Y Intercept Hong Kong Ltd Sells 170,707 Shares of Bristol Myers Squibb Company $BMY

Y Intercept Hong Kong Ltd lessened its holdings in Bristol Myers Squibb Company (NYSE:BMY) by 85.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 28,055 shares of the biopharmaceutical company’s stock after selling 170,707 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Bristol Myers Squibb were worth $1,265,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank bought a new position in Bristol Myers Squibb during the second quarter worth about $1,554,154,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Bristol Myers Squibb by 16.8% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 70,802,680 shares of the biopharmaceutical company’s stock worth $3,277,456,000 after buying an additional 10,195,775 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of Bristol Myers Squibb by 428.5% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 11,311,281 shares of the biopharmaceutical company’s stock worth $523,599,000 after buying an additional 9,171,098 shares during the period. Man Group plc boosted its stake in Bristol Myers Squibb by 280.4% in the 2nd quarter. Man Group plc now owns 7,465,845 shares of the biopharmaceutical company’s stock valued at $345,594,000 after buying an additional 5,503,391 shares in the last quarter. Finally, Franklin Resources Inc. boosted its stake in Bristol Myers Squibb by 142.8% in the 2nd quarter. Franklin Resources Inc. now owns 8,436,811 shares of the biopharmaceutical company’s stock valued at $390,541,000 after buying an additional 4,961,869 shares in the last quarter. 76.41% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have issued reports on BMY. Guggenheim reiterated a “buy” rating on shares of Bristol Myers Squibb in a research note on Tuesday, December 23rd. Bank of America upgraded shares of Bristol Myers Squibb from a “neutral” rating to a “buy” rating and increased their target price for the stock from $52.00 to $61.00 in a research report on Monday, December 15th. Scotiabank reissued a “sector perform” rating and set a $60.00 price target (up from $53.00) on shares of Bristol Myers Squibb in a report on Friday, January 9th. BMO Capital Markets reaffirmed a “market perform” rating on shares of Bristol Myers Squibb in a research note on Monday, November 17th. Finally, Citigroup reaffirmed a “neutral” rating and set a $60.00 price objective (up previously from $53.00) on shares of Bristol Myers Squibb in a report on Tuesday. Seven equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Bristol Myers Squibb has a consensus rating of “Hold” and an average target price of $57.43.

Bristol Myers Squibb Price Performance

Shares of BMY stock opened at $55.03 on Friday. Bristol Myers Squibb Company has a 1 year low of $42.52 and a 1 year high of $63.33. The company has a current ratio of 1.27, a quick ratio of 1.17 and a debt-to-equity ratio of 2.39. The firm’s 50 day moving average is $53.41 and its 200-day moving average is $48.66. The firm has a market capitalization of $112.02 billion, a price-to-earnings ratio of 18.59, a PEG ratio of 0.17 and a beta of 0.29.

Bristol Myers Squibb (NYSE:BMY) last posted its quarterly earnings data on Thursday, October 30th. The biopharmaceutical company reported $1.63 earnings per share for the quarter, topping the consensus estimate of $1.52 by $0.11. Bristol Myers Squibb had a net margin of 12.57% and a return on equity of 76.53%. The firm had revenue of $12.22 billion during the quarter, compared to analysts’ expectations of $11.75 billion. During the same quarter in the previous year, the company posted $1.80 EPS. Bristol Myers Squibb’s revenue was up 2.8% on a year-over-year basis. Sell-side analysts forecast that Bristol Myers Squibb Company will post 6.74 EPS for the current fiscal year.

Bristol Myers Squibb Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 2nd. Stockholders of record on Friday, January 2nd will be given a dividend of $0.63 per share. The ex-dividend date is Friday, January 2nd. This is an increase from Bristol Myers Squibb’s previous quarterly dividend of $0.62. This represents a $2.52 dividend on an annualized basis and a dividend yield of 4.6%. Bristol Myers Squibb’s dividend payout ratio is presently 85.14%.

About Bristol Myers Squibb

Bristol Myers Squibb is a global biopharmaceutical company headquartered in Princeton, New Jersey, focused on discovering, developing and delivering medicines for serious diseases. The company’s core activities include research and development, clinical development, manufacturing and commercialization of prescription pharmaceuticals across multiple therapeutic areas. BMS concentrates on advancing therapies in oncology, hematology, immunology, cardiovascular disease and specialty areas through both small molecules and biologics.

BMS’s marketed portfolio and late‑stage pipeline reflect a strong emphasis on cancer and immune‑mediated conditions.