Insight Inv LLC Sells 2,100 Shares of Bristol-Myers Squibb (NYSE:BMY)

Insight Inv LLC reduced its holdings in Bristol-Myers Squibb (NYSE:BMY) by 8.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 22,671 shares of the biopharmaceutical company’s stock after selling 2,100 shares during the period. Insight Inv LLC’s holdings in Bristol-Myers Squibb were worth $942,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BMY. Gryphon Financial Partners LLC increased its stake in Bristol-Myers Squibb by 23.5% in the 4th quarter. Gryphon Financial Partners LLC now owns 5,235 shares of the biopharmaceutical company’s stock valued at $280,000 after buying an additional 995 shares during the last quarter. NBC Securities Inc. increased its stake in Bristol-Myers Squibb by 45.3% in the 4th quarter. NBC Securities Inc. now owns 11,949 shares of the biopharmaceutical company’s stock valued at $613,000 after buying an additional 3,724 shares during the last quarter. AlphaStar Capital Management LLC acquired a new stake in Bristol-Myers Squibb in the 4th quarter valued at $437,000. Envestnet Portfolio Solutions Inc. increased its stake in Bristol-Myers Squibb by 78.9% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 138,626 shares of the biopharmaceutical company’s stock valued at $7,113,000 after buying an additional 61,119 shares during the last quarter. Finally, Ironwood Investment Counsel LLC acquired a new stake in Bristol-Myers Squibb in the 4th quarter valued at $253,000. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BMY has been the topic of several recent research reports. Barclays lifted their price target on shares of Bristol-Myers Squibb from $41.00 to $42.00 and gave the company an “underweight” rating in a research note on Thursday, August 22nd. TD Cowen boosted their price target on Bristol-Myers Squibb from $45.00 to $53.00 and gave the stock a “hold” rating in a research report on Monday, August 12th. StockNews.com raised Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 29th. Deutsche Bank Aktiengesellschaft decreased their target price on Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating on the stock in a report on Tuesday, July 23rd. Finally, Jefferies Financial Group increased their price target on Bristol-Myers Squibb from $49.00 to $51.00 and gave the company a “hold” rating in a research note on Wednesday, August 28th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $54.67.

Bristol-Myers Squibb Price Performance

NYSE:BMY opened at $48.50 on Tuesday. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $61.42. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.02 and a current ratio of 1.16. The firm’s 50-day simple moving average is $46.09 and its 200 day simple moving average is $46.53. The firm has a market cap of $98.33 billion, a price-to-earnings ratio of -15.65, a P/E/G ratio of 12.62 and a beta of 0.46.

Bristol-Myers Squibb (NYSE:BMY) last announced its earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 EPS for the quarter, topping the consensus estimate of $1.64 by $0.43. The company had revenue of $12.20 billion for the quarter, compared to analysts’ expectations of $11.54 billion. Bristol-Myers Squibb had a negative net margin of 14.06% and a positive return on equity of 12.51%. The business’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same period last year, the firm earned $1.75 earnings per share. As a group, sell-side analysts predict that Bristol-Myers Squibb will post 0.77 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Friday, July 5th were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Friday, July 5th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.95%. Bristol-Myers Squibb’s payout ratio is -77.42%.

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.