New York State Teachers Retirement System Sells 59,120 Shares of Bristol-Myers Squibb Co (BMY)

New York State Teachers Retirement System reduced its stake in Bristol-Myers Squibb Co (NYSE:BMY) by 2.0% during the fourth quarter, Holdings Channel reports. The fund owned 2,964,231 shares of the biopharmaceutical company’s stock after selling 59,120 shares during the period. New York State Teachers Retirement System’s holdings in Bristol-Myers Squibb were worth $173,230,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in BMY. Monarch Capital Management Inc. increased its stake in Bristol-Myers Squibb by 2.9% in the third quarter. Monarch Capital Management Inc. now owns 31,669 shares of the biopharmaceutical company’s stock valued at $1,708,000 after buying an additional 905 shares in the last quarter. Private Asset Management Inc. increased its stake in Bristol-Myers Squibb by 6.6% in the third quarter. Private Asset Management Inc. now owns 179,091 shares of the biopharmaceutical company’s stock valued at $9,657,000 after buying an additional 11,135 shares in the last quarter. Acropolis Investment Management LLC increased its stake in Bristol-Myers Squibb by 21.3% in the third quarter. Acropolis Investment Management LLC now owns 2,815 shares of the biopharmaceutical company’s stock valued at $152,000 after buying an additional 495 shares in the last quarter. Burke & Herbert Bank & Trust Co. increased its stake in Bristol-Myers Squibb by 2.4% in the third quarter. Burke & Herbert Bank & Trust Co. now owns 13,970 shares of the biopharmaceutical company’s stock valued at $753,000 after buying an additional 332 shares in the last quarter. Finally, Summit Financial Wealth Advisors LLC increased its stake in Bristol-Myers Squibb by 18.2% in the third quarter. Summit Financial Wealth Advisors LLC now owns 53,864 shares of the biopharmaceutical company’s stock valued at $2,904,000 after buying an additional 8,303 shares in the last quarter. 69.67% of the stock is owned by institutional investors and hedge funds.

Institutional Ownership by Quarter for Bristol-Myers Squibb (NYSE:BMY)

Bristol-Myers Squibb Co (NYSE:BMY) opened at 56.41 on Tuesday. Bristol-Myers Squibb Co has a 12-month low of $46.01 and a 12-month high of $77.12. The stock has a market capitalization of $94.36 billion, a price-to-earnings ratio of 21.29 and a beta of 1.00. The firm has a 50-day moving average of $54.35 and a 200 day moving average of $54.88.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings data on Thursday, January 26th. The biopharmaceutical company reported $0.63 EPS for the quarter, missing the consensus estimate of $0.67 by $0.04. Bristol-Myers Squibb had a return on equity of 31.39% and a net margin of 22.94%. The company earned $5.24 billion during the quarter, compared to analyst estimates of $5.14 billion. During the same quarter in the prior year, the company posted $0.38 earnings per share. The business’s revenue was up 22.3% compared to the same quarter last year. On average, analysts predict that Bristol-Myers Squibb Co will post $2.82 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 1st. Stockholders of record on Friday, April 7th will be issued a $0.39 dividend. The ex-dividend date of this dividend is Wednesday, April 5th. This represents a $1.56 annualized dividend and a dividend yield of 2.77%. Bristol-Myers Squibb’s dividend payout ratio is currently 58.87%.

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Several analysts have recently weighed in on BMY shares. Vetr downgraded shares of Bristol-Myers Squibb from a “hold” rating to a “sell” rating and set a $56.28 price target for the company. in a research note on Monday, March 13th. BMO Capital Markets lifted their price target on shares of Bristol-Myers Squibb from $47.00 to $53.00 and gave the company a “market perform” rating in a research note on Monday, January 23rd. Zacks Investment Research downgraded shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research note on Monday, January 9th. Leerink Swann reaffirmed an “outperform” rating and set a $62.00 price target on shares of Bristol-Myers Squibb in a research note on Monday, January 30th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and set a $66.00 price target (down previously from $69.00) on shares of Bristol-Myers Squibb in a research note on Tuesday, January 31st. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and nine have given a buy rating to the company. Bristol-Myers Squibb currently has an average rating of “Hold” and a consensus price target of $61.61.

In other news, EVP Sandra Leung sold 92,405 shares of the company’s stock in a transaction that occurred on Monday, March 6th. The shares were sold at an average price of $57.02, for a total value of $5,268,933.10. Following the transaction, the executive vice president now directly owns 488,063 shares in the company, valued at approximately $27,829,352.26. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Theodore R. Samuels II acquired 12,000 shares of the firm’s stock in a transaction dated Monday, February 27th. The stock was bought at an average price of $56.77 per share, for a total transaction of $681,240.00. Following the completion of the acquisition, the director now owns 12,000 shares in the company, valued at approximately $681,240. The disclosure for this purchase can be found here. Corporate insiders own 0.24% of the company’s stock.

Bristol-Myers Squibb Company Profile

Bristol-Myers Squibb Company is engaged in the discovery, development, licensing, manufacturing, marketing, distribution and sale of biopharmaceutical products. The Company’s pharmaceutical products include chemically synthesized drugs, or small molecules, and products produced from biological processes called biologics.

5 Day Chart for NYSE:BMY

Want to see what other hedge funds are holding BMY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bristol-Myers Squibb Co (NYSE:BMY).

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