Oppenheimer & Co. Inc. Decreases Stock Position in Bristol-Myers Squibb (NYSE:BMY)

Oppenheimer & Co. Inc. lowered its stake in Bristol-Myers Squibb (NYSE:BMY) by 8.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 215,220 shares of the biopharmaceutical company’s stock after selling 18,991 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Bristol-Myers Squibb were worth $12,173,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Kovack Advisors Inc. raised its position in shares of Bristol-Myers Squibb by 13.4% during the 4th quarter. Kovack Advisors Inc. now owns 19,548 shares of the biopharmaceutical company’s stock valued at $1,106,000 after buying an additional 2,306 shares in the last quarter. FUKOKU MUTUAL LIFE INSURANCE Co raised its position in shares of Bristol-Myers Squibb by 40.7% during the 4th quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 10,854 shares of the biopharmaceutical company’s stock valued at $614,000 after buying an additional 3,140 shares in the last quarter. Mn Services Vermogensbeheer B.V. raised its position in shares of Bristol-Myers Squibb by 2.4% during the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 803,754 shares of the biopharmaceutical company’s stock valued at $45,460,000 after buying an additional 18,900 shares in the last quarter. New York Life Investment Management LLC raised its position in shares of Bristol-Myers Squibb by 1.4% during the 4th quarter. New York Life Investment Management LLC now owns 315,523 shares of the biopharmaceutical company’s stock valued at $17,846,000 after buying an additional 4,219 shares in the last quarter. Finally, Lineweaver Wealth Advisors LLC purchased a new stake in shares of Bristol-Myers Squibb during the 4th quarter valued at about $1,165,000. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on BMY shares. Leerink Partners upgraded shares of Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and upped their price target for the company from $55.00 to $73.00 in a report on Tuesday, November 12th. Truist Financial upped their price target on shares of Bristol-Myers Squibb from $62.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Citigroup raised their target price 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. Morgan Stanley lifted their price objective on shares of Bristol-Myers Squibb from $36.00 to $39.00 and gave the stock an “underweight” rating in a research note on Tuesday, November 12th. Finally, Wells Fargo & Company lifted their price objective on shares of 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 equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, four have assigned a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $57.86.

Bristol-Myers Squibb Stock Performance

Shares of BMY stock opened at $57.34 on Thursday. Bristol-Myers Squibb has a one year low of $39.35 and a one year high of $61.10. The firm’s 50 day moving average price is $57.06 and its 200-day moving average price is $54.58. 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 firm has a market cap of $116.35 billion, a P/E ratio of -12.97, a P/E/G ratio of 2.07 and a beta of 0.45.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Thursday, February 6th. The biopharmaceutical company reported $1.67 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 research analysts predict that Bristol-Myers Squibb will post 6.74 EPS for the current year.

Bristol-Myers Squibb Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, January 3rd were issued a $0.62 dividend. This is a boost from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. The ex-dividend date was Friday, January 3rd. This represents a $2.48 annualized dividend and a dividend yield of 4.33%. Bristol-Myers Squibb’s dividend payout ratio is presently -56.11%.

Insider Activity

In other Bristol-Myers Squibb news, EVP Samit Hirawat purchased 1,823 shares of the firm’s stock in a transaction that occurred on 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 purchase, the executive vice president now directly owns 63,932 shares in the company, valued at approximately $3,506,030.88. This trade represents a 2.94 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.09% of the company’s stock.

About Bristol-Myers Squibb

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.