Dark Forest Capital Management LP Cuts Stake in Bristol-Myers Squibb (NYSE:BMY)

Dark Forest Capital Management LP cut its stake in shares of Bristol-Myers Squibb (NYSE:BMY - Free Report) by 71.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,700 shares of the biopharmaceutical company's stock after selling 9,134 shares during the period. Dark Forest Capital Management LP's holdings in Bristol-Myers Squibb were worth $209,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Fairway Wealth LLC acquired a new position in shares of Bristol-Myers Squibb during the fourth quarter worth about $28,000. Transce3nd LLC acquired a new stake in Bristol-Myers Squibb during the 4th quarter valued at $28,000. Comprehensive Financial Planning Inc. PA acquired a new position in shares of Bristol-Myers Squibb in the fourth quarter worth about $34,000. Westend Capital Management LLC purchased a new stake in Bristol-Myers Squibb during the 4th quarter worth approximately $38,000. Finally, Tacita Capital Inc purchased a new position in shares of Bristol-Myers Squibb during the 4th quarter valued at approximately $39,000. Hedge funds and other institutional investors own 76.41% of the company's stock.

Bristol-Myers Squibb Stock Performance

Shares of BMY stock traded up $0.95 during trading on Friday, reaching $50.56. 14,165,790 shares of the company's stock were exchanged, compared to its average volume of 12,966,960. Bristol-Myers Squibb has a twelve month low of $39.35 and a twelve month high of $63.33. The stock has a market capitalization of $102.89 billion, a PE ratio of -11.44, a PEG ratio of 2.07 and a beta of 0.41. The firm's fifty day moving average price is $55.68 and its 200-day moving average price is $56.37. The company has a quick ratio of 1.15, a current ratio of 1.25 and a debt-to-equity ratio of 2.90.

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The biopharmaceutical company reported $1.80 earnings per share for the quarter, topping the consensus estimate of $1.50 by $0.30. Bristol-Myers Squibb had a negative net margin of 18.53% and a positive return on equity of 13.93%. The business had revenue of $11.20 billion during the quarter, compared to analysts' expectations of $10.77 billion. During the same quarter in the previous year, the company earned ($4.40) EPS. The business's revenue was down 5.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Bristol-Myers Squibb will post 6.74 EPS for the current year.

Bristol-Myers Squibb Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Friday, April 4th were issued a dividend of $0.62 per share. The ex-dividend date of this dividend was Friday, April 4th. This represents a $2.48 annualized dividend and a dividend yield of 4.91%. Bristol-Myers Squibb's dividend payout ratio is currently 92.88%.

Insider Transactions at Bristol-Myers Squibb

In other Bristol-Myers Squibb news, EVP Samit Hirawat acquired 4,250 shares of Bristol-Myers Squibb stock in a transaction dated Friday, April 25th. The stock was purchased at an average cost of $47.58 per share, for a total transaction of $202,215.00. Following the completion of the acquisition, the executive vice president now directly owns 83,513 shares of the company's stock, valued at $3,973,548.54. This represents a 5.36 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.09% of the company's stock.

Analyst Ratings Changes

Several brokerages have issued reports on BMY. Jefferies Financial Group cut their price objective on Bristol-Myers Squibb from $70.00 to $68.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. Wells Fargo & Company increased 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 note on Friday, February 7th. The Goldman Sachs Group reiterated a "neutral" rating and issued a $55.00 target price (down from $67.00) on shares of Bristol-Myers Squibb in a research note on Tuesday, April 8th. Truist Financial raised their target price on Bristol-Myers Squibb from $62.00 to $65.00 and gave the company a "buy" rating in a research report on Wednesday, January 8th. Finally, Piper Sandler started coverage on shares of Bristol-Myers Squibb in a research note on Tuesday, April 22nd. They issued an "overweight" rating and a $65.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, five have given a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $58.00.

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.