Nordea Investment Management AB Sells 815,575 Shares of Bristol-Myers Squibb (NYSE:BMY)

Nordea Investment Management AB cut its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 12.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,505,862 shares of the biopharmaceutical company’s stock after selling 815,575 shares during the quarter. Nordea Investment Management AB’s holdings in Bristol-Myers Squibb were worth $310,861,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in BMY. Reston Wealth Management LLC purchased a new stake in shares of Bristol-Myers Squibb during the third quarter valued at about $25,000. Hollencrest Capital Management lifted its holdings in shares of Bristol-Myers Squibb by 61.3% during the 3rd quarter. Hollencrest Capital Management now owns 492 shares of the biopharmaceutical company’s stock valued at $25,000 after purchasing an additional 187 shares during the last quarter. Kennebec Savings Bank acquired a new stake in shares of Bristol-Myers Squibb in the 3rd quarter worth $28,000. Darwin Wealth Management LLC acquired a new position in Bristol-Myers Squibb during the 3rd quarter valued at about $29,000. Finally, Valued Wealth Advisors LLC raised its stake in Bristol-Myers Squibb by 1,168.1% in the third quarter. Valued Wealth Advisors LLC now owns 596 shares of the biopharmaceutical company’s stock valued at $31,000 after buying an additional 549 shares during the last quarter. Institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Stock Performance

BMY opened at $56.57 on Monday. The company has a debt-to-equity ratio of 2.83, a current ratio of 1.24 and a quick ratio of 1.09. The company has a market capitalization of $114.73 billion, a price-to-earnings ratio of -15.76, a price-to-earnings-growth ratio of 15.20 and a beta of 0.45. The business has a 50 day moving average price of $57.14 and a two-hundred day moving average price of $51.04. Bristol-Myers Squibb has a 1-year low of $39.35 and a 1-year high of $61.08.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share for the quarter, topping the consensus estimate of $1.49 by $0.31. Bristol-Myers Squibb had a negative net margin of 15.30% and a positive return on equity of 11.94%. The firm had revenue of $11.89 billion for the quarter, compared to analysts’ expectations of $11.26 billion. During the same period in the previous year, the company posted $2.00 EPS. The company’s quarterly revenue was up 8.4% compared to the same quarter last year. Research analysts predict that Bristol-Myers Squibb will post 0.93 EPS for the current fiscal year.

Bristol-Myers Squibb Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 3rd will be given a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 4.38%. This is a positive change from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. The ex-dividend date is Friday, January 3rd. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently -69.08%.

Insider Transactions at Bristol-Myers Squibb

In other news, SVP Phil M. Holzer sold 700 shares of Bristol-Myers Squibb stock in a transaction that occurred on 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 owns 11,760 shares in the company, valued at approximately $654,091.20. The trade was a 5.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Samit Hirawat acquired 1,830 shares of the firm’s stock in a transaction on Friday, November 1st. The shares were bought at an average cost of $54.67 per share, for a total transaction of $100,046.10. Following the acquisition, the executive vice president now owns 62,109 shares in the company, valued at approximately $3,395,499.03. The trade was a 3.04 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.09% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Sanford C. Bernstein assumed coverage on shares of Bristol-Myers Squibb in a research report on Thursday, October 17th. They issued a “market perform” rating and a $56.00 price objective for the company. Barclays lifted their target price on Bristol-Myers Squibb from $42.00 to $43.00 and gave the stock an “underweight” rating in a report on Monday, October 7th. Daiwa America upgraded Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 13th. Leerink Partnrs upgraded Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 12th. Finally, Leerink Partners upgraded shares of Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $55.00 to $73.00 in a research report on Tuesday, November 12th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, three have issued a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $55.64.

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.