Bristol Myers Squibb Company (NYSE:BMY) Stake Cut by Hudson Edge Investment Partners Inc.

Hudson Edge Investment Partners Inc. trimmed its position in Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 10.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 114,383 shares of the biopharmaceutical company's stock after selling 13,804 shares during the quarter. Bristol Myers Squibb comprises approximately 1.4% of Hudson Edge Investment Partners Inc.'s holdings, making the stock its 10th biggest position. Hudson Edge Investment Partners Inc.'s holdings in Bristol Myers Squibb were worth $6,976,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. King Wealth Management Group lifted its holdings in shares of Bristol Myers Squibb by 2.6% in the 4th quarter. King Wealth Management Group now owns 7,294 shares of the biopharmaceutical company's stock valued at $413,000 after purchasing an additional 182 shares during the last quarter. Thoroughbred Financial Services LLC lifted its holdings in shares of Bristol Myers Squibb by 1.1% in the 4th quarter. Thoroughbred Financial Services LLC now owns 17,763 shares of the biopharmaceutical company's stock valued at $1,004,000 after purchasing an additional 190 shares during the last quarter. Marcum Wealth LLC lifted its holdings in shares of Bristol Myers Squibb by 1.0% in the 1st quarter. Marcum Wealth LLC now owns 19,296 shares of the biopharmaceutical company's stock valued at $1,177,000 after purchasing an additional 193 shares during the last quarter. Chatham Capital Group Inc. lifted its holdings in shares of Bristol Myers Squibb by 0.9% in the 4th quarter. Chatham Capital Group Inc. now owns 21,795 shares of the biopharmaceutical company's stock valued at $1,233,000 after purchasing an additional 200 shares during the last quarter. Finally, Leelyn Smith LLC lifted its holdings in shares of Bristol Myers Squibb by 0.5% in the 4th quarter. Leelyn Smith LLC now owns 47,699 shares of the biopharmaceutical company's stock valued at $2,698,000 after purchasing an additional 215 shares during the last quarter. 76.41% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Bristol Myers Squibb news, EVP Samit Hirawat bought 4,250 shares of the company's stock in a transaction on 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 acquisition, the executive vice president owned 83,513 shares of the company's stock, valued at $3,973,548.54. The trade was a 5.36% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.09% of the company's stock.

Bristol Myers Squibb Price Performance

Shares of NYSE:BMY traded down $0.62 during trading on Friday, hitting $47.02. 7,024,133 shares of the stock were exchanged, compared to its average volume of 12,882,565. The company has a fifty day moving average price of $47.73 and a two-hundred day moving average price of $53.62. The company has a market cap of $95.68 billion, a PE ratio of 17.61, a P/E/G ratio of 1.39 and a beta of 0.36. 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 Company has a 12-month low of $39.35 and a 12-month high of $63.33.

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, topping the consensus estimate of $1.50 by $0.30. The business had revenue of $11.20 billion for the quarter, compared to analyst estimates of $10.77 billion. Bristol Myers Squibb had a return on equity of 87.62% and a net margin of 11.38%. The company's quarterly revenue was down 5.6% on a year-over-year basis. During the same quarter in the previous year, the company earned ($4.40) EPS. On average, analysts forecast that Bristol Myers Squibb Company will post 6.74 EPS for the current year.

Bristol Myers Squibb Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 3rd will be issued a dividend of $0.62 per share. The ex-dividend date is Thursday, July 3rd. This represents a $2.48 annualized dividend and a yield of 5.27%. Bristol Myers Squibb's dividend payout ratio (DPR) is currently 92.88%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Cantor Fitzgerald reissued a "neutral" rating and issued a $55.00 target price on shares of Bristol Myers Squibb in a report on Tuesday, April 22nd. William Blair restated a "market perform" rating on shares of Bristol Myers Squibb in a research report on Friday, April 25th. Jefferies Financial Group dropped their price target on Bristol Myers Squibb from $70.00 to $68.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Piper Sandler initiated coverage on Bristol Myers Squibb in a research report on Tuesday, April 22nd. They issued an "overweight" rating and a $65.00 price target on the stock. Finally, UBS Group dropped their price target on Bristol Myers Squibb from $60.00 to $54.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, six have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Bristol Myers Squibb currently has an average rating of "Hold" and an average target price of $58.00.

Bristol Myers Squibb Company 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.