Victory Capital Management Inc. Sells 91,384 Shares of Bristol-Myers Squibb (NYSE:BMY)

Victory Capital Management Inc. reduced its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 3.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,873,938 shares of the biopharmaceutical company’s stock after selling 91,384 shares during the quarter. Victory Capital Management Inc.’s holdings in Bristol-Myers Squibb were worth $162,550,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Hollencrest Capital Management boosted its stake in Bristol-Myers Squibb by 61.3% in the 3rd quarter. Hollencrest Capital Management now owns 492 shares of the biopharmaceutical company’s stock valued at $25,000 after purchasing an additional 187 shares during the period. Kennebec Savings Bank bought a new stake in Bristol-Myers Squibb in the 3rd quarter valued at $28,000. Darwin Wealth Management LLC bought a new stake in Bristol-Myers Squibb in the 3rd quarter valued at $29,000. Comprehensive Financial Planning Inc. PA bought a new stake in Bristol-Myers Squibb in the 4th quarter valued at $34,000. Finally, Dunhill Financial LLC boosted its stake in Bristol-Myers Squibb by 39.8% in the 3rd quarter. Dunhill Financial LLC now owns 664 shares of the biopharmaceutical company’s stock valued at $34,000 after purchasing an additional 189 shares during the period. 76.41% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently issued reports on BMY. Daiwa Capital Markets upgraded Bristol-Myers Squibb from a “neutral” rating to an “outperform” rating in a research note on Wednesday, November 13th. Daiwa America raised Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 13th. Morgan Stanley lifted their price objective on Bristol-Myers Squibb from $36.00 to $39.00 and gave the company an “underweight” rating in a report on Tuesday, November 12th. Citigroup lifted their price objective on Bristol-Myers Squibb from $60.00 to $65.00 and gave the company a “neutral” rating in a report on Tuesday, January 28th. Finally, BMO Capital Markets boosted their price target on Bristol-Myers Squibb from $57.00 to $61.00 and gave the stock a “market perform” rating in a report on Tuesday, November 12th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, four have given a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Bristol-Myers Squibb has a consensus rating of “Hold” and a consensus price target of $57.86.

Bristol-Myers Squibb Trading Up 0.7 %

Shares of Bristol-Myers Squibb stock opened at $59.85 on Thursday. The firm has a market cap of $121.44 billion, a price-to-earnings ratio of -13.54, a PEG ratio of 2.07 and a beta of 0.45. The business has a 50-day moving average price of $57.28 and a 200-day moving average price of $54.97. The company has a quick ratio of 1.15, a current ratio of 1.25 and a debt-to-equity ratio of 2.90. Bristol-Myers Squibb has a twelve month low of $39.35 and a twelve month high of $61.10.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.47 by $0.20. Bristol-Myers Squibb had a negative net margin of 18.53% and a positive return on equity of 13.93%. Equities research analysts anticipate that Bristol-Myers Squibb will post 6.74 EPS for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Friday, April 4th will be issued a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 4.14%. The ex-dividend date is Friday, April 4th. Bristol-Myers Squibb’s payout ratio is -56.11%.

Insider Activity at Bristol-Myers Squibb

In other news, EVP Samit Hirawat purchased 1,823 shares of the business’s stock in a transaction on Friday, February 14th. The shares were acquired at an average cost of $54.84 per share, with a total value of $99,973.32. Following the completion of the acquisition, the executive vice president now owns 63,932 shares of the company’s stock, valued at $3,506,030.88. This trade represents a 2.94 % increase in their ownership of the stock. 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.

Bristol-Myers Squibb Company 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.