Sienna Gestion Reduces Position in Bristol Myers Squibb Company (NYSE:BMY)

Key Points

• Sienna Gestion has sold 8,519 shares of Bristol Myers Squibb, reducing its holdings by 5.4% to 149,780 shares, valued at $8.88 million.
• Analysts have mixed views on Bristol Myers Squibb, with ratings including "hold", "buy", and "neutral", and a consensus target price of $56.38.
• Bristol Myers Squibb reported earnings of $1.46 EPS for the last quarter, exceeding estimates, and declared a quarterly dividend yielding 5.2%.

Sienna Gestion lessened its holdings in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 5.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 149,780 shares of the biopharmaceutical company's stock after selling 8,519 shares during the period. Sienna Gestion's holdings in Bristol Myers Squibb were worth $8,880,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of BMY. William B. Walkup & Associates Inc. grew its stake in shares of Bristol Myers Squibb by 7.7% in the first quarter. William B. Walkup & Associates Inc. now owns 4,936 shares of the biopharmaceutical company's stock worth $301,000 after acquiring an additional 355 shares in the last quarter. GQG Partners LLC increased its stake in Bristol Myers Squibb by 22,647.6% in the first quarter. GQG Partners LLC now owns 12,023,454 shares of the biopharmaceutical company's stock valued at $733,310,000 after purchasing an additional 11,970,598 shares during the period. Tokio Marine Asset Management Co. Ltd. increased its stake in shares of Bristol Myers Squibb by 6.8% during the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 62,197 shares of the biopharmaceutical company's stock worth $3,793,000 after acquiring an additional 3,944 shares during the period. S Bank Fund Management Ltd purchased a new position in Bristol Myers Squibb during the first quarter worth about $6,556,000. Finally, National Pension Service raised its holdings in Bristol Myers Squibb by 5.0% during the first quarter. National Pension Service now owns 4,903,014 shares of the biopharmaceutical company's stock worth $299,035,000 after purchasing an additional 234,190 shares in the last quarter. Hedge funds and other institutional investors own 76.41% of the company's stock.

Bristol Myers Squibb Trading Up 1.3%

NYSE BMY traded up $0.64 during trading hours on Friday, reaching $48.45. The company's stock had a trading volume of 11,206,898 shares, compared to its average volume of 12,717,643. The firm has a fifty day simple moving average of $47.23 and a 200-day simple moving average of $51.45. The stock has a market cap of $98.62 billion, a P/E ratio of 19.54, a P/E/G ratio of 2.48 and a beta of 0.36. Bristol Myers Squibb Company has a 52 week low of $42.96 and a 52 week high of $63.33. The company has a debt-to-equity ratio of 2.54, a current ratio of 1.21 and a quick ratio of 1.11.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The biopharmaceutical company reported $1.46 EPS for the quarter, topping the consensus estimate of $1.07 by $0.39. The company had revenue of $12.27 billion during the quarter, compared to the consensus estimate of $11.32 billion. Bristol Myers Squibb had a net margin of 10.58% and a return on equity of 80.04%. The company's quarterly revenue was up .6% on a year-over-year basis. During the same quarter last year, the firm posted $2.07 EPS. Equities analysts forecast that Bristol Myers Squibb Company will post 6.74 earnings per share for the current fiscal year.

Bristol Myers Squibb Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Thursday, July 3rd were paid a $0.62 dividend. The ex-dividend date of this dividend was Thursday, July 3rd. This represents a $2.48 annualized dividend and a yield of 5.1%. Bristol Myers Squibb's dividend payout ratio is currently 100.00%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on BMY shares. William Blair reiterated a "market perform" rating on shares of Bristol Myers Squibb in a research report on Friday, April 25th. Daiwa Capital Markets downgraded shares of Bristol Myers Squibb from an "outperform" rating to a "neutral" rating and set a $42.00 target price for the company. in a research report on Tuesday, August 5th. Piper Sandler assumed coverage on shares of Bristol Myers Squibb in a research report on Tuesday, April 22nd. They set an "overweight" rating and a $65.00 price objective for the company. Jefferies Financial Group decreased their target price on shares of Bristol Myers Squibb from $70.00 to $68.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. Finally, Morgan Stanley restated a "hold" rating on shares of Bristol Myers Squibb in a research report on Thursday, July 31st. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Bristol Myers Squibb has an average rating of "Hold" and an average price target of $56.38.

About Bristol Myers Squibb

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.