Corundum Group Inc. Sells 18,196 Shares of Bristol Myers Squibb Company (NYSE:BMY)

Corundum Group Inc. trimmed its position in Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 41.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 25,338 shares of the biopharmaceutical company's stock after selling 18,196 shares during the period. Bristol Myers Squibb makes up about 0.7% of Corundum Group Inc.'s portfolio, making the stock its 27th largest holding. Corundum Group Inc.'s holdings in Bristol Myers Squibb were worth $1,545,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BMY. Norges Bank acquired a new stake in Bristol Myers Squibb during the fourth quarter valued at approximately $1,989,525,000. Ameriprise Financial Inc. lifted its position in shares of Bristol Myers Squibb by 59.9% during the 4th quarter. Ameriprise Financial Inc. now owns 32,079,246 shares of the biopharmaceutical company's stock valued at $1,814,341,000 after acquiring an additional 12,011,983 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its stake in shares of Bristol Myers Squibb by 701.2% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 12,470,106 shares of the biopharmaceutical company's stock worth $705,309,000 after acquiring an additional 10,913,708 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Bristol Myers Squibb by 3,880.0% in the 4th quarter. Wellington Management Group LLP now owns 5,977,505 shares of the biopharmaceutical company's stock worth $338,088,000 after acquiring an additional 5,827,317 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Bristol Myers Squibb during the fourth quarter worth $257,618,000. 76.41% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

BMY has been the topic of a number of analyst reports. Wall Street Zen cut Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a research note on Friday, June 6th. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $55.00 price objective on shares of Bristol Myers Squibb in a research note on Tuesday, April 22nd. Piper Sandler began coverage on shares of Bristol Myers Squibb in a research note on Tuesday, April 22nd. They set an "overweight" rating and a $65.00 target price on the stock. William Blair reaffirmed a "market perform" rating on shares of Bristol Myers Squibb in a research report on Friday, April 25th. Finally, Argus upgraded Bristol Myers Squibb to a "hold" rating in a research report on Friday, April 25th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating, six have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $58.00.

Bristol Myers Squibb Stock Up 0.0%

NYSE BMY traded up $0.00 during trading on Thursday, hitting $46.68. 7,321,269 shares of the company traded hands, compared to its average volume of 12,897,945. Bristol Myers Squibb Company has a 12 month low of $39.35 and a 12 month high of $63.33. The business has a fifty day simple moving average of $48.01 and a 200 day simple moving average of $54.11. The company has a market capitalization of $95.01 billion, a P/E ratio of 17.48, a PEG ratio of 1.38 and a beta of 0.38. The company has a current ratio of 1.28, a quick ratio of 1.17 and a debt-to-equity ratio of 2.65.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.80 EPS for the quarter, beating the consensus estimate of $1.50 by $0.30. Bristol Myers Squibb had a return on equity of 87.62% and a net margin of 11.38%. The company had revenue of $11.20 billion for the quarter, compared to the consensus estimate of $10.77 billion. During the same quarter last year, the company posted ($4.40) earnings per share. The company's revenue for the quarter was down 5.6% compared to the same quarter last year. As a group, sell-side analysts predict that Bristol Myers Squibb Company will post 6.74 EPS for the current year.

Bristol Myers Squibb Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Thursday, July 3rd will be given a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 5.31%. The ex-dividend date is Thursday, July 3rd. Bristol Myers Squibb's dividend payout ratio is currently 92.88%.

Insider Transactions at Bristol Myers Squibb

In other news, EVP Samit Hirawat bought 4,250 shares of the firm's stock in a transaction that occurred on Friday, April 25th. The shares were acquired at an average cost of $47.58 per share, with a total value of $202,215.00. Following the completion of the transaction, 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.09% of the stock is currently owned by corporate insiders.

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.