Bristol-Myers Squibb (NYSE:BMY) Shares Sold by Hudson Edge Investment Partners Inc.

Hudson Edge Investment Partners Inc. cut its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 6.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 128,187 shares of the biopharmaceutical company’s stock after selling 9,511 shares during the period. Bristol-Myers Squibb makes up approximately 1.3% of Hudson Edge Investment Partners Inc.’s investment portfolio, making the stock its 10th largest holding. Hudson Edge Investment Partners Inc.’s holdings in Bristol-Myers Squibb were worth $7,250,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in BMY. Reston Wealth Management LLC acquired a new stake in shares of Bristol-Myers Squibb during the third quarter worth $25,000. Hollencrest Capital Management grew its stake in shares of Bristol-Myers Squibb by 61.3% during the third quarter. Hollencrest Capital Management now owns 492 shares of the biopharmaceutical company’s stock worth $25,000 after purchasing an additional 187 shares during the period. Kennebec Savings Bank acquired a new stake in shares of Bristol-Myers Squibb during the third quarter worth $28,000. Darwin Wealth Management LLC acquired a new position in Bristol-Myers Squibb in the third quarter valued at about $29,000. Finally, Valued Wealth Advisors LLC grew its stake in Bristol-Myers Squibb by 1,168.1% in the third quarter. Valued Wealth Advisors LLC now owns 596 shares of the biopharmaceutical company’s stock valued at $31,000 after acquiring an additional 549 shares during the period. 76.41% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

BMY has been the subject of a number of research analyst reports. BMO Capital Markets boosted their target price on Bristol-Myers Squibb from $57.00 to $61.00 and gave the company a “market perform” rating in a research note on Tuesday, November 12th. Leerink Partnrs raised Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 12th. Jefferies Financial Group raised Bristol-Myers Squibb from a “hold” rating to a “buy” rating and boosted their target price for the company from $63.00 to $70.00 in a research note on Monday, December 16th. Morgan Stanley boosted their target price on Bristol-Myers Squibb from $36.00 to $39.00 and gave the company an “underweight” rating in a research note on Tuesday, November 12th. Finally, Citigroup boosted their target price on Bristol-Myers Squibb from $60.00 to $65.00 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, four have assigned a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $57.86.

Bristol-Myers Squibb Stock Performance

BMY opened at $55.85 on Friday. Bristol-Myers Squibb has a 52-week low of $39.35 and a 52-week high of $61.10. The firm has a market capitalization of $113.33 billion, a PE ratio of -12.63, a PEG ratio of 2.04 and a beta of 0.45. The company has a debt-to-equity ratio of 2.90, a quick ratio of 1.15 and a current ratio of 1.25. The business’s 50-day simple moving average is $56.99 and its 200 day simple moving average is $54.30.

Bristol-Myers Squibb (NYSE:BMY) last released its earnings results 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 positive return on equity of 13.93% and a negative net margin of 18.53%. As a group, sell-side analysts expect that Bristol-Myers Squibb will post 6.74 earnings per share for the current fiscal year.

Bristol-Myers Squibb Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, January 3rd were issued a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 4.44%. The ex-dividend date of this dividend was Friday, January 3rd. This is a positive change from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. Bristol-Myers Squibb’s dividend payout ratio is presently -56.11%.

Insider Buying and Selling

In other Bristol-Myers Squibb news, EVP Samit Hirawat purchased 1,823 shares of the stock in a transaction on Friday, February 14th. The shares were purchased at an average price of $54.84 per share, with a total value of $99,973.32. Following the completion of the transaction, the executive vice president now directly owns 63,932 shares in the company, valued at $3,506,030.88. This represents a 2.94 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.09% of the stock is currently owned by corporate insiders.

About Bristol-Myers Squibb

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.