GAM Holding AG Sells 39,363 Shares of Bristol-Myers Squibb (NYSE:BMY)

GAM Holding AG lowered its position in Bristol-Myers Squibb (NYSE:BMY) by 16.3% in the 4th quarter, HoldingsChannel reports. The fund owned 202,646 shares of the biopharmaceutical company’s stock after selling 39,363 shares during the period. GAM Holding AG’s holdings in Bristol-Myers Squibb were worth $11,462,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. AMF Tjanstepension AB grew its position in Bristol-Myers Squibb by 6.9% during the third quarter. AMF Tjanstepension AB now owns 610,181 shares of the biopharmaceutical company’s stock worth $31,618,000 after buying an additional 39,419 shares in the last quarter. Swedbank AB grew its holdings in Bristol-Myers Squibb by 0.9% in 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 last quarter. Cyndeo Wealth Partners LLC boosted its holdings in shares of Bristol-Myers Squibb by 3.9% during the third quarter. Cyndeo Wealth Partners LLC now owns 9,535 shares of the biopharmaceutical company’s stock worth $493,000 after purchasing an additional 357 shares during the period. Vest Financial LLC bought a new stake in shares of Bristol-Myers Squibb in the 3rd quarter worth approximately $438,000. Finally, Brown Lisle Cummings Inc. increased its position in Bristol-Myers Squibb by 9.4% during the 3rd quarter. Brown Lisle Cummings Inc. now owns 23,315 shares of the biopharmaceutical company’s stock valued at $1,206,000 after purchasing an additional 2,002 shares during the period. Institutional investors own 76.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on BMY. Leerink Partners upgraded Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $55.00 to $73.00 in a report on Tuesday, November 12th. 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 research note on Tuesday, February 4th. Jefferies Financial Group raised Bristol-Myers Squibb from a “hold” rating to a “buy” rating and increased their price objective for the company from $63.00 to $70.00 in a research report on Monday, December 16th. Bank of America reissued a “neutral” rating and set a $63.00 price target on shares of Bristol-Myers Squibb in a report on Tuesday, December 10th. Finally, Wolfe Research started coverage on shares of Bristol-Myers Squibb in a research report on Friday, November 15th. They set a “peer perform” rating for the company. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, four have given a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, Bristol-Myers Squibb has a consensus rating of “Hold” and an average target price of $57.86.

Bristol-Myers Squibb Price Performance

NYSE:BMY opened at $53.85 on Tuesday. The company has a market capitalization of $109.22 billion, a P/E ratio of -12.18, a P/E/G ratio of 2.13 and a beta of 0.45. Bristol-Myers Squibb has a 12 month low of $39.35 and a 12 month high of $61.10. The business’s 50-day moving average is $57.21 and its 200 day moving average is $54.15. The company has a current ratio of 1.24, a quick ratio of 1.09 and a debt-to-equity ratio of 2.83.

Bristol-Myers Squibb (NYSE:BMY) last announced its earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share (EPS) for the quarter, beating 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 13.81%. On average, equities research analysts forecast that Bristol-Myers Squibb will post 6.75 earnings per share for the current fiscal year.

Bristol-Myers Squibb Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, January 3rd were paid a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 4.61%. This is a positive change from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. The ex-dividend date was Friday, January 3rd. Bristol-Myers Squibb’s payout ratio is presently -56.11%.

About Bristol-Myers Squibb

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.