Nissay Asset Management Corp Japan ADV Sells 5,090 Shares of Bristol-Myers Squibb (NYSE:BMY)

Nissay Asset Management Corp Japan ADV lessened its stake in Bristol-Myers Squibb (NYSE:BMY) by 1.9% in the fourth quarter, HoldingsChannel reports. The fund owned 257,222 shares of the biopharmaceutical company’s stock after selling 5,090 shares during the period. Nissay Asset Management Corp Japan ADV’s holdings in Bristol-Myers Squibb were worth $14,837,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Fairway Wealth LLC bought a new stake in shares of Bristol-Myers Squibb in the 4th quarter valued at about $28,000. Transce3nd LLC bought a new stake in shares of Bristol-Myers Squibb in the 4th quarter valued at about $28,000. Comprehensive Financial Planning Inc. PA bought a new stake in shares of Bristol-Myers Squibb in the 4th quarter valued at about $34,000. Westend Capital Management LLC bought a new stake in shares of Bristol-Myers Squibb in the 4th quarter valued at about $38,000. Finally, Tacita Capital Inc bought a new stake in shares of Bristol-Myers Squibb in the 4th quarter valued at about $39,000. Institutional investors own 76.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Citigroup boosted their target price on Bristol-Myers Squibb from $60.00 to $65.00 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. UBS Group reduced their price target on Bristol-Myers Squibb from $60.00 to $54.00 and set a “neutral” rating on the stock in a report on Friday, April 11th. William Blair restated a “market perform” rating on shares of Bristol-Myers Squibb in a report on Friday, April 25th. The Goldman Sachs Group restated a “neutral” rating and set a $55.00 price target (down previously from $67.00) on shares of Bristol-Myers Squibb in a report on Tuesday, April 8th. Finally, Jefferies Financial Group reduced their price target on Bristol-Myers Squibb from $70.00 to $68.00 and set a “buy” rating on the stock in a report on Wednesday, April 23rd. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, five have issued a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, Bristol-Myers Squibb presently has an average rating of “Hold” and a consensus price target of $58.00.

Insider Transactions at Bristol-Myers Squibb

In related news, EVP Samit Hirawat purchased 4,250 shares of the company’s stock in a transaction dated Friday, April 25th. The shares were purchased at an average cost of $47.58 per share, with a total value of $202,215.00. Following the transaction, the executive vice president now directly owns 83,513 shares in the company, 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. Insiders own 0.09% of the company’s stock.

Bristol-Myers Squibb Stock Down 5.4%

BMY stock opened at $44.06 on Thursday. Bristol-Myers Squibb has a fifty-two week low of $39.35 and a fifty-two week high of $63.33. The business’s 50 day moving average price is $53.69 and its two-hundred day moving average price is $56.06. 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 company has a market capitalization of $89.67 billion, a price-to-earnings ratio of -9.97, a price-to-earnings-growth ratio of 2.07 and a beta of 0.39.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.80 EPS for the quarter, topping analysts’ consensus estimates of $1.50 by $0.30. Bristol-Myers Squibb had a positive return on equity of 13.93% and a negative net margin of 18.53%. The firm had revenue of $11.20 billion for the quarter, compared to analysts’ expectations of $10.77 billion. During the same period in the previous year, the firm posted ($4.40) EPS. The business’s revenue for the quarter was down 5.6% compared to the same quarter last year. As a group, 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 was paid on Thursday, May 1st. Stockholders of record on Friday, April 4th were given a $0.62 dividend. The ex-dividend date was Friday, April 4th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 5.63%. Bristol-Myers Squibb’s dividend payout ratio is currently 92.88%.

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.