Bristol-Myers Squibb (NYSE:BMY) Shares Sold by Manning & Napier Advisors LLC

Manning & Napier Advisors LLC lowered its holdings in Bristol-Myers Squibb (NYSE:BMY) by 8.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 509,364 shares of the biopharmaceutical company’s stock after selling 48,363 shares during the period. Manning & Napier Advisors LLC’s holdings in Bristol-Myers Squibb were worth $28,810,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Swedbank AB grew its position in shares of Bristol-Myers Squibb by 1.5% during the fourth quarter. Swedbank AB now owns 3,185,674 shares of the biopharmaceutical company’s stock worth $180,182,000 after acquiring an additional 46,122 shares during the last quarter. Strategic Blueprint LLC increased its stake in shares of Bristol-Myers Squibb by 4.1% in the fourth quarter. Strategic Blueprint LLC now owns 12,684 shares of the biopharmaceutical company’s stock valued at $717,000 after purchasing an additional 502 shares during the period. Asset Dedication LLC increased its stake in shares of Bristol-Myers Squibb by 124.7% in the fourth quarter. Asset Dedication LLC now owns 14,487 shares of the biopharmaceutical company’s stock valued at $819,000 after purchasing an additional 8,041 shares during the period. R Squared Ltd bought a new stake in Bristol-Myers Squibb during the 4th quarter valued at $40,000. Finally, Mayflower Financial Advisors LLC lifted its holdings in Bristol-Myers Squibb by 38.0% in the fourth quarter. Mayflower Financial Advisors LLC now owns 11,682 shares of the biopharmaceutical company’s stock worth $661,000 after purchasing an additional 3,216 shares during the period. Institutional investors own 76.41% of the company’s stock.

Insider Activity

In other news, EVP Samit Hirawat purchased 1,830 shares of Bristol-Myers Squibb stock in a transaction dated Friday, November 1st. The shares were bought at an average cost of $54.67 per share, with a total value of $100,046.10. Following the completion of the transaction, the executive vice president now directly owns 62,109 shares in the company, valued at $3,395,499.03. This trade represents a 3.04 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Phil M. Holzer sold 700 shares of the business’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $55.62, for a total value of $38,934.00. Following the completion of the transaction, the senior vice president now directly owns 11,760 shares of the company’s stock, valued at approximately $654,091.20. The trade was a 5.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by corporate insiders.

Bristol-Myers Squibb Stock Performance

Shares of BMY stock traded up $0.93 during mid-day trading on Wednesday, reaching $59.69. The stock had a trading volume of 892,352 shares, compared to its average volume of 9,375,103. Bristol-Myers Squibb has a one year low of $39.35 and a one year high of $61.10. The company has a quick ratio of 1.09, a current ratio of 1.24 and a debt-to-equity ratio of 2.83. The firm’s 50 day simple moving average is $57.56 and its 200 day simple moving average is $52.97. The firm has a market cap of $121.06 billion, a PE ratio of -16.63, a P/E/G ratio of 2.02 and a beta of 0.45.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.49 by $0.31. The company had revenue of $11.89 billion during the quarter, compared to analysts’ expectations of $11.26 billion. Bristol-Myers Squibb had a positive return on equity of 11.94% and a negative net margin of 15.30%. The business’s revenue was up 8.4% on a year-over-year basis. During the same period last year, the business earned $2.00 earnings per share. On average, analysts forecast that Bristol-Myers Squibb will post 0.92 EPS for the current year.

Bristol-Myers Squibb Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 3rd will be given a dividend of $0.62 per share. The ex-dividend date is Friday, January 3rd. This is a positive change from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. This represents a $2.48 dividend on an annualized basis and a yield of 4.15%. Bristol-Myers Squibb’s dividend payout ratio is -69.08%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on BMY shares. Barclays increased their price objective on shares of Bristol-Myers Squibb from $42.00 to $43.00 and gave the company an “underweight” rating in a report on Monday, October 7th. Citigroup increased their target price on shares of Bristol-Myers Squibb from $60.00 to $65.00 and gave the company a “neutral” rating in a research note on Tuesday. Bank of America reissued a “neutral” rating and issued a $63.00 price target on shares of Bristol-Myers Squibb in a research note on Tuesday, December 10th. Sanford C. Bernstein initiated coverage on shares of Bristol-Myers Squibb in a report on Thursday, October 17th. They set a “market perform” rating and a $56.00 price target on the stock. Finally, Cantor Fitzgerald restated a “neutral” rating and issued a $50.00 target price on shares of Bristol-Myers Squibb in a report on Friday, October 18th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, four have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $56.60.

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.