IQ EQ FUND MANAGEMENT IRELAND Ltd Decreases Stake in Bristol-Myers Squibb (NYSE:BMY)

IQ EQ FUND MANAGEMENT IRELAND Ltd cut its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 11.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 85,700 shares of the biopharmaceutical company’s stock after selling 11,500 shares during the quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in Bristol-Myers Squibb were worth $4,847,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. United Bank boosted its holdings in shares of 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 acquiring an additional 456 shares during the period. Centaurus Financial Inc. lifted its holdings in Bristol-Myers Squibb by 21.3% during the 3rd quarter. Centaurus Financial Inc. now owns 10,919 shares of the biopharmaceutical company’s stock worth $565,000 after purchasing an additional 1,920 shares in the last quarter. Harvest Fund Management Co. Ltd purchased a new position in Bristol-Myers Squibb during the 3rd quarter valued at about $133,000. Loomis Sayles & Co. L P increased its position in shares of Bristol-Myers Squibb by 29.1% during the third quarter. Loomis Sayles & Co. L P now owns 277,599 shares of the biopharmaceutical company’s stock valued at $14,363,000 after buying an additional 62,602 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of Bristol-Myers Squibb by 1.8% in the third quarter. The Manufacturers Life Insurance Company now owns 1,711,074 shares of the biopharmaceutical company’s stock worth $88,531,000 after buying an additional 29,480 shares in the last quarter. Institutional investors own 76.41% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Bristol-Myers Squibb Stock Performance

Bristol-Myers Squibb stock opened at $59.18 on Thursday. The firm has a fifty day simple moving average of $58.42 and a two-hundred day simple moving average of $56.15. Bristol-Myers Squibb has a twelve month low of $39.35 and a twelve month high of $63.33. The company has a market capitalization of $120.08 billion, a PE ratio of -13.39, a P/E/G ratio of 2.07 and a beta of 0.43. The company has a quick ratio of 1.15, a current ratio of 1.25 and a debt-to-equity ratio of 2.90.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly 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%. Research analysts expect that Bristol-Myers Squibb will post 6.74 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Friday, April 4th will be issued a dividend of $0.62 per share. The ex-dividend date of this dividend is Friday, April 4th. This represents a $2.48 dividend on an annualized basis and a yield of 4.19%. Bristol-Myers Squibb’s dividend payout ratio is currently -56.11%.

Insider Buying and Selling at Bristol-Myers Squibb

In other news, EVP Samit Hirawat acquired 1,823 shares of the stock in a transaction dated Friday, February 14th. The stock was purchased at an average cost of $54.84 per share, with a total value of $99,973.32. Following the completion of the purchase, the executive vice president now owns 63,932 shares in the company, valued at approximately $3,506,030.88. The trade was a 2.94 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.09% of the stock is currently owned by corporate 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.