Meeder Asset Management Inc. Reduces Holdings in Bristol-Myers Squibb (NYSE:BMY)

Meeder Asset Management Inc. lowered its position in Bristol-Myers Squibb (NYSE:BMY) by 98.3% in the 4th quarter, HoldingsChannel reports. The fund owned 541 shares of the biopharmaceutical company’s stock after selling 31,131 shares during the period. Meeder Asset Management Inc.’s holdings in Bristol-Myers Squibb were worth $31,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in BMY. AIA Group Ltd raised its position in shares of Bristol-Myers Squibb by 4.1% in the fourth quarter. AIA Group Ltd now owns 23,744 shares of the biopharmaceutical company’s stock valued at $1,343,000 after purchasing an additional 925 shares during the period. Wellington Management Group LLP raised its holdings in Bristol-Myers Squibb by 3,880.0% during the 4th quarter. Wellington Management Group LLP now owns 5,977,505 shares of the biopharmaceutical company’s stock valued at $338,088,000 after acquiring an additional 5,827,317 shares during the period. Skba Capital Management LLC purchased a new stake in shares of Bristol-Myers Squibb during the fourth quarter worth $209,000. O Shaughnessy Asset Management LLC boosted its holdings in shares of Bristol-Myers Squibb by 11.2% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 613,378 shares of the biopharmaceutical company’s stock worth $34,693,000 after acquiring an additional 61,998 shares during the period. Finally, Bcwm LLC purchased a new position in shares of Bristol-Myers Squibb in the fourth quarter valued at $6,237,000. 76.41% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Bristol-Myers Squibb

In other news, EVP Samit Hirawat bought 1,823 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The shares were bought 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 directly owns 63,932 shares in the company, valued at $3,506,030.88. This represents a 2.94 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.09% of the company’s stock.

Analysts Set New Price Targets

BMY has been the subject of several analyst reports. Wells Fargo & Company raised their target price on Bristol-Myers Squibb from $60.00 to $62.00 and gave the stock an “equal weight” rating in a research note on Friday, February 7th. Jefferies Financial Group upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and raised their price objective for the company from $63.00 to $70.00 in a research report on Monday, December 16th. Truist Financial upped their target price on shares of Bristol-Myers Squibb from $62.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Citigroup boosted their price target on shares of Bristol-Myers Squibb from $60.00 to $65.00 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. Finally, 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. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, four have given a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $57.86.

Bristol-Myers Squibb Stock Up 0.1 %

Shares of NYSE BMY opened at $59.59 on Thursday. The stock has a market capitalization of $121.25 billion, a P/E ratio of -13.48, a PEG ratio of 2.07 and a beta of 0.43. Bristol-Myers Squibb has a one year low of $39.35 and a one year high of $63.33. The firm’s 50 day simple moving average is $58.74 and its two-hundred day simple moving average is $56.54. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.25 and a quick ratio of 1.15.

Bristol-Myers Squibb (NYSE:BMY) last issued its earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 EPS for the quarter, topping analysts’ consensus estimates 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%. As a group, analysts expect that Bristol-Myers Squibb will post 6.74 EPS for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Friday, April 4th will be paid a $0.62 dividend. The ex-dividend date is Friday, April 4th. This represents a $2.48 dividend on an annualized basis and a yield of 4.16%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently -56.11%.

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.