LMR Partners LLP Decreases Stock Position in Bristol-Myers Squibb (NYSE:BMY)

LMR Partners LLP reduced its position in shares of Bristol-Myers Squibb (NYSE:BMY - Free Report) by 37.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 132,167 shares of the biopharmaceutical company's stock after selling 77,795 shares during the period. LMR Partners LLP's holdings in Bristol-Myers Squibb were worth $7,475,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of BMY. Norges Bank bought a new stake in shares of Bristol-Myers Squibb during the fourth quarter worth $1,989,525,000. Ameriprise Financial Inc. grew its position in Bristol-Myers Squibb by 59.9% during the 4th quarter. Ameriprise Financial Inc. now owns 32,079,246 shares of the biopharmaceutical company's stock worth $1,814,341,000 after acquiring an additional 12,011,983 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its holdings in Bristol-Myers Squibb by 701.2% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 12,470,106 shares of the biopharmaceutical company's stock worth $705,309,000 after purchasing an additional 10,913,708 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Bristol-Myers Squibb by 3,880.0% during the fourth quarter. Wellington Management Group LLP now owns 5,977,505 shares of the biopharmaceutical company's stock valued at $338,088,000 after purchasing an additional 5,827,317 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of Bristol-Myers Squibb during the fourth quarter worth about $257,618,000. Institutional investors own 76.41% of the company's stock.

Bristol-Myers Squibb Stock Up 2.1%

Shares of BMY stock traded up $0.96 on Friday, hitting $46.77. The stock had a trading volume of 12,103,063 shares, compared to its average volume of 13,252,341. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.25 and a quick ratio of 1.15. The business has a 50 day moving average of $53.35 and a 200 day moving average of $56.01. Bristol-Myers Squibb has a 12-month low of $39.35 and a 12-month high of $63.33. The stock has a market cap of $95.18 billion, a price-to-earnings ratio of -10.58, a price-to-earnings-growth ratio of 2.07 and a beta of 0.39.

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last posted its earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.80 EPS for the quarter, topping the consensus estimate of $1.50 by $0.30. Bristol-Myers Squibb had a negative net margin of 18.53% and a positive return on equity of 13.93%. The firm had revenue of $11.20 billion for the quarter, compared to analysts' expectations of $10.77 billion. During the same quarter last year, the firm earned ($4.40) EPS. The company's quarterly revenue was down 5.6% compared to the same quarter last year. As a group, analysts expect that Bristol-Myers Squibb will post 6.74 EPS for the current year.

Bristol-Myers Squibb Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Friday, April 4th were paid a $0.62 dividend. The ex-dividend date was Friday, April 4th. This represents a $2.48 dividend on an annualized basis and a yield of 5.30%. Bristol-Myers Squibb's dividend payout ratio (DPR) is presently 92.88%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. UBS Group reduced their target price on shares of Bristol-Myers Squibb from $60.00 to $54.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. Argus raised shares of Bristol-Myers Squibb to a "hold" rating in a research report on Friday, April 25th. William Blair reissued a "market perform" rating on shares of Bristol-Myers Squibb in a research report on Friday, April 25th. The Goldman Sachs Group reiterated a "neutral" rating and issued a $55.00 price objective (down previously from $67.00) on shares of Bristol-Myers Squibb in a research note on Tuesday, April 8th. Finally, Piper Sandler began coverage on shares of Bristol-Myers Squibb in a research note on Tuesday, April 22nd. They set an "overweight" rating and a $65.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, five have assigned a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $58.00.

Insider Transactions at Bristol-Myers Squibb

In related news, EVP Samit Hirawat purchased 4,250 shares of Bristol-Myers Squibb stock in a transaction that occurred on Friday, April 25th. The stock was 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 owns 83,513 shares in the company, valued at $3,973,548.54. This represents a 5.36% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.09% of the company's stock.

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.