Perkins Capital Management Inc. Has $748,000 Stock Position in Bristol-Myers Squibb (NYSE:BMY)

Perkins Capital Management Inc. lessened its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 8.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,225 shares of the biopharmaceutical company’s stock after selling 1,266 shares during the quarter. Perkins Capital Management Inc.’s holdings in Bristol-Myers Squibb were worth $748,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of BMY. Swedbank AB lifted its holdings in shares of Bristol-Myers Squibb by 0.9% during the 3rd quarter. Swedbank AB now owns 3,139,552 shares of the biopharmaceutical company’s stock worth $162,440,000 after acquiring an additional 28,427 shares during the period. United Bank raised its position in Bristol-Myers Squibb by 2.7% in the third quarter. United Bank now owns 17,322 shares of the biopharmaceutical company’s stock worth $896,000 after purchasing an additional 456 shares in the last quarter. Thrivent Financial for Lutherans lifted its stake in Bristol-Myers Squibb by 4.9% during the third quarter. Thrivent Financial for Lutherans now owns 116,801 shares of the biopharmaceutical company’s stock worth $6,044,000 after purchasing an additional 5,407 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Bristol-Myers Squibb during the third quarter valued at approximately $3,579,000. Finally, Landscape Capital Management L.L.C. bought a new stake in shares of Bristol-Myers Squibb in the 3rd quarter valued at approximately $319,000. Institutional investors and hedge funds own 76.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on BMY shares. Jefferies Financial Group upgraded Bristol-Myers Squibb from a “hold” rating to a “buy” rating and raised their target price for the stock from $63.00 to $70.00 in a research report on Monday, December 16th. Wells Fargo & Company lifted their price objective on Bristol-Myers Squibb from $60.00 to $62.00 and gave the company an “equal weight” rating in a report on Friday, February 7th. Bank of America reaffirmed a “neutral” rating and issued a $63.00 target price on shares of Bristol-Myers Squibb in a report on Tuesday, December 10th. Truist Financial increased their target price on shares of Bristol-Myers Squibb from $62.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Finally, Cantor Fitzgerald boosted their price target on shares of Bristol-Myers Squibb from $50.00 to $55.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating, four have issued a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $57.86.

Bristol-Myers Squibb Price Performance

Shares of BMY stock opened at $61.06 on Monday. The firm has a market cap of $123.92 billion, a price-to-earnings ratio of -13.82, a PEG ratio of 2.07 and a beta of 0.43. Bristol-Myers Squibb has a 12 month low of $39.35 and a 12 month high of $63.33. The company has a quick ratio of 1.15, a current ratio of 1.25 and a debt-to-equity ratio of 2.90. The stock has a 50-day moving average price of $58.17 and a 200 day moving average price of $55.97.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 EPS for the quarter, topping the consensus estimate of $1.47 by $0.20. Bristol-Myers Squibb had a negative net margin of 18.53% and a positive return on equity of 13.93%. Research analysts expect that Bristol-Myers Squibb will post 6.74 EPS for the current year.

Bristol-Myers Squibb Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Friday, April 4th will be given a $0.62 dividend. The ex-dividend date of this dividend is Friday, April 4th. This represents a $2.48 annualized dividend and a dividend yield of 4.06%. Bristol-Myers Squibb’s dividend payout ratio is currently -56.11%.

Insider Buying and Selling

In related news, EVP Samit Hirawat bought 1,823 shares of Bristol-Myers Squibb stock in a transaction on Friday, February 14th. The shares were purchased at an average price of $54.84 per share, for a total transaction of $99,973.32. Following the completion of the acquisition, the executive vice president now owns 63,932 shares in the company, valued at approximately $3,506,030.88. This represents a 2.94 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.09% of the stock is owned by insiders.

Bristol-Myers Squibb 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.