GAM Holding AG Lowers Position in Bristol Myers Squibb Company (NYSE:BMY)

GAM Holding AG trimmed its position in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 9.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 184,489 shares of the biopharmaceutical company's stock after selling 18,157 shares during the quarter. GAM Holding AG's holdings in Bristol Myers Squibb were worth $11,252,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. LaFleur & Godfrey LLC raised its holdings in Bristol Myers Squibb by 3.5% in the 4th quarter. LaFleur & Godfrey LLC now owns 43,551 shares of the biopharmaceutical company's stock worth $2,463,000 after purchasing an additional 1,487 shares during the period. Brighton Jones LLC increased its position in shares of Bristol Myers Squibb by 33.4% in the fourth quarter. Brighton Jones LLC now owns 19,728 shares of the biopharmaceutical company's stock valued at $1,116,000 after buying an additional 4,935 shares in the last quarter. Bank Pictet & Cie Europe AG acquired a new position in shares of Bristol Myers Squibb during the 4th quarter worth approximately $13,094,000. Venturi Wealth Management LLC lifted its position in shares of Bristol Myers Squibb by 107.9% during the 4th quarter. Venturi Wealth Management LLC now owns 6,025 shares of the biopharmaceutical company's stock valued at $341,000 after buying an additional 3,127 shares in the last quarter. Finally, Global Retirement Partners LLC grew its stake in Bristol Myers Squibb by 15.9% in the 4th quarter. Global Retirement Partners LLC now owns 27,612 shares of the biopharmaceutical company's stock valued at $1,562,000 after acquiring an additional 3,798 shares during the period. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have weighed in on BMY. UBS Group reduced their price objective on shares of Bristol Myers Squibb from $60.00 to $54.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. The Goldman Sachs Group restated a "neutral" rating and set a $55.00 price target (down previously from $67.00) on shares of Bristol Myers Squibb in a research report on Tuesday, April 8th. 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. William Blair reiterated a "market perform" rating on shares of Bristol Myers Squibb in a research note on Friday, April 25th. Finally, Jefferies Financial Group decreased their target price 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. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, six have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Bristol Myers Squibb presently has an average rating of "Hold" and a consensus target price of $58.00.

Bristol Myers Squibb Stock Up 0.1%

Shares of NYSE:BMY opened at $46.87 on Friday. Bristol Myers Squibb Company has a 52-week low of $39.35 and a 52-week high of $63.33. The stock has a market cap of $95.38 billion, a P/E ratio of 17.55, a PEG ratio of 1.39 and a beta of 0.38. The business has a fifty day moving average of $48.20 and a two-hundred day moving average of $54.35. The company has a quick ratio of 1.17, a current ratio of 1.28 and a debt-to-equity ratio of 2.65.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 firm had revenue of $11.20 billion during the quarter, compared to analyst estimates of $10.77 billion. During the same quarter in the prior year, the firm posted ($4.40) earnings per share. Bristol Myers Squibb's quarterly revenue was down 5.6% on a year-over-year basis. On average, research analysts expect that Bristol Myers Squibb Company will post 6.74 earnings per share for the current year.

Bristol Myers Squibb Announces Dividend

The company 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 dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 5.29%. The ex-dividend date is Thursday, July 3rd. Bristol Myers Squibb's payout ratio is presently 92.88%.

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 shares were bought at an average price of $47.58 per share, for a total transaction of $202,215.00. Following the completion of the transaction, the executive vice president now directly owns 83,513 shares of the company's stock, valued at $3,973,548.54. This trade represents a 5.36% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. 0.09% of the stock is currently owned by 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.

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