Intact Investment Management Inc. Decreases Stake in Bristol-Myers Squibb (NYSE:BMY)

Intact Investment Management Inc. reduced its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 81.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 55,800 shares of the biopharmaceutical company’s stock after selling 248,600 shares during the period. Intact Investment Management Inc.’s holdings in Bristol-Myers Squibb were worth $3,156,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Fairway Wealth LLC purchased a new stake in shares of Bristol-Myers Squibb during the 4th quarter worth $28,000. Darwin Wealth Management LLC purchased a new stake in shares of Bristol-Myers Squibb during the 3rd quarter worth $29,000. Dunhill Financial LLC boosted its position in shares of Bristol-Myers Squibb by 39.8% during the 3rd quarter. Dunhill Financial LLC now owns 664 shares of the biopharmaceutical company’s stock worth $34,000 after purchasing an additional 189 shares in the last quarter. Comprehensive Financial Planning Inc. PA purchased a new stake in shares of Bristol-Myers Squibb during the 4th quarter worth $34,000. Finally, Westend Capital Management LLC purchased a new stake in shares of Bristol-Myers Squibb during the 4th quarter worth $38,000. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Bank of America reiterated a “neutral” rating and issued a $63.00 price objective on shares of Bristol-Myers Squibb in a research report on Tuesday, December 10th. Wolfe Research assumed coverage on shares of Bristol-Myers Squibb in a research report on Friday, November 15th. They issued a “peer perform” rating on the stock. Wells Fargo & Company boosted their price objective on shares of Bristol-Myers Squibb from $60.00 to $62.00 and gave the stock an “equal weight” rating in a research report on Friday, February 7th. Truist Financial boosted their price objective 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. Finally, Cantor Fitzgerald boosted their price objective on shares of Bristol-Myers Squibb from $50.00 to $55.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating, four have assigned a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $57.86.

Insider Buying and Selling

In other Bristol-Myers Squibb news, EVP Samit Hirawat bought 1,823 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The stock was purchased at an average price of $54.84 per share, with a total value of $99,973.32. Following the transaction, 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 transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 0.09% of the company’s stock.

Bristol-Myers Squibb Trading Down 2.1 %

NYSE BMY opened at $59.01 on Friday. Bristol-Myers Squibb has a 12 month low of $39.35 and a 12 month high of $63.33. The company has a 50-day moving average of $57.81 and a 200-day moving average of $55.51. 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 company has a market cap of $119.75 billion, a P/E ratio of -13.35, a P/E/G ratio of 2.07 and a beta of 0.43.

Bristol-Myers Squibb (NYSE:BMY) last posted 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 analysts predict that Bristol-Myers Squibb will post 6.74 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Friday, April 4th will be paid a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.20%. The ex-dividend date of this dividend is Friday, April 4th. 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.