Bristol-Myers Squibb (NYSE:BMY) Position Reduced by Cypress Asset Management Inc. TX

Cypress Asset Management Inc. TX reduced its holdings in Bristol-Myers Squibb (NYSE:BMYGet Rating) by 2.3% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 21,574 shares of the biopharmaceutical company’s stock after selling 500 shares during the quarter. Cypress Asset Management Inc. TX’s holdings in Bristol-Myers Squibb were worth $1,661,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Spectrum Management Group LLC grew its stake in shares of Bristol-Myers Squibb by 113.1% in the 1st quarter. Spectrum Management Group LLC now owns 341 shares of the biopharmaceutical company’s stock worth $25,000 after purchasing an additional 181 shares during the last quarter. Schubert & Co increased its position in shares of Bristol-Myers Squibb by 119.1% in the second quarter. Schubert & Co now owns 333 shares of the biopharmaceutical company’s stock worth $26,000 after acquiring an additional 181 shares in the last quarter. Castle Wealth Management LLC purchased a new position in shares of Bristol-Myers Squibb in the second quarter worth approximately $26,000. LFA Lugano Financial Advisors SA purchased a new position in shares of Bristol-Myers Squibb in the second quarter worth approximately $30,000. Finally, Kessler Investment Group LLC acquired a new stake in shares of Bristol-Myers Squibb during the second quarter worth approximately $31,000. 76.54% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently commented on BMY shares. Berenberg Bank cut shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating and decreased their price target for the stock from $82.00 to $76.00 in a report on Wednesday, September 14th. JPMorgan Chase & Co. lifted their target price on shares of Bristol-Myers Squibb from $80.00 to $85.00 in a research note on Thursday, July 28th. The Goldman Sachs Group reiterated a “buy” rating and issued a $85.00 target price on shares of Bristol-Myers Squibb in a research note on Tuesday, September 27th. BMO Capital Markets lifted their target price on shares of Bristol-Myers Squibb from $92.00 to $94.00 and gave the company an “outperform” rating in a research note on Monday, September 12th. Finally, Morgan Stanley dropped their price target on shares of Bristol-Myers Squibb from $61.00 to $60.00 and set an “underweight” rating on the stock in a research report on Thursday, October 27th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $79.00.

Bristol-Myers Squibb Stock Up 0.4 %

NYSE BMY traded up $0.28 during trading hours on Thursday, reaching $79.14. 5,700,281 shares of the company’s stock were exchanged, compared to its average volume of 9,966,491. The company’s 50-day moving average is $73.70 and its two-hundred day moving average is $74.07. Bristol-Myers Squibb has a one year low of $53.22 and a one year high of $81.17. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.31 and a current ratio of 1.42. The company has a market capitalization of $168.26 billion, a price-to-earnings ratio of 25.78, a price-to-earnings-growth ratio of 1.86 and a beta of 0.40.

Bristol-Myers Squibb (NYSE:BMYGet Rating) last released its quarterly earnings data on Wednesday, October 26th. The biopharmaceutical company reported $1.99 EPS for the quarter, beating the consensus estimate of $1.83 by $0.16. Bristol-Myers Squibb had a return on equity of 50.30% and a net margin of 14.29%. The company had revenue of $11.22 billion during the quarter, compared to the consensus estimate of $11.18 billion. During the same quarter in the prior year, the firm posted $2.00 EPS. The firm’s revenue for the quarter was down 3.5% compared to the same quarter last year. On average, analysts forecast that Bristol-Myers Squibb will post 7.6 EPS for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 1st. Shareholders of record on Friday, October 7th were given a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a yield of 2.73%. The ex-dividend date of this dividend was Thursday, October 6th. Bristol-Myers Squibb’s dividend payout ratio is presently 70.36%.

Insider Activity

In related news, EVP Ann Powell sold 25,000 shares of Bristol-Myers Squibb stock in a transaction that occurred on Wednesday, September 14th. The stock was sold at an average price of $70.75, for a total value of $1,768,750.00. Following the transaction, the executive vice president now directly owns 50,476 shares of the company’s stock, valued at $3,571,177. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, EVP Rupert Vessey sold 45,910 shares of the company’s stock in a transaction on Monday, November 7th. The stock was sold at an average price of $78.88, for a total transaction of $3,621,380.80. Following the transaction, the executive vice president now owns 57,079 shares of the company’s stock, valued at approximately $4,502,391.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Ann Powell sold 25,000 shares of the stock in a transaction dated Wednesday, September 14th. The stock was sold at an average price of $70.75, for a total value of $1,768,750.00. Following the sale, the executive vice president now directly owns 50,476 shares in the company, valued at approximately $3,571,177. The disclosure for this sale can be found here. Over the last three months, insiders have sold 296,111 shares of company stock valued at $21,582,900. 0.09% of the stock is currently owned by corporate insiders.

About Bristol-Myers Squibb

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Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, and markets biopharmaceutical products worldwide. It offers products for hematology, oncology, cardiovascular, immunology, fibrotic, neuroscience, and covid-19 diseases. The company's products include Revlimid, an oral immunomodulatory drug for the treatment of multiple myeloma; Eliquis, an oral inhibitor for reduction in risk of stroke/systemic embolism in NVAF, and for the treatment of DVT/PE; Opdivo for anti-cancer indications; Pomalyst/Imnovid indicated for patients with multiple myeloma; and Orencia for adult patients with active RA and psoriatic arthritis.

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Institutional Ownership by Quarter for Bristol-Myers Squibb (NYSE:BMY)

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