Bristol Myers Squibb Company (NYSE:BMY) Shares Sold by Meridian Management Co.

Meridian Management Co. decreased its position in shares of Bristol Myers Squibb Company (NYSE:BMY) by 49.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,265 shares of the biopharmaceutical company’s stock after selling 14,208 shares during the quarter. Meridian Management Co.’s holdings in Bristol Myers Squibb were worth $870,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Capital International Investors grew its stake in shares of Bristol Myers Squibb by 7.5% during the 4th quarter. Capital International Investors now owns 45,866,624 shares of the biopharmaceutical company’s stock worth $2,593,940,000 after purchasing an additional 3,218,865 shares during the period. Geode Capital Management LLC lifted its position in shares of Bristol Myers Squibb by 2.7% during the 4th quarter. Geode Capital Management LLC now owns 44,391,247 shares of the biopharmaceutical company’s stock valued at $2,505,967,000 after buying an additional 1,187,231 shares in the last quarter. Ameriprise Financial Inc. lifted its position in shares of Bristol Myers Squibb by 59.9% during the 4th quarter. Ameriprise Financial Inc. now owns 32,079,246 shares of the biopharmaceutical company’s stock valued at $1,814,341,000 after buying an additional 12,011,983 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Bristol Myers Squibb by 8.6% during the 1st quarter. Bank of New York Mellon Corp now owns 26,865,073 shares of the biopharmaceutical company’s stock valued at $1,638,501,000 after buying an additional 2,131,205 shares in the last quarter. Finally, Northern Trust Corp lifted its position in shares of Bristol Myers Squibb by 16.2% during the 4th quarter. Northern Trust Corp now owns 24,658,360 shares of the biopharmaceutical company’s stock valued at $1,394,677,000 after buying an additional 3,431,248 shares in the last quarter. Institutional investors and hedge funds own 76.41% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on BMY. Argus upgraded Bristol Myers Squibb to a “hold” rating in a research report on Friday, April 25th. Cantor Fitzgerald reiterated a “neutral” rating and set a $55.00 target price on shares of Bristol Myers Squibb in a research report on Tuesday, April 22nd. Piper Sandler began coverage on Bristol Myers Squibb in a research report on Tuesday, April 22nd. They set an “overweight” rating and a $65.00 target price on the stock. Morgan Stanley decreased their target price on Bristol Myers Squibb from $36.00 to $34.00 and set an “underweight” rating on the stock in a research report on Thursday, July 10th. Finally, The Goldman Sachs Group restated a “neutral” rating and issued a $55.00 price objective (down previously from $67.00) on shares of Bristol Myers Squibb in a report on Tuesday, April 8th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, six have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $58.53.

Bristol Myers Squibb Stock Down 1.0%

Shares of BMY opened at $48.44 on Monday. Bristol Myers Squibb Company has a 52-week low of $44.00 and a 52-week high of $63.33. The company has a market capitalization of $98.57 billion, a PE ratio of 18.14, a price-to-earnings-growth ratio of 2.53 and a beta of 0.36. The stock has a fifty day simple moving average of $47.67 and a two-hundred day simple moving average of $52.59. The company has a quick ratio of 1.17, a current ratio of 1.28 and a debt-to-equity ratio of 2.65.

Bristol Myers Squibb (NYSE:BMY) last issued its earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.50 by $0.30. Bristol Myers Squibb had a return on equity of 87.62% and a net margin of 11.38%. The business had revenue of $11.20 billion during the quarter, compared to the consensus estimate of $10.77 billion. During the same period last year, the company earned ($4.40) EPS. The company’s revenue for the quarter was down 5.6% on a year-over-year basis. As a group, equities analysts forecast that Bristol Myers Squibb Company will post 6.74 EPS for the current year.

Bristol Myers Squibb Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 3rd will be paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 5.12%. The ex-dividend date is Thursday, July 3rd. Bristol Myers Squibb’s dividend payout ratio (DPR) is presently 92.88%.

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.