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American Century Companies Inc. Sells 458,861 Shares of Bristol Myers Squibb Company (NYSE:BMY)

Bristol Myers Squibb logo with Medical background

Key Points

  • American Century Companies Inc. has reduced its stake in Bristol Myers Squibb by 16.9%, selling 458,861 shares to hold a total of 2,257,352 shares worth approximately $137.68 million.
  • Several hedge funds and institutional investors have recently adjusted their positions, with Pinney & Scofield Inc. and Park Square Financial Group LLC among those acquiring new positions in the fourth quarter.
  • Bristol Myers Squibb reported a quarterly earnings per share (EPS) of $1.46, significantly exceeding analyst expectations, and announced a quarterly dividend of $0.62 per share, yielding 5.1%.
  • Looking to export and analyze Bristol Myers Squibb data? Unlock 5 Weeks of MarketBeat All Access for Just $5. Claim Your Limited-Time Discount.

American Century Companies Inc. lowered its position in Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 16.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,257,352 shares of the biopharmaceutical company's stock after selling 458,861 shares during the quarter. American Century Companies Inc. owned 0.11% of Bristol Myers Squibb worth $137,676,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Pinney & Scofield Inc. bought a new position in shares of Bristol Myers Squibb during the 4th quarter worth approximately $25,000. Park Square Financial Group LLC bought a new position in shares of Bristol Myers Squibb during the 4th quarter worth approximately $26,000. Transce3nd LLC bought a new position in shares of Bristol Myers Squibb during the 4th quarter worth approximately $28,000. Global Wealth Strategies & Associates lifted its position in shares of Bristol Myers Squibb by 137.5% during the 1st quarter. Global Wealth Strategies & Associates now owns 475 shares of the biopharmaceutical company's stock worth $29,000 after buying an additional 275 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Bristol Myers Squibb during the 1st quarter worth approximately $31,000. Institutional investors own 76.41% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on BMY. William Blair restated a "market perform" rating on shares of Bristol Myers Squibb in a research report on Friday, April 25th. Morgan Stanley restated a "hold" rating on shares of Bristol Myers Squibb in a research report on Thursday, July 31st. Piper Sandler began coverage on Bristol Myers Squibb in a research report on Tuesday, April 22nd. They issued an "overweight" rating and a $65.00 price objective for the company. Citigroup cut their price objective on Bristol Myers Squibb from $51.00 to $47.00 and set a "neutral" rating for the company in a research report on Friday, August 1st. Finally, Daiwa Capital Markets cut Bristol Myers Squibb from an "outperform" rating to a "neutral" rating and set a $42.00 target price for the company. in a research note on Tuesday, August 5th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Bristol Myers Squibb presently has a consensus rating of "Hold" and a consensus target price of $56.38.

Get Our Latest Report on Bristol Myers Squibb

Bristol Myers Squibb Stock Up 1.3%

NYSE:BMY opened at $48.45 on Friday. Bristol Myers Squibb Company has a 1 year low of $42.96 and a 1 year high of $63.33. The company has a current ratio of 1.21, a quick ratio of 1.11 and a debt-to-equity ratio of 2.54. The stock has a market cap of $98.62 billion, a price-to-earnings ratio of 19.54, a PEG ratio of 2.48 and a beta of 0.36. The stock has a 50-day moving average price of $47.23 and a two-hundred day moving average price of $51.45.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last posted its earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.07 by $0.39. The firm had revenue of $12.27 billion during the quarter, compared to analysts' expectations of $11.32 billion. Bristol Myers Squibb had a return on equity of 80.04% and a net margin of 10.58%. The company's revenue was up .6% on a year-over-year basis. During the same period in the previous year, the firm earned $2.07 earnings per share. As a group, equities analysts expect that Bristol Myers Squibb Company will post 6.74 earnings per share for the current year.

Bristol Myers Squibb Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Thursday, July 3rd were issued a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 5.1%. The ex-dividend date was Thursday, July 3rd. Bristol Myers Squibb's dividend payout ratio is presently 100.00%.

Bristol Myers Squibb Profile

(Free Report)

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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Want to see what other hedge funds are holding BMY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bristol Myers Squibb Company (NYSE:BMY - Free Report).

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

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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