Bristol-Myers Squibb (NYSE:BMY) Shares Purchased by BI Asset Management Fondsmaeglerselskab A S

BI Asset Management Fondsmaeglerselskab A S raised its stake in shares of Bristol-Myers Squibb (NYSE:BMY - Free Report) by 156.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 267,653 shares of the biopharmaceutical company's stock after purchasing an additional 163,121 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in Bristol-Myers Squibb were worth $15,138,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in BMY. Fairway Wealth LLC purchased a new position in Bristol-Myers Squibb in the 4th quarter worth $28,000. Comprehensive Financial Planning Inc. PA acquired a new position in Bristol-Myers Squibb in the 4th quarter worth approximately $34,000. Westend Capital Management LLC purchased a new position in Bristol-Myers Squibb during the 4th quarter worth approximately $38,000. Tacita Capital Inc acquired a new stake in Bristol-Myers Squibb during the 4th quarter valued at approximately $39,000. Finally, M Holdings Securities Inc. purchased a new stake in shares of Bristol-Myers Squibb in the 4th quarter valued at $39,000. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on BMY shares. UBS Group decreased their target price on shares of Bristol-Myers Squibb from $60.00 to $54.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. Jefferies Financial Group lowered their target price on Bristol-Myers Squibb from $70.00 to $68.00 and set a "buy" rating on the stock in a research note on Wednesday. Truist Financial lifted their price target on Bristol-Myers Squibb from $62.00 to $65.00 and gave the company a "buy" rating in a research report on Wednesday, January 8th. The Goldman Sachs Group restated a "neutral" rating and issued a $55.00 price objective (down previously from $67.00) on shares of Bristol-Myers Squibb in a research report on Tuesday, April 8th. Finally, Piper Sandler initiated coverage on shares of Bristol-Myers Squibb in a report on Tuesday. They set an "overweight" rating and a $65.00 target price for the company. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating, five have given a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat, Bristol-Myers Squibb currently has an average rating of "Hold" and a consensus target price of $58.00.

Bristol-Myers Squibb Price Performance

Shares of Bristol-Myers Squibb stock traded up $0.13 on Thursday, hitting $48.66. 20,574,936 shares of the company were exchanged, compared to its average volume of 13,088,651. The company has a quick ratio of 1.15, a current ratio of 1.25 and a debt-to-equity ratio of 2.90. The company has a 50-day moving average price of $56.60 and a 200 day moving average price of $56.54. The stock has a market capitalization of $99.01 billion, a price-to-earnings ratio of -11.01, a price-to-earnings-growth ratio of 2.07 and a beta of 0.41. Bristol-Myers Squibb has a 1-year low of $39.35 and a 1-year high of $63.33.

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last issued its earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.55 by $0.25. Bristol-Myers Squibb had a positive return on equity of 13.93% and a negative net margin of 18.53%. The company had revenue of $11.20 billion during the quarter, compared to analysts' expectations of $10.77 billion. During the same period in the prior year, the business earned ($4.40) EPS. As a group, sell-side analysts predict that Bristol-Myers Squibb will post 6.74 earnings per share for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Friday, April 4th will be paid a $0.62 dividend. The ex-dividend date is Friday, April 4th. This represents a $2.48 annualized dividend and a dividend yield of 5.10%. Bristol-Myers Squibb's dividend payout ratio (DPR) is -56.11%.

Insider Transactions at Bristol-Myers Squibb

In other Bristol-Myers Squibb news, EVP Samit Hirawat bought 1,823 shares of the business's stock in a transaction on Friday, February 14th. The stock was bought at an average price of $54.84 per share, with a total value of $99,973.32. Following the completion of the purchase, the executive vice president now directly owns 63,932 shares in the company, valued at $3,506,030.88. The trade was a 2.94 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.09% of the company's stock.

About Bristol-Myers Squibb

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.