Ameritas Investment Partners Inc. Lowers Stake in Bristol-Myers Squibb (NYSE:BMY)

by · The Cerbat Gem

Ameritas Investment Partners Inc. lessened its stake in Bristol-Myers Squibb (NYSE:BMY – Free Report) by 6.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 64,266 shares of the biopharmaceutical company’s stock after selling 4,702 shares during the period. Ameritas Investment Partners Inc.’s holdings in Bristol-Myers Squibb were worth $4,110,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BMY. Dakota Wealth Management purchased a new stake in Bristol-Myers Squibb in the first quarter worth about $332,000. Covestor Ltd lifted its position in shares of Bristol-Myers Squibb by 111.5% in the 1st quarter. Covestor Ltd now owns 2,052 shares of the biopharmaceutical company’s stock worth $150,000 after purchasing an additional 1,082 shares during the period. NewEdge Advisors LLC lifted its position in shares of Bristol-Myers Squibb by 53.2% in the 1st quarter. NewEdge Advisors LLC now owns 165,336 shares of the biopharmaceutical company’s stock worth $12,075,000 after purchasing an additional 57,444 shares during the period. Ergoteles LLC purchased a new position in Bristol-Myers Squibb during the first quarter valued at approximately $1,997,000. Finally, Mackenzie Financial Corp raised its stake in Bristol-Myers Squibb by 25.1% in the first quarter. Mackenzie Financial Corp now owns 338,563 shares of the biopharmaceutical company’s stock worth $24,725,000 after buying an additional 68,018 shares in the last quarter. Institutional investors own 74.98% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on BMY. Truist Financial reaffirmed a “buy” rating and set a $84.00 target price on shares of Bristol-Myers Squibb in a research report on Friday, October 6th. Daiwa Capital Markets lowered Bristol-Myers Squibb from an “outperform” rating to a “neutral” rating and cut their target price for the company from $68.00 to $54.00 in a research note on Thursday, November 2nd. TD Cowen decreased their price target on shares of Bristol-Myers Squibb from $80.00 to $66.00 and set a “market perform” rating for the company in a research report on Friday, September 15th. Barclays cut their price objective on shares of Bristol-Myers Squibb from $60.00 to $51.00 and set an “equal weight” rating on the stock in a research report on Friday, October 27th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Bristol-Myers Squibb in a research report on Thursday, November 9th. They set a “hold” rating and a $55.00 target price for the company. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $63.59.

Get Our Latest Report on Bristol-Myers Squibb

Bristol-Myers Squibb Trading Down 0.2 %

NYSE BMY opened at $48.92 on Wednesday. The company has a fifty day moving average of $54.15 and a 200 day moving average of $59.92. The company has a market capitalization of $99.53 billion, a PE ratio of 12.41, a P/E/G ratio of 1.57 and a beta of 0.38. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.18 and a quick ratio of 1.07. Bristol-Myers Squibb has a 1 year low of $48.42 and a 1 year high of $81.43.

Bristol-Myers Squibb (NYSE:BMY – Get Free Report) last issued its earnings results on Thursday, October 26th. The biopharmaceutical company reported $2.00 EPS for the quarter, topping analysts’ consensus estimates of $1.76 by $0.24. Bristol-Myers Squibb had a return on equity of 51.59% and a net margin of 18.44%. The firm had revenue of $10.97 billion for the quarter, compared to the consensus estimate of $10.96 billion. During the same quarter in the prior year, the business earned $1.99 earnings per share. The company’s revenue was down 2.2% compared to the same quarter last year. Research analysts forecast that Bristol-Myers Squibb will post 7.56 earnings per share for the current year.

Bristol-Myers Squibb Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 1st. Shareholders of record on Friday, October 6th were issued a $0.57 dividend. The ex-dividend date was Thursday, October 5th. This represents a $2.28 dividend on an annualized basis and a yield of 4.66%. Bristol-Myers Squibb’s payout ratio is 57.87%.

Insiders Place Their Bets

In other Bristol-Myers Squibb news, Director Theodore R. Samuels II purchased 8,500 shares of the business’s stock in a transaction that occurred on Monday, November 20th. The stock was purchased at an average price of $49.81 per share, for a total transaction of $423,385.00. Following the purchase, the director now directly owns 35,500 shares in the company, valued at $1,768,255. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.08% of the company’s stock.

Bristol-Myers Squibb Company Profile

(Free Report)

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, 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; Orencia for adult patients with active RA and psoriatic arthritis; and Sprycel for the treatment of Philadelphia chromosome-positive chronic myeloid leukemia.

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