Bristol-Myers Squibb (NYSE:BMY) Shares Sold by Edmond DE Rothschild Holding S.A.

Edmond DE Rothschild Holding S.A. cut its position in shares of Bristol-Myers Squibb (NYSE:BMYGet Rating) by 10.8% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 413,987 shares of the biopharmaceutical company’s stock after selling 50,201 shares during the quarter. Edmond DE Rothschild Holding S.A.’s holdings in Bristol-Myers Squibb were worth $31,877,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Brown Advisory Inc. grew its stake in shares of Bristol-Myers Squibb by 3.9% in the 2nd quarter. Brown Advisory Inc. now owns 256,514 shares of the biopharmaceutical company’s stock worth $18,237,000 after purchasing an additional 9,635 shares during the last quarter. Strategic Wealth Advisors Group LLC increased its holdings in shares of Bristol-Myers Squibb by 9.4% in the first quarter. Strategic Wealth Advisors Group LLC now owns 34,734 shares of the biopharmaceutical company’s stock valued at $2,548,000 after buying an additional 2,978 shares in the last quarter. Stansberry Asset Management LLC lifted its stake in Bristol-Myers Squibb by 4.1% during the first quarter. Stansberry Asset Management LLC now owns 203,194 shares of the biopharmaceutical company’s stock valued at $14,839,000 after buying an additional 7,910 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in Bristol-Myers Squibb by 25.1% in the 1st quarter. Envestnet Asset Management Inc. now owns 2,470,096 shares of the biopharmaceutical company’s stock worth $180,391,000 after purchasing an additional 495,410 shares during the period. Finally, American Trust purchased a new position in shares of Bristol-Myers Squibb during the first quarter valued at $368,000. Institutional investors own 76.54% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Barclays reduced their price objective on Bristol-Myers Squibb from $69.00 to $66.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 12th. JPMorgan Chase & Co. lifted their target price on shares of Bristol-Myers Squibb from $80.00 to $85.00 in a research note on Thursday, July 28th. Berenberg Bank lowered shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating and dropped their price target for the stock from $82.00 to $76.00 in a research note on Wednesday, September 14th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $85.00 price target on shares of Bristol-Myers Squibb in a research report on Tuesday, September 27th. Finally, StockNews.com initiated coverage on shares of Bristol-Myers Squibb in a report on Wednesday, October 12th. They set a “strong-buy” rating for the company. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Bristol-Myers Squibb currently has a consensus rating of “Moderate Buy” and a consensus target price of $79.00.

Bristol-Myers Squibb Stock Performance

Shares of NYSE:BMY traded up $0.28 during trading on Thursday, hitting $79.14. 5,700,281 shares of the stock were exchanged, compared to its average volume of 9,966,491. The company has a market capitalization of $168.26 billion, a price-to-earnings ratio of 25.78, a price-to-earnings-growth ratio of 1.86 and a beta of 0.40. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.31 and a current ratio of 1.42. Bristol-Myers Squibb has a 1-year low of $53.22 and a 1-year high of $81.17. The company’s fifty day simple moving average is $73.70 and its 200-day simple moving average is $74.07.

Bristol-Myers Squibb (NYSE:BMYGet Rating) last posted its quarterly earnings results on Wednesday, October 26th. The biopharmaceutical company reported $1.99 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.16. Bristol-Myers Squibb had a net margin of 14.29% and a return on equity of 50.30%. The firm had revenue of $11.22 billion for the quarter, compared to the consensus estimate of $11.18 billion. During the same quarter in the previous year, the company earned $2.00 earnings per share. The business’s revenue was down 3.5% compared to the same quarter last year. Sell-side analysts expect that Bristol-Myers Squibb will post 7.6 EPS for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 1st. Shareholders of record on Friday, October 7th were issued a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 2.73%. The ex-dividend date of this dividend was Thursday, October 6th. Bristol-Myers Squibb’s payout ratio is 70.36%.

Insider Activity

In related news, CFO David V. Elkins sold 133,951 shares of the business’s stock in a transaction on Tuesday, September 13th. The stock was sold at an average price of $71.30, for a total value of $9,550,706.30. Following the sale, the chief financial officer now owns 100,460 shares of the company’s stock, valued at approximately $7,162,798. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, EVP Ann Powell sold 16,250 shares of the firm’s stock in a transaction on Wednesday, November 9th. The stock was sold at an average price of $80.45, for a total transaction of $1,307,312.50. Following the completion of the sale, the executive vice president now directly owns 34,226 shares of the company’s stock, valued at approximately $2,753,481.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO David V. Elkins sold 133,951 shares of the business’s stock in a transaction on Tuesday, September 13th. The stock was sold at an average price of $71.30, for a total value of $9,550,706.30. Following the completion of the transaction, the chief financial officer now directly owns 100,460 shares in the company, valued at approximately $7,162,798. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 296,111 shares of company stock worth $21,582,900. Company insiders own 0.09% of the company’s stock.

About Bristol-Myers Squibb

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Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, and markets biopharmaceutical products worldwide. It offers products for hematology, oncology, cardiovascular, immunology, fibrotic, neuroscience, and covid-19 diseases. The company's products include Revlimid, an oral immunomodulatory drug for the treatment of multiple myeloma; Eliquis, an oral inhibitor for reduction in risk of stroke/systemic embolism in NVAF, and for the treatment of DVT/PE; Opdivo for anti-cancer indications; Pomalyst/Imnovid indicated for patients with multiple myeloma; and Orencia for adult patients with active RA and psoriatic arthritis.

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Institutional Ownership by Quarter for Bristol-Myers Squibb (NYSE:BMY)

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