FineMark National Bank & Trust Cuts Stock Holdings in Bristol-Myers Squibb (NYSE:BMY)

FineMark National Bank & Trust lessened its holdings in Bristol-Myers Squibb (NYSE:BMY – Get Rating) by 42.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 65,565 shares of the biopharmaceutical company’s stock after selling 47,427 shares during the period. FineMark National Bank & Trust’s holdings in Bristol-Myers Squibb were worth $4,088,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Horan Securities Inc. purchased a new position in shares of Bristol-Myers Squibb in the 4th quarter valued at $29,000. Steward Financial Group LLC purchased a new position in shares of Bristol-Myers Squibb in the 4th quarter valued at $29,000. Bell Investment Advisors Inc purchased a new position in shares of Bristol-Myers Squibb in the 3rd quarter valued at $29,000. Consolidated Planning Corp purchased a new position in shares of Bristol-Myers Squibb in the 3rd quarter valued at $34,000. Finally, Leverty Financial Group LLC purchased a new position in shares of Bristol-Myers Squibb in the 4th quarter valued at $37,000. 73.07% of the stock is currently owned by institutional investors and hedge funds.

In related news, CEO Giovanni Caforio sold 25,000 shares of Bristol-Myers Squibb stock in a transaction dated Monday, March 21st. The shares were sold at an average price of $71.52, for a total value of $1,788,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Karen Murphy Santiago sold 6,577 shares of Bristol-Myers Squibb stock in a transaction dated Monday, March 14th. The shares were sold at an average price of $69.19, for a total transaction of $455,062.63. The disclosure for this sale can be found here. Insiders sold a total of 165,668 shares of company stock valued at $11,459,888 over the last ninety days. Company insiders own 0.09% of the company’s stock.

A number of research firms recently weighed in on BMY. Morgan Stanley lowered their price target on shares of Bristol-Myers Squibb from $66.00 to $64.00 and set an “underweight” rating for the company in a report on Wednesday, April 6th. Guggenheim raised their price target on shares of Bristol-Myers Squibb from $72.00 to $80.00 in a report on Monday, May 2nd. Wells Fargo & Company raised their price target on shares of Bristol-Myers Squibb from $65.00 to $70.00 and gave the company an “equal weight” rating in a report on Tuesday, May 17th. StockNews.com assumed coverage on shares of Bristol-Myers Squibb in a report on Thursday, March 31st. They set a “strong-buy” rating for the company. Finally, BMO Capital Markets raised their price objective on shares of Bristol-Myers Squibb from $87.00 to $92.00 in a report on Monday, May 2nd. One analyst has rated the stock with a sell rating, three have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $71.89.

Shares of NYSE BMY traded up $0.85 during midday trading on Monday, hitting $77.04. The company’s stock had a trading volume of 129,658 shares, compared to its average volume of 14,897,639. Bristol-Myers Squibb has a 1-year low of $53.22 and a 1-year high of $78.46. The firm’s fifty day moving average price is $74.99 and its 200-day moving average price is $67.13. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.23 and a current ratio of 1.32. The firm has a market cap of $164.02 billion, a P/E ratio of 27.02, a P/E/G ratio of 1.61 and a beta of 0.49.

Bristol-Myers Squibb (NYSE:BMY – Get Rating) last posted its quarterly earnings results on Friday, April 29th. The biopharmaceutical company reported $1.96 EPS for the quarter, beating the consensus estimate of $1.92 by $0.04. Bristol-Myers Squibb had a net margin of 13.31% and a return on equity of 48.37%. The business had revenue of $11.65 billion during the quarter, compared to analyst estimates of $11.34 billion. During the same period in the previous year, the business posted $1.74 EPS. The company’s quarterly revenue was up 5.2% on a year-over-year basis. As a group, research analysts predict that Bristol-Myers Squibb will post 7.57 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Monday, May 2nd. Stockholders of record on Friday, April 1st were issued a $0.54 dividend. This represents a $2.16 annualized dividend and a dividend yield of 2.80%. The ex-dividend date was Thursday, March 31st. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently 76.60%.

Bristol-Myers Squibb Profile (Get Rating)

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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