Selway Asset Management Sells 1,500 Shares of Bristol-Myers Squibb (NYSE:BMY)

Selway Asset Management decreased its holdings in Bristol-Myers Squibb (NYSE:BMY) by 9.5% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 14,331 shares of the biopharmaceutical company’s stock after selling 1,500 shares during the period. Selway Asset Management’s holdings in Bristol-Myers Squibb were worth $811,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently made changes to their positions in the stock. Norges Bank bought a new stake in shares of Bristol-Myers Squibb during the 4th quarter valued at about $1,989,525,000. Wellington Management Group LLP raised its holdings in Bristol-Myers Squibb by 3,880.0% in the 4th quarter. Wellington Management Group LLP now owns 5,977,505 shares of the biopharmaceutical company’s stock worth $338,088,000 after purchasing an additional 5,827,317 shares during the period. Raymond James Financial Inc. purchased a new position in Bristol-Myers Squibb during the fourth quarter valued at $257,618,000. Schroder Investment Management Group grew its holdings in Bristol-Myers Squibb by 49.7% during the fourth quarter. Schroder Investment Management Group now owns 11,413,428 shares of the biopharmaceutical company’s stock valued at $639,837,000 after purchasing an additional 3,787,075 shares during the period. Finally, Janus Henderson Group PLC increased its position in Bristol-Myers Squibb by 695.1% in the third quarter. Janus Henderson Group PLC now owns 3,554,758 shares of the biopharmaceutical company’s stock worth $183,971,000 after buying an additional 3,107,672 shares in the last quarter. 76.41% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

BMY has been the topic of a number of analyst reports. Cantor Fitzgerald lifted their price objective on Bristol-Myers Squibb from $50.00 to $55.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. Bank of America reiterated a “neutral” rating and issued a $63.00 price target on shares of Bristol-Myers Squibb in a research report on Tuesday, December 10th. 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 report on Tuesday, January 28th. Jefferies Financial Group upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and lifted their target price for the company from $63.00 to $70.00 in a research note on Monday, December 16th. Finally, Wells Fargo & Company raised their price target on Bristol-Myers Squibb from $60.00 to $62.00 and gave the company an “equal weight” rating in a report on Friday, February 7th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, four have assigned a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat, Bristol-Myers Squibb presently has a consensus rating of “Hold” and a consensus price target of $57.86.

Insiders Place Their Bets

In related news, EVP Samit Hirawat bought 1,823 shares of the company’s stock in a transaction dated Friday, February 14th. The stock was purchased at an average price of $54.84 per share, for a total transaction of $99,973.32. Following the acquisition, the executive vice president now owns 63,932 shares in the company, 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 document filed with the SEC, which is available at this hyperlink. 0.09% of the stock is currently owned by insiders.

Bristol-Myers Squibb Stock Up 0.1 %

Shares of BMY opened at $59.59 on Thursday. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.25 and a quick ratio of 1.15. The stock has a market capitalization of $121.25 billion, a price-to-earnings ratio of -13.48, a price-to-earnings-growth ratio of 2.07 and a beta of 0.43. Bristol-Myers Squibb has a 1 year low of $39.35 and a 1 year high of $63.33. The business’s 50 day simple moving average is $58.74 and its 200-day simple moving average is $56.54.

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

Bristol-Myers Squibb Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Friday, April 4th will be given a $0.62 dividend. The ex-dividend date is Friday, April 4th. This represents a $2.48 annualized dividend and a yield of 4.16%. Bristol-Myers Squibb’s dividend payout ratio is currently -56.11%.

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.