Man Group plc Has $97.74 Million Stake in Bristol-Myers Squibb (NYSE:BMY)

Man Group plc lessened its stake in Bristol-Myers Squibb (NYSE:BMY - Free Report) by 46.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,728,127 shares of the biopharmaceutical company's stock after selling 1,501,885 shares during the quarter. Man Group plc owned about 0.09% of Bristol-Myers Squibb worth $97,743,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in BMY. Fairway Wealth LLC bought a new stake in Bristol-Myers Squibb in the fourth quarter valued at about $28,000. Transce3nd LLC bought a new stake in Bristol-Myers Squibb in the fourth quarter valued at about $28,000. Comprehensive Financial Planning Inc. PA bought a new stake in Bristol-Myers Squibb in the fourth quarter valued at about $34,000. Westend Capital Management LLC bought a new stake in Bristol-Myers Squibb in the fourth quarter valued at about $38,000. Finally, Tacita Capital Inc bought a new stake in Bristol-Myers Squibb in the fourth quarter valued at about $39,000. Institutional investors own 76.41% of the company's stock.

Insider Buying and Selling

In related news, EVP Samit Hirawat bought 4,250 shares of the company's stock in a transaction that occurred on Friday, April 25th. The shares were acquired at an average price of $47.58 per share, for a total transaction of $202,215.00. Following the completion of the acquisition, the executive vice president now owns 83,513 shares of the company's stock, valued at approximately $3,973,548.54. The trade was a 5.36% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.09% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Citigroup boosted their target price on Bristol-Myers Squibb from $60.00 to $65.00 and gave the company a "neutral" rating in a research note on Tuesday, January 28th. Jefferies Financial Group decreased their target price on Bristol-Myers Squibb from $70.00 to $68.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. William Blair reissued a "market perform" rating on shares of Bristol-Myers Squibb in a research note on Friday, April 25th. The Goldman Sachs Group reissued a "neutral" rating and issued a $55.00 target price (down from $67.00) on shares of Bristol-Myers Squibb in a research note on Tuesday, April 8th. Finally, Piper Sandler assumed coverage on Bristol-Myers Squibb in a research note on Tuesday, April 22nd. They issued an "overweight" rating and a $65.00 target price for the company. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, five have given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $58.00.

Bristol-Myers Squibb Stock Up 2.1%

Shares of BMY stock traded up $0.96 on Friday, hitting $46.77. 12,103,063 shares of the stock were exchanged, compared to its average volume of 13,242,297. The company has a current ratio of 1.25, a quick ratio of 1.15 and a debt-to-equity ratio of 2.90. The firm has a market capitalization of $95.18 billion, a P/E ratio of -10.58, a price-to-earnings-growth ratio of 2.07 and a beta of 0.39. The business has a 50-day moving average of $53.05 and a 200 day moving average of $55.97. Bristol-Myers Squibb has a fifty-two week low of $39.35 and a fifty-two week high of $63.33.

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, topping the consensus estimate of $1.50 by $0.30. Bristol-Myers Squibb had a positive return on equity of 13.93% and a negative net margin of 18.53%. The company had revenue of $11.20 billion during the quarter, compared to analysts' expectations of $10.77 billion. During the same period in the prior year, the firm earned ($4.40) earnings per share. Bristol-Myers Squibb's revenue for the quarter was down 5.6% compared to the same quarter last year. Equities analysts anticipate that Bristol-Myers Squibb will post 6.74 EPS for the current year.

Bristol-Myers Squibb Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Friday, April 4th were issued a dividend of $0.62 per share. The ex-dividend date of this dividend was Friday, April 4th. This represents a $2.48 annualized dividend and a yield of 5.30%. Bristol-Myers Squibb's payout ratio is presently 92.88%.

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.