Bristol Myers Squibb Company (NYSE:BMY) Shares Sold by Financial Counselors Inc.

Financial Counselors Inc. cut its holdings in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 4.6% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 126,429 shares of the biopharmaceutical company's stock after selling 6,033 shares during the quarter. Financial Counselors Inc.'s holdings in Bristol Myers Squibb were worth $7,711,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. Pinney & Scofield Inc. bought a new stake in shares of Bristol Myers Squibb during the 4th quarter valued at $25,000. Park Square Financial Group LLC bought a new position in Bristol Myers Squibb during the 4th quarter valued at about $26,000. Fairway Wealth LLC bought a new position in shares of Bristol Myers Squibb in the 4th quarter worth approximately $28,000. Transce3nd LLC bought a new position in shares of Bristol Myers Squibb in the 4th quarter worth approximately $28,000. Finally, Global Wealth Strategies & Associates lifted its stake in shares of Bristol Myers Squibb by 137.5% in the 1st quarter. Global Wealth Strategies & Associates now owns 475 shares of the biopharmaceutical company's stock worth $29,000 after purchasing an additional 275 shares during the period. 76.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on BMY. Argus raised shares of Bristol Myers Squibb to a "hold" rating in a report on Friday, April 25th. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $55.00 price target (down previously from $67.00) on shares of Bristol Myers Squibb in a research note on Tuesday, April 8th. Piper Sandler assumed coverage on shares of Bristol Myers Squibb in a research note on Tuesday, April 22nd. They set an "overweight" rating and a $65.00 price target on the stock. Jefferies Financial Group cut their price objective on shares of 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. Finally, Wall Street Zen cut shares of Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a report on Friday, June 6th. 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 given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $57.69.

Bristol Myers Squibb Trading Down 3.3%

BMY traded down $1.61 on Friday, hitting $46.91. The company had a trading volume of 13,670,701 shares, compared to its average volume of 12,845,758. The firm has a market cap of $95.47 billion, a P/E ratio of 17.57, a PEG ratio of 2.43 and a beta of 0.36. Bristol Myers Squibb Company has a 1 year low of $39.93 and a 1 year high of $63.33. The company's fifty day moving average price is $47.51 and its 200 day moving average price is $53.28. 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 issued its quarterly earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.50 by $0.30. The company had revenue of $11.20 billion for the quarter, compared to analyst estimates of $10.77 billion. Bristol Myers Squibb had a net margin of 11.38% and a return on equity of 87.62%. The business's revenue for the quarter was down 5.6% compared to the same quarter last year. During the same period in the prior year, the firm earned ($4.40) 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 Dividend Announcement

The company 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 annualized dividend and a yield of 5.29%. The ex-dividend date is Thursday, July 3rd. Bristol Myers Squibb's dividend payout ratio (DPR) is 92.88%.

Insiders Place Their Bets

In related news, EVP Samit Hirawat acquired 4,250 shares of the firm's stock in a transaction that occurred on Friday, April 25th. The shares were acquired at an average price of $47.58 per share, with a total value of $202,215.00. Following the completion of the purchase, the executive vice president directly owned 83,513 shares in the company, valued at approximately $3,973,548.54. The trade was a 5.36% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.09% of the company's stock.

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.