Adage Capital Partners GP L.L.C. Grows Position in Bristol-Myers Squibb (NYSE:BMY)

Adage Capital Partners GP L.L.C. lifted its position in Bristol-Myers Squibb (NYSE:BMY - Free Report) by 72.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,769,227 shares of the biopharmaceutical company's stock after purchasing an additional 3,275,061 shares during the quarter. Bristol-Myers Squibb comprises 0.8% of Adage Capital Partners GP L.L.C.'s holdings, making the stock its 17th largest position. Adage Capital Partners GP L.L.C. owned approximately 0.38% of Bristol-Myers Squibb worth $439,427,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Truist Financial Corp raised its stake in shares of Bristol-Myers Squibb by 3.9% during the 4th quarter. Truist Financial Corp now owns 1,597,150 shares of the biopharmaceutical company's stock valued at $90,335,000 after buying an additional 60,365 shares during the last quarter. Contravisory Investment Management Inc. purchased a new position in Bristol-Myers Squibb during the fourth quarter valued at $488,000. Inspire Trust Co. N.A. boosted its holdings in Bristol-Myers Squibb by 39.0% in the 3rd quarter. Inspire Trust Co. N.A. now owns 103,500 shares of the biopharmaceutical company's stock worth $5,355,000 after buying an additional 29,044 shares during the last quarter. Versant Capital Management Inc increased its position in shares of Bristol-Myers Squibb by 14.0% during the fourth quarter. Versant Capital Management Inc now owns 78,690 shares of the biopharmaceutical company's stock worth $4,451,000 after purchasing an additional 9,692 shares in the last quarter. Finally, Decker Retirement Planning Inc. purchased a new position in Bristol-Myers Squibb in the 4th quarter valued at $474,000. 76.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $55.00 price target (down previously from $67.00) on shares of Bristol-Myers Squibb in a report on Tuesday, April 8th. UBS Group reduced their target price on Bristol-Myers Squibb from $60.00 to $54.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. Citigroup increased their price target on Bristol-Myers Squibb from $60.00 to $65.00 and gave the stock a "neutral" rating in a report on Tuesday, January 28th. Cantor Fitzgerald restated a "neutral" rating and issued a $55.00 price objective on shares of Bristol-Myers Squibb in a report on Tuesday. Finally, Wells Fargo & Company boosted their price target on shares of Bristol-Myers Squibb from $60.00 to $62.00 and gave the company an "equal weight" rating in a research note on Friday, February 7th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating, five have issued a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $58.13.

Insider Transactions at Bristol-Myers Squibb

In other news, EVP Samit Hirawat purchased 1,823 shares of the company's stock in a transaction that occurred on Friday, February 14th. The shares were purchased at an average price of $54.84 per share, for a total transaction of $99,973.32. Following the purchase, the executive vice president now directly owns 63,932 shares of the company's stock, valued at $3,506,030.88. This represents a 2.94 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.09% of the company's stock.

Bristol-Myers Squibb Stock Up 1.8 %

Shares of NYSE BMY opened at $49.82 on Wednesday. Bristol-Myers Squibb has a 1 year low of $39.35 and a 1 year high of $63.33. The company has a market capitalization of $101.37 billion, a price-to-earnings ratio of -11.27, a price-to-earnings-growth ratio of 2.07 and a beta of 0.41. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.25 and a quick ratio of 1.15. The business has a 50-day moving average of $56.71 and a two-hundred day moving average of $56.59.

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.47 by $0.20. Bristol-Myers Squibb had a positive return on equity of 13.93% and a negative net margin of 18.53%. On average, analysts forecast that Bristol-Myers Squibb will post 6.74 earnings per share for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Friday, April 4th will be issued a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 4.98%. The ex-dividend date of this dividend is Friday, April 4th. Bristol-Myers Squibb's payout ratio is -56.11%.

Bristol-Myers Squibb 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.

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