. As a group, analysts expect that Bristol-Myers Squibb will post 6.74 earnings per share for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Friday, April 4th were issued a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 5.32%. The ex-dividend date was Friday, April 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is 92.88%.

Analyst Ratings Changes

Several research firms recently weighed in on BMY. Citigroup lifted their price target on Bristol-Myers Squibb from $60.00 to $65.00 and gave the stock a “neutral” rating in a report on Tuesday, January 28th. Argus raised Bristol-Myers Squibb to a “hold” rating in a report on Friday, April 25th. UBS Group reduced their target price on shares of Bristol-Myers Squibb from $60.00 to $54.00 and set a “neutral” rating for the company in a research report on Friday, April 11th. Wells Fargo & Company raised their price target on shares of Bristol-Myers Squibb from $60.00 to $62.00 and gave the stock an “equal weight” rating in a research report on Friday, February 7th. Finally, Piper Sandler initiated coverage on shares of Bristol-Myers Squibb in a research report on Tuesday, April 22nd. They set an “overweight” rating and a $65.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, five have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $58.00.

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.