Cinctive Capital Management LP Sells 60,105 Shares of Bristol-Myers Squibb (NYSE:BMY)

Cinctive Capital Management LP reduced its position in Bristol-Myers Squibb (NYSE:BMY) by 20.8% during the fourth quarter, HoldingsChannel reports. The firm owned 228,343 shares of the biopharmaceutical company’s stock after selling 60,105 shares during the period. Cinctive Capital Management LP’s holdings in Bristol-Myers Squibb were worth $12,915,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of BMY. Fairway Wealth LLC acquired a new stake in Bristol-Myers Squibb during the 4th quarter worth about $28,000. Dunhill Financial LLC grew its stake in Bristol-Myers Squibb by 39.8% during the third quarter. Dunhill Financial LLC now owns 664 shares of the biopharmaceutical company’s stock worth $34,000 after purchasing an additional 189 shares during the period. Comprehensive Financial Planning Inc. PA bought a new stake in Bristol-Myers Squibb in the fourth quarter worth approximately $34,000. Westend Capital Management LLC bought a new position in shares of Bristol-Myers Squibb during the 4th quarter worth approximately $38,000. Finally, Tacita Capital Inc acquired a new stake in shares of Bristol-Myers Squibb during the 4th quarter worth approximately $39,000. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently issued reports on BMY shares. Truist Financial increased their target price on shares of Bristol-Myers Squibb from $62.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Citigroup raised their price objective 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. Bank of America reissued a “neutral” rating and issued a $63.00 price objective on shares of Bristol-Myers Squibb in a research report on Tuesday, December 10th. Cantor Fitzgerald lifted their price objective on shares of Bristol-Myers Squibb from $50.00 to $55.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Finally, Jefferies Financial Group raised shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and lifted their price target for the stock from $63.00 to $70.00 in a report on Monday, December 16th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, four have issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, Bristol-Myers Squibb presently has an average rating of “Hold” and a consensus price target of $57.86.

Bristol-Myers Squibb Trading Down 2.4 %

Shares of BMY stock opened at $59.53 on Wednesday. The company has a market capitalization of $121.13 billion, a PE ratio of -13.47, a price-to-earnings-growth ratio of 2.07 and a beta of 0.43. The company has a debt-to-equity ratio of 2.90, a quick ratio of 1.15 and a current ratio of 1.25. The business’s fifty day moving average is $58.69 and its 200 day moving average is $56.52. Bristol-Myers Squibb has a 52-week low of $39.35 and a 52-week high of $63.33.

Bristol-Myers Squibb (NYSE:BMY) last announced its earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.47 by $0.20. Bristol-Myers Squibb had a negative net margin of 18.53% and a positive return on equity of 13.93%. On average, equities research analysts anticipate that Bristol-Myers Squibb will post 6.74 EPS for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Friday, April 4th will be paid a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 4.17%. The ex-dividend date of this dividend is Friday, April 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -56.11%.

Insider Transactions at Bristol-Myers Squibb

In other news, EVP Samit Hirawat bought 1,823 shares of the business’s stock in a transaction dated Friday, February 14th. The shares were purchased at an average price of $54.84 per share, for a total transaction of $99,973.32. Following the completion of the acquisition, the executive vice president now owns 63,932 shares of the company’s stock, valued at approximately $3,506,030.88. This trade represents a 2.94 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.09% of the company’s stock.

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.