Bristol Myers Squibb Company (NYSE:BMY) Shares Sold by E Fund Management Co. Ltd.

E Fund Management Co. Ltd. lessened its holdings in Bristol Myers Squibb Company (NYSE:BMY) by 6.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,142 shares of the biopharmaceutical company’s stock after selling 669 shares during the quarter. E Fund Management Co. Ltd.’s holdings in Bristol Myers Squibb were worth $619,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC boosted its holdings in Bristol Myers Squibb by 1.1% in the first quarter. Commonwealth Equity Services LLC now owns 1,288,407 shares of the biopharmaceutical company’s stock worth $78,580,000 after purchasing an additional 13,959 shares during the period. Polar Asset Management Partners Inc. bought a new stake in Bristol Myers Squibb in the fourth quarter valued at $16,651,000. Avaii Wealth Management LLC lifted its stake in Bristol Myers Squibb by 590.9% in the first quarter. Avaii Wealth Management LLC now owns 78,597 shares of the biopharmaceutical company’s stock valued at $4,794,000 after buying an additional 67,221 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in Bristol Myers Squibb by 1.4% in the first quarter. Assenagon Asset Management S.A. now owns 65,038 shares of the biopharmaceutical company’s stock valued at $3,967,000 after buying an additional 869 shares during the last quarter. Finally, Shorepoint Capital Partners LLC lifted its stake in Bristol Myers Squibb by 2.2% in the fourth quarter. Shorepoint Capital Partners LLC now owns 58,426 shares of the biopharmaceutical company’s stock valued at $3,305,000 after buying an additional 1,248 shares during the last quarter. Institutional investors and hedge funds own 76.41% of the company’s stock.

Bristol Myers Squibb Price Performance

Shares of Bristol Myers Squibb stock opened at $47.82 on Thursday. The company’s 50-day moving average price is $47.23 and its two-hundred day moving average price is $51.66. The stock has a market cap of $97.33 billion, a PE ratio of 19.28, a price-to-earnings-growth ratio of 2.38 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 current ratio of 1.21, a quick ratio of 1.11 and a debt-to-equity ratio of 2.54.

Bristol Myers Squibb (NYSE:BMY) last posted its quarterly earnings data on Thursday, July 31st. The biopharmaceutical company reported $1.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.39. The firm had revenue of $12.27 billion for the quarter, compared to the consensus estimate of $11.32 billion. Bristol Myers Squibb had a return on equity of 80.04% and a net margin of 10.58%. The business’s revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.07 EPS. As a group, sell-side analysts anticipate that Bristol Myers Squibb Company will post 6.74 EPS for the current fiscal year.

Bristol Myers Squibb Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Thursday, July 3rd were issued a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 5.2%. The ex-dividend date was Thursday, July 3rd. Bristol Myers Squibb’s payout ratio is presently 100.00%.

Analysts Set New Price Targets

A number of research firms have issued reports on BMY. Jefferies Financial Group cut their target price on Bristol Myers Squibb from $70.00 to $68.00 and set a “buy” rating on the stock in a research note on Wednesday, April 23rd. Daiwa Capital Markets cut Bristol Myers Squibb from an “outperform” rating to a “neutral” rating and set a $42.00 target price on the stock. in a research note on Tuesday, August 5th. Cantor Fitzgerald restated a “neutral” rating and set a $55.00 price objective on shares of Bristol Myers Squibb in a research note on Tuesday, April 22nd. Piper Sandler started coverage on shares of Bristol Myers Squibb in a research note on Tuesday, April 22nd. They set an “overweight” rating and a $65.00 price objective on the stock. Finally, Wall Street Zen cut shares of Bristol Myers Squibb from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 6th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $56.38.

Bristol Myers Squibb 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.