Bristol-Myers Squibb (NYSE:BMY) Holdings Cut by ClariVest Asset Management LLC

ClariVest Asset Management LLC decreased its stake in Bristol-Myers Squibb (NYSE:BMYGet Rating) by 4.3% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 324,011 shares of the biopharmaceutical company’s stock after selling 14,400 shares during the quarter. Bristol-Myers Squibb makes up about 1.1% of ClariVest Asset Management LLC’s holdings, making the stock its 15th biggest position. ClariVest Asset Management LLC’s holdings in Bristol-Myers Squibb were worth $24,949,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. FMR LLC increased its stake in shares of Bristol-Myers Squibb by 7.2% during the 2nd quarter. FMR LLC now owns 71,882,436 shares of the biopharmaceutical company’s stock worth $5,534,947,000 after purchasing an additional 4,855,169 shares during the last quarter. Capital International Investors acquired a new position in Bristol-Myers Squibb in the 1st quarter valued at $1,672,455,000. Primecap Management Co. CA grew its stake in Bristol-Myers Squibb by 1.2% in the 1st quarter. Primecap Management Co. CA now owns 22,370,375 shares of the biopharmaceutical company’s stock valued at $1,633,708,000 after buying an additional 255,920 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Bristol-Myers Squibb by 7.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 13,772,753 shares of the biopharmaceutical company’s stock valued at $1,005,908,000 after buying an additional 963,894 shares during the last quarter. Finally, California Public Employees Retirement System grew its stake in Bristol-Myers Squibb by 59.0% in the 1st quarter. California Public Employees Retirement System now owns 11,771,544 shares of the biopharmaceutical company’s stock valued at $859,676,000 after buying an additional 4,367,193 shares during the last quarter. Institutional investors and hedge funds own 76.54% of the company’s stock.

Insider Buying and Selling at Bristol-Myers Squibb

In other Bristol-Myers Squibb news, CFO David V. Elkins sold 133,951 shares of the firm’s stock in a transaction dated Tuesday, September 13th. The shares were sold at an average price of $71.30, for a total value of $9,550,706.30. Following the completion of the sale, the chief financial officer now owns 100,460 shares in the company, valued at approximately $7,162,798. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Bristol-Myers Squibb news, CEO Giovanni Caforio sold 50,000 shares of the firm’s stock in a transaction dated Thursday, September 15th. The shares were sold at an average price of $71.84, for a total value of $3,592,000.00. Following the completion of the sale, the chief executive officer now owns 501,104 shares in the company, valued at approximately $35,999,311.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO David V. Elkins sold 133,951 shares of the firm’s stock in a transaction dated Tuesday, September 13th. The shares were sold at an average price of $71.30, for a total transaction of $9,550,706.30. Following the completion of the sale, the chief financial officer now owns 100,460 shares of the company’s stock, valued at approximately $7,162,798. The disclosure for this sale can be found here. In the last 90 days, insiders sold 296,111 shares of company stock worth $21,582,900. 0.09% of the stock is currently owned by corporate insiders.

Bristol-Myers Squibb Price Performance

BMY stock traded up $0.28 during trading on Thursday, hitting $79.14. 5,700,281 shares of the stock traded hands, compared to its average volume of 9,966,491. Bristol-Myers Squibb has a one year low of $53.22 and a one year high of $81.17. The stock has a market cap of $168.26 billion, a price-to-earnings ratio of 25.78, a P/E/G ratio of 1.86 and a beta of 0.40. The company has a 50 day simple moving average of $73.70 and a 200 day simple moving average of $74.07. The company has a current ratio of 1.42, a quick ratio of 1.31 and a debt-to-equity ratio of 1.13.

Bristol-Myers Squibb (NYSE:BMYGet Rating) last announced its quarterly earnings results on Wednesday, October 26th. The biopharmaceutical company reported $1.99 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $11.18 billion. During the same period last year, the firm posted $2.00 EPS. The firm’s quarterly revenue was down 3.5% on a year-over-year basis. Equities analysts expect that Bristol-Myers Squibb will post 7.6 EPS for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

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

Wall Street Analyst Weigh In

BMY has been the topic of a number of research analyst reports. UBS Group raised their target price on shares of Bristol-Myers Squibb to $73.00 and gave the company an “outperform” rating in a research note on Wednesday, July 27th. Barclays lowered their target price on shares of Bristol-Myers Squibb from $69.00 to $66.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 12th. Credit Suisse Group began coverage on shares of Bristol-Myers Squibb in a research note on Thursday, November 17th. They issued a “neutral” rating and a $78.00 target price on the stock. Atlantic Securities raised their price target on shares of Bristol-Myers Squibb from $85.00 to $88.00 and gave the stock an “overweight” rating in a research report on Thursday, November 10th. Finally, Berenberg Bank lowered shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating and decreased their price target for the stock from $82.00 to $76.00 in a research report on Wednesday, September 14th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $79.00.

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.

Further Reading

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

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