Baird Financial Group Inc. Sells 39,146 Shares of Bristol-Myers Squibb (NYSE:BMY)

Baird Financial Group Inc. lowered its stake in shares of Bristol-Myers Squibb (NYSE:BMY - Free Report) by 7.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 506,401 shares of the biopharmaceutical company's stock after selling 39,146 shares during the quarter. Baird Financial Group Inc.'s holdings in Bristol-Myers Squibb were worth $28,642,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Truist Financial Corp raised its stake in shares of Bristol-Myers Squibb by 3.9% during the 4th quarter. Truist Financial Corp now owns 1,597,150 shares of the biopharmaceutical company's stock worth $90,335,000 after acquiring an additional 60,365 shares in the last quarter. Contravisory Investment Management Inc. acquired a new position in shares of Bristol-Myers Squibb during the fourth quarter worth $488,000. Decker Retirement Planning Inc. purchased a new stake in shares of Bristol-Myers Squibb during the 4th quarter valued at $474,000. Corundum Group Inc. boosted its position in shares of Bristol-Myers Squibb by 67.8% in the 4th quarter. Corundum Group Inc. now owns 43,534 shares of the biopharmaceutical company's stock worth $2,462,000 after purchasing an additional 17,596 shares in the last quarter. Finally, High Net Worth Advisory Group LLC increased its position in Bristol-Myers Squibb by 42.2% during the 4th quarter. High Net Worth Advisory Group LLC now owns 16,974 shares of the biopharmaceutical company's stock valued at $960,000 after buying an additional 5,040 shares in the last quarter. Hedge funds and other institutional investors own 76.41% of the company's stock.

Analysts Set New Price Targets

A number of research firms have issued reports on BMY. Argus raised shares of Bristol-Myers Squibb to a "hold" rating in a report on Friday, April 25th. UBS Group cut their price objective 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. Truist Financial lifted their target price on Bristol-Myers Squibb from $62.00 to $65.00 and gave the stock a "buy" rating in a report on Wednesday, January 8th. The Goldman Sachs Group reissued a "neutral" rating and set a $55.00 price target (down from $67.00) on shares of Bristol-Myers Squibb in a research report on Tuesday, April 8th. Finally, Jefferies Financial Group dropped their price objective on shares of 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 issued a hold rating, five have assigned a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $58.00.

Bristol-Myers Squibb Stock Performance

Shares of NYSE:BMY opened at $50.05 on Tuesday. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.25 and a quick ratio of 1.15. Bristol-Myers Squibb has a 1 year low of $39.35 and a 1 year high of $63.33. The firm has a market capitalization of $101.86 billion, a PE ratio of -11.32, a P/E/G ratio of 2.07 and a beta of 0.39. The business's 50 day moving average price is $55.53 and its 200-day moving average price is $56.39.

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last released its earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.50 by $0.30. The business had revenue of $11.20 billion during the quarter, compared to analyst estimates of $10.77 billion. Bristol-Myers Squibb had a negative net margin of 18.53% and a positive return on equity of 13.93%. The company's revenue for the quarter was down 5.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($4.40) earnings per share. As a group, equities research analysts expect that Bristol-Myers Squibb will post 6.74 earnings per share for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Friday, April 4th were paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 4.96%. The ex-dividend date was Friday, April 4th. Bristol-Myers Squibb's dividend payout ratio (DPR) is 92.88%.

Insider Transactions at Bristol-Myers Squibb

In related news, EVP Samit Hirawat bought 4,250 shares of the company's stock in a transaction on Friday, April 25th. The stock was bought at an average cost of $47.58 per share, for a total transaction of $202,215.00. Following the acquisition, the executive vice president now directly owns 83,513 shares in the company, valued at $3,973,548.54. This represents a 5.36 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 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.

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