Baxter Bros Inc. Trims Position in Bristol-Myers Squibb (NYSE:BMY)

Baxter Bros Inc. trimmed its position in Bristol-Myers Squibb (NYSE:BMY) by 5.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 13,248 shares of the biopharmaceutical company’s stock after selling 702 shares during the period. Baxter Bros Inc.’s holdings in Bristol-Myers Squibb were worth $749,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. United Bank grew its position in shares of Bristol-Myers Squibb by 2.7% during the 3rd quarter. United Bank now owns 17,322 shares of the biopharmaceutical company’s stock valued at $896,000 after acquiring an additional 456 shares during the period. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Bristol-Myers Squibb in the third quarter worth about $3,579,000. Landscape Capital Management L.L.C. bought a new position in shares of Bristol-Myers Squibb in the third quarter worth about $319,000. Eagle Asset Management Inc. purchased a new position in shares of Bristol-Myers Squibb during the 3rd quarter valued at about $2,961,000. Finally, Great Valley Advisor Group Inc. grew its stake in shares of Bristol-Myers Squibb by 11.0% during the 3rd quarter. Great Valley Advisor Group Inc. now owns 34,970 shares of the biopharmaceutical company’s stock valued at $1,809,000 after acquiring an additional 3,471 shares during the period. 76.41% of the stock is currently owned by institutional investors.

Bristol-Myers Squibb Price Performance

Bristol-Myers Squibb stock opened at $61.09 on Tuesday. Bristol-Myers Squibb has a 12-month low of $39.35 and a 12-month high of $63.33. The company has a current ratio of 1.25, a quick ratio of 1.15 and a debt-to-equity ratio of 2.90. The firm has a market capitalization of $123.98 billion, a PE ratio of -13.82, a price-to-earnings-growth ratio of 2.07 and a beta of 0.43. The firm has a 50-day moving average price of $58.29 and a 200-day moving average price of $56.05.

Bristol-Myers Squibb (NYSE:BMY) last released its earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share for the quarter, topping analysts’ consensus estimates 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%. As a group, equities research analysts forecast that Bristol-Myers Squibb will post 6.74 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Friday, April 4th will be given 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 4.06%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is -56.11%.

Analysts Set New Price Targets

BMY has been the topic of several analyst reports. Wells Fargo & Company lifted their price target on shares of Bristol-Myers Squibb from $60.00 to $62.00 and gave the company an “equal weight” rating in a report on Friday, February 7th. Citigroup lifted their target price on shares of Bristol-Myers Squibb from $60.00 to $65.00 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. Truist Financial increased their price target 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. Jefferies Financial Group upgraded Bristol-Myers Squibb from a “hold” rating to a “buy” rating and boosted their price objective for the company from $63.00 to $70.00 in a research report on Monday, December 16th. Finally, Cantor Fitzgerald increased their target price on Bristol-Myers Squibb from $50.00 to $55.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating, four have assigned a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $57.86.

Insider Transactions at Bristol-Myers Squibb

In other news, EVP Samit Hirawat acquired 1,823 shares of Bristol-Myers Squibb stock in a transaction on Friday, February 14th. The shares were bought at an average cost of $54.84 per share, for a total transaction of $99,973.32. Following the acquisition, the executive vice president now directly owns 63,932 shares of the company’s stock, valued at $3,506,030.88. This trade represents a 2.94 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate 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.