Bristol Myers Squibb Company (NYSE:BMY) Position Lowered by KBC Group NV

KBC Group NV reduced its position in Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 5.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,849,595 shares of the biopharmaceutical company's stock after selling 205,273 shares during the quarter. Bristol Myers Squibb makes up approximately 0.7% of KBC Group NV's portfolio, making the stock its 19th biggest position. KBC Group NV owned 0.19% of Bristol Myers Squibb worth $234,787,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Polar Asset Management Partners Inc. purchased a new stake in Bristol Myers Squibb during the 4th quarter worth about $16,651,000. Avaii Wealth Management LLC increased its stake in shares of Bristol Myers Squibb by 590.9% during the first quarter. Avaii Wealth Management LLC now owns 78,597 shares of the biopharmaceutical company's stock worth $4,794,000 after buying an additional 67,221 shares during the period. Assenagon Asset Management S.A. lifted its stake in Bristol Myers Squibb by 1.4% in the first quarter. Assenagon Asset Management S.A. now owns 65,038 shares of the biopharmaceutical company's stock worth $3,967,000 after acquiring an additional 869 shares during the last quarter. Shorepoint Capital Partners LLC increased its position in shares of Bristol Myers Squibb by 2.2% in the 4th quarter. Shorepoint Capital Partners LLC now owns 58,426 shares of the biopharmaceutical company's stock valued at $3,305,000 after purchasing an additional 1,248 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in shares of Bristol Myers Squibb by 17.0% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 550,613 shares of the biopharmaceutical company's stock valued at $33,582,000 after purchasing an additional 80,087 shares in the last quarter. Institutional investors and hedge funds own 76.41% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Jefferies Financial Group dropped their target price on Bristol Myers Squibb from $70.00 to $68.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. William Blair reissued a "market perform" rating on shares of Bristol Myers Squibb in a research report on Friday, April 25th. Piper Sandler initiated 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 target on the stock. The Goldman Sachs Group restated a "neutral" rating and set a $55.00 price objective (down previously from $67.00) on shares of Bristol Myers Squibb in a research report on Tuesday, April 8th. Finally, Cantor Fitzgerald reiterated a "neutral" rating and set a $55.00 price target on shares of Bristol Myers Squibb in a research note on Tuesday, April 22nd. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $58.00.

Bristol Myers Squibb Trading Up 0.3%

NYSE BMY traded up $0.13 during mid-day trading on Wednesday, hitting $47.64. The company's stock had a trading volume of 12,259,936 shares, compared to its average volume of 12,912,429. The firm has a market capitalization of $96.95 billion, a P/E ratio of 17.84, a price-to-earnings-growth ratio of 1.37 and a beta of 0.36. The company has a debt-to-equity ratio of 2.65, a current ratio of 1.28 and a quick ratio of 1.17. Bristol Myers Squibb Company has a 52-week low of $39.35 and a 52-week high of $63.33. The stock's fifty day simple moving average is $47.80 and its two-hundred day simple moving average is $53.80.

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

Bristol Myers Squibb Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 3rd will be given a $0.62 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $2.48 dividend on an annualized basis and a yield of 5.21%. Bristol Myers Squibb's payout ratio is currently 92.88%.

Insider Buying and Selling at Bristol Myers Squibb

In other Bristol Myers Squibb news, EVP Samit Hirawat purchased 4,250 shares of the business's stock in a transaction that occurred on Friday, April 25th. The shares were acquired at an average price of $47.58 per share, for a total transaction of $202,215.00. Following the completion of the purchase, the executive vice president owned 83,513 shares in the company, valued at $3,973,548.54. The trade was a 5.36% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.07% of the stock is 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.