Broderick Brian C Sells 1,700 Shares of Bristol Myers Squibb Company (NYSE:BMY)

Broderick Brian C cut its holdings in Bristol Myers Squibb Company (NYSE:BMY) by 14.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,117 shares of the biopharmaceutical company’s stock after selling 1,700 shares during the period. Broderick Brian C’s holdings in Bristol Myers Squibb were worth $617,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Clarius Group LLC boosted its holdings in shares of Bristol Myers Squibb by 25.7% during the 1st quarter. Clarius Group LLC now owns 19,536 shares of the biopharmaceutical company’s stock worth $1,192,000 after buying an additional 3,995 shares in the last quarter. Hemenway Trust Co LLC bought a new position in Bristol Myers Squibb during the first quarter worth $207,000. Marest Capital LLC acquired a new stake in Bristol Myers Squibb in the first quarter worth $217,000. CENTRAL TRUST Co increased its stake in Bristol Myers Squibb by 0.3% in the first quarter. CENTRAL TRUST Co now owns 137,715 shares of the biopharmaceutical company’s stock valued at $8,399,000 after purchasing an additional 350 shares in the last quarter. Finally, Five Oceans Advisors acquired a new position in shares of Bristol Myers Squibb during the first quarter valued at about $275,000. 76.41% of the stock is owned by institutional investors and hedge funds.

Bristol Myers Squibb Stock Performance

Shares of BMY stock opened at $47.25 on Wednesday. The company has a debt-to-equity ratio of 2.65, a current ratio of 1.28 and a quick ratio of 1.17. The firm has a 50-day moving average of $48.49 and a 200-day moving average of $54.58. Bristol Myers Squibb Company has a one year low of $39.35 and a one year high of $63.33. The company has a market cap of $96.15 billion, a P/E ratio of 17.70, a P/E/G ratio of 1.42 and a beta of 0.38.

Bristol Myers Squibb (NYSE:BMY) last posted its quarterly earnings data on Thursday, April 24th. The biopharmaceutical company reported $1.80 EPS for the quarter, beating the consensus estimate of $1.50 by $0.30. Bristol Myers Squibb had a net margin of 11.38% and a return on equity of 87.62%. The firm had revenue of $11.20 billion during the quarter, compared to analyst estimates of $10.77 billion. During the same quarter last year, the business posted ($4.40) EPS. The company’s revenue for the quarter was down 5.6% on a year-over-year basis. Equities research analysts forecast that Bristol Myers Squibb Company will post 6.74 EPS for the current fiscal year.

Bristol Myers Squibb Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Thursday, July 3rd will be issued a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 5.25%. Bristol Myers Squibb’s dividend payout ratio (DPR) is currently 92.88%.

Insiders Place Their Bets

In related news, EVP Samit Hirawat acquired 4,250 shares of the firm’s stock in a transaction that occurred on Friday, April 25th. The stock was 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. This represents a 5.36% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.07% of the company’s stock.

Wall Street Analyst Weigh In

BMY has been the subject of a number of research analyst reports. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $55.00 target price on shares of Bristol Myers Squibb in a research report on Tuesday, April 22nd. Piper Sandler initiated coverage on Bristol Myers Squibb in a report on Tuesday, April 22nd. They set an “overweight” rating and a $65.00 price objective for the company. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $55.00 target price (down from $67.00) on shares of Bristol Myers Squibb in a research report on Tuesday, April 8th. Jefferies Financial Group reduced their price target on shares of Bristol Myers Squibb from $70.00 to $68.00 and set a “buy” rating for the company in a research report on Wednesday, April 23rd. Finally, UBS Group lowered their price objective 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. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $58.00.

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.