Conning Inc. Lowers Holdings in Bristol Myers Squibb Company (NYSE:BMY)

Conning Inc. decreased its position in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 8.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 595,727 shares of the biopharmaceutical company's stock after selling 54,064 shares during the quarter. Bristol Myers Squibb comprises 1.3% of Conning Inc.'s holdings, making the stock its 22nd largest holding. Conning Inc.'s holdings in Bristol Myers Squibb were worth $36,333,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of BMY. Pinney & Scofield Inc. bought a new stake in Bristol Myers Squibb during the fourth quarter worth $25,000. Park Square Financial Group LLC bought a new stake in Bristol Myers Squibb during the fourth quarter worth $26,000. Global Wealth Strategies & Associates grew its holdings in Bristol Myers Squibb by 137.5% during the first quarter. Global Wealth Strategies & Associates now owns 475 shares of the biopharmaceutical company's stock worth $29,000 after buying an additional 275 shares in the last quarter. Transce3nd LLC bought a new stake in Bristol Myers Squibb during the fourth quarter worth $28,000. Finally, Fairway Wealth LLC bought a new stake in Bristol Myers Squibb during the fourth quarter worth $28,000. Institutional investors own 76.41% of the company's stock.

Insider Activity at Bristol Myers Squibb

In other Bristol Myers Squibb news, EVP Samit Hirawat bought 4,250 shares of Bristol Myers Squibb stock in a transaction on Friday, April 25th. The stock was acquired at an average price of $47.58 per share, with a total value of $202,215.00. Following the acquisition, the executive vice president owned 83,513 shares in the company, valued at approximately $3,973,548.54. This trade represents a 5.36% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.09% of the company's stock.

Bristol Myers Squibb Stock Down 1.3%

Shares of BMY traded down $0.62 on Friday, reaching $47.02. The stock had a trading volume of 7,024,133 shares, compared to its average volume of 12,882,565. Bristol Myers Squibb Company has a 12-month low of $39.35 and a 12-month high of $63.33. The company has a debt-to-equity ratio of 2.65, a quick ratio of 1.17 and a current ratio of 1.28. The firm has a market capitalization of $95.68 billion, a price-to-earnings ratio of 17.61, a price-to-earnings-growth ratio of 1.39 and a beta of 0.36. The company has a 50-day simple moving average of $47.75 and a 200-day simple moving average of $53.69.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The biopharmaceutical company reported $1.80 earnings per share for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $10.77 billion. During the same quarter last year, the company earned ($4.40) EPS. The firm's revenue for the quarter was down 5.6% on a year-over-year basis. Sell-side analysts predict that Bristol Myers Squibb Company will post 6.74 EPS for the current year.

Bristol Myers Squibb Announces Dividend

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 $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 5.27%. The ex-dividend date of this dividend is Thursday, July 3rd. Bristol Myers Squibb's payout ratio is 92.88%.

Analyst Upgrades and Downgrades

BMY has been the topic of several research analyst reports. Wall Street Zen cut Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a research report on Friday, June 6th. 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 report on Wednesday, April 23rd. Piper Sandler started coverage on Bristol Myers Squibb in a research report on Tuesday, April 22nd. They set an "overweight" rating and a $65.00 price target 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, UBS Group decreased their price objective on Bristol Myers Squibb from $60.00 to $54.00 and set a "neutral" rating on the stock in a research note on Friday, April 11th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, six have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Bristol Myers Squibb currently has a consensus rating of "Hold" and a consensus price target 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.