Utah Retirement Systems Lowers Stake in Bristol-Myers Squibb (NYSE:BMY)

Utah Retirement Systems reduced its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 4.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 435,030 shares of the biopharmaceutical company’s stock after selling 19,100 shares during the period. Utah Retirement Systems’ holdings in Bristol-Myers Squibb were worth $27,464,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Family Management Corp lifted its position in Bristol-Myers Squibb by 2.9% during the 1st quarter. Family Management Corp now owns 49,613 shares of the biopharmaceutical company’s stock valued at $3,132,000 after acquiring an additional 1,377 shares during the period. Nikko Asset Management Americas Inc. raised its holdings in Bristol-Myers Squibb by 13.7% in the first quarter. Nikko Asset Management Americas Inc. now owns 268,503 shares of the biopharmaceutical company’s stock worth $16,951,000 after buying an additional 32,292 shares during the last quarter. Swaine & Leidel Wealth Services LLC raised its holdings in Bristol-Myers Squibb by 131.9% in the first quarter. Swaine & Leidel Wealth Services LLC now owns 61,013 shares of the biopharmaceutical company’s stock worth $3,852,000 after buying an additional 34,705 shares during the last quarter. Wedbush Securities Inc. raised its holdings in Bristol-Myers Squibb by 25.7% in the first quarter. Wedbush Securities Inc. now owns 56,670 shares of the biopharmaceutical company’s stock worth $3,578,000 after buying an additional 11,597 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its holdings in Bristol-Myers Squibb by 84.5% in the first quarter. Robeco Institutional Asset Management B.V. now owns 1,314,801 shares of the biopharmaceutical company’s stock worth $83,005,000 after buying an additional 602,256 shares during the last quarter. 71.48% of the stock is owned by institutional investors.

Several brokerages have issued reports on BMY. Truist Securities raised shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and lifted their target price for the stock from $66.00 to $74.00 in a report on Tuesday, April 13th. Morgan Stanley reissued an “equal weight” rating and set a $62.00 price objective on shares of Bristol-Myers Squibb in a report on Thursday, May 6th. Truist Financial raised shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating in a report on Tuesday, April 13th. Truist raised shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating in a report on Tuesday, April 13th. Finally, TheStreet raised shares of Bristol-Myers Squibb from a “c” rating to a “b” rating in a report on Thursday, April 29th. Three investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. Bristol-Myers Squibb currently has an average rating of “Buy” and an average price target of $72.36.

Shares of BMY traded down $0.20 during mid-day trading on Thursday, reaching $66.96. The stock had a trading volume of 74,999 shares, compared to its average volume of 8,426,854. The firm has a market capitalization of $149.51 billion, a price-to-earnings ratio of -24.16, a price-to-earnings-growth ratio of 1.28 and a beta of 0.64. Bristol-Myers Squibb has a 12 month low of $56.75 and a 12 month high of $67.99. The business’s fifty day moving average price is $66.35. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.45 and a current ratio of 1.56.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings results on Wednesday, April 28th. The biopharmaceutical company reported $1.74 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.82 by ($0.08). The firm had revenue of $11.07 billion during the quarter, compared to the consensus estimate of $11.19 billion. Bristol-Myers Squibb had a positive return on equity of 33.76% and a negative net margin of 14.53%. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.72 earnings per share. As a group, equities analysts anticipate that Bristol-Myers Squibb will post 7.45 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, August 2nd. Shareholders of record on Friday, July 2nd will be given a $0.49 dividend. The ex-dividend date is Thursday, July 1st. This represents a $1.96 dividend on an annualized basis and a dividend yield of 2.93%. Bristol-Myers Squibb’s payout ratio is currently 30.43%.

In related news, SVP Joseph Eid sold 1,118 shares of the company’s stock in a transaction on Monday, May 10th. The shares were sold at an average price of $65.00, for a total transaction of $72,670.00. Following the completion of the transaction, the senior vice president now owns 8,069 shares in the company, valued at $524,485. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Rupert Vessey sold 30,546 shares of the company’s stock in a transaction on Wednesday, May 5th. The stock was sold at an average price of $64.29, for a total transaction of $1,963,802.34. Following the transaction, the executive vice president now owns 45,139 shares of the company’s stock, valued at approximately $2,901,986.31. The disclosure for this sale can be found here. Over the last quarter, insiders sold 49,783 shares of company stock valued at $3,215,493. Company insiders own 0.11% of the company’s stock.

Bristol-Myers Squibb Profile

Bristol Myers Squibb Co engages in the discovery, development, licensing, manufacture, marketing, distribution, and sale of biopharmaceutical products. It offers chemically-synthesized drugs or small molecules and products produced from biological processes called biologics. The company was founded in August 1933 and is headquartered in New York, NY.

Read More: What is the S&P/TSX Index?

Want to see what other hedge funds are holding BMY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bristol-Myers Squibb (NYSE:BMY).

Institutional Ownership by Quarter for Bristol-Myers Squibb (NYSE:BMY)

Receive News & Ratings for Bristol-Myers Squibb Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bristol-Myers Squibb and related companies with MarketBeat.com's FREE daily email newsletter.