Bristol-Myers Squibb (NYSE:BMY) Shares Sold by Comerica Bank

Comerica Bank reduced its holdings in Bristol-Myers Squibb (NYSE:BMY) by 2.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 707,633 shares of the biopharmaceutical company’s stock after selling 14,604 shares during the quarter. Comerica Bank’s holdings in Bristol-Myers Squibb were worth $40,024,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

BMY has been the topic of several recent analyst reports. William Blair reissued a “market perform” rating on shares of Bristol-Myers Squibb in a report on Friday, April 25th. UBS Group cut their price objective 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. Truist Financial lifted their target price on Bristol-Myers Squibb from $62.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. The Goldman Sachs Group reissued a “neutral” rating and issued a $55.00 price target (down from $67.00) on shares of Bristol-Myers Squibb in a report on Tuesday, April 8th. Finally, Argus raised shares of Bristol-Myers Squibb to a “hold” rating in a research note on Friday, April 25th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, five have assigned a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $58.00.

Bristol-Myers Squibb Stock Up 2.0 %

NYSE:BMY opened at $50.21 on Thursday. The business’s fifty day moving average price is $55.99 and its 200 day moving average price is $56.41. The firm has a market capitalization of $102.17 billion, a price-to-earnings ratio of -11.36, a PEG ratio of 2.07 and a beta of 0.41. 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 has a 1-year low of $39.35 and a 1-year high of $63.33.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings results 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. Bristol-Myers Squibb had a negative net margin of 18.53% and a positive return on equity of 13.93%. The business had revenue of $11.20 billion during the quarter, compared to analyst estimates of $10.77 billion. During the same period in the prior year, the firm earned ($4.40) earnings per share. The firm’s revenue was down 5.6% compared to the same quarter last year. On average, sell-side analysts forecast 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 declared a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Friday, April 4th will be issued a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 4.94%. The ex-dividend date of this dividend is Friday, April 4th. Bristol-Myers Squibb’s dividend payout ratio is currently 92.88%.

Insider Transactions at Bristol-Myers Squibb

In other news, EVP Samit Hirawat bought 4,250 shares of the stock in a transaction on Friday, April 25th. The shares were purchased at an average price of $47.58 per share, for a total transaction of $202,215.00. Following the completion of the purchase, the executive vice president now directly owns 83,513 shares of the company’s stock, valued at $3,973,548.54. This trade represents a 5.36 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.09% of the stock is currently owned by company insiders.

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.