Sector Gamma AS Sells 297,093 Shares of Bristol-Myers Squibb (NYSE:BMY)

Sector Gamma AS cut its stake in Bristol-Myers Squibb (NYSE:BMY) by 44.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 374,687 shares of the biopharmaceutical company’s stock after selling 297,093 shares during the period. Bristol-Myers Squibb accounts for approximately 4.7% of Sector Gamma AS’s investment portfolio, making the stock its 6th largest holding. Sector Gamma AS’s holdings in Bristol-Myers Squibb were worth $19,225,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Northern Trust Corp increased its position in Bristol-Myers Squibb by 5.8% in the third quarter. Northern Trust Corp now owns 25,292,711 shares of the biopharmaceutical company’s stock worth $1,467,989,000 after buying an additional 1,394,158 shares during the period. Invesco Ltd. increased its position in Bristol-Myers Squibb by 8.6% in the third quarter. Invesco Ltd. now owns 15,606,587 shares of the biopharmaceutical company’s stock worth $905,806,000 after buying an additional 1,240,902 shares during the period. Pacer Advisors Inc. increased its position in Bristol-Myers Squibb by 48.0% in the fourth quarter. Pacer Advisors Inc. now owns 7,830,948 shares of the biopharmaceutical company’s stock worth $401,806,000 after buying an additional 2,540,360 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its position in Bristol-Myers Squibb by 3.2% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 5,594,092 shares of the biopharmaceutical company’s stock worth $287,033,000 after buying an additional 172,769 shares during the period. Finally, Pzena Investment Management LLC increased its position in Bristol-Myers Squibb by 13.8% in the third quarter. Pzena Investment Management LLC now owns 4,924,194 shares of the biopharmaceutical company’s stock worth $285,800,000 after buying an additional 596,625 shares during the period. 76.41% of the stock is owned by institutional investors and hedge funds.

Bristol-Myers Squibb Stock Up 0.3 %

Shares of Bristol-Myers Squibb stock traded up $0.15 during trading on Friday, hitting $44.85. 21,281,927 shares of the stock traded hands, compared to its average volume of 12,141,314. The stock has a market cap of $90.90 billion, a P/E ratio of -14.47, a PEG ratio of 16.25 and a beta of 0.39. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.31 and a current ratio of 1.43. Bristol-Myers Squibb has a twelve month low of $44.34 and a twelve month high of $69.10. The company has a fifty day moving average price of $51.03 and a two-hundred day moving average price of $51.18.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share (EPS) for the quarter, beating the consensus estimate of ($4.53) by $0.13. The business had revenue of $11.87 billion during the quarter, compared to analyst estimates of $11.45 billion. Bristol-Myers Squibb had a positive return on equity of 50.04% and a negative net margin of 13.50%. The firm’s revenue was up 4.7% on a year-over-year basis. During the same period in the previous year, the company earned $2.05 EPS. Equities research analysts predict that Bristol-Myers Squibb will post 0.55 EPS for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Friday, April 5th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 5.35%. The ex-dividend date is Thursday, April 4th. Bristol-Myers Squibb’s payout ratio is -77.42%.

Analysts Set New Price Targets

A number of brokerages have recently commented on BMY. Barclays lowered their price target on Bristol-Myers Squibb from $51.00 to $43.00 and set an “equal weight” rating on the stock in a report on Friday. Societe Generale lowered Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research report on Monday, March 11th. Wells Fargo & Company increased their price target on Bristol-Myers Squibb from $51.00 to $52.00 and gave the company an “equal weight” rating in a research report on Thursday, April 18th. Bank of America lowered Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and decreased their price target for the company from $68.00 to $60.00 in a research report on Wednesday, January 3rd. Finally, Redburn Atlantic lowered Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and decreased their price target for the company from $77.00 to $54.00 in a research report on Tuesday, February 6th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Bristol-Myers Squibb presently has an average rating of “Hold” and a consensus target price of $60.00.

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.