Bridgewater Associates LP Has $116.57 Million Stake in Bristol-Myers Squibb (NYSE:BMY)

Bridgewater Associates LP raised its position in Bristol-Myers Squibb (NYSE:BMY - Free Report) by 237.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,061,076 shares of the biopharmaceutical company's stock after purchasing an additional 1,450,718 shares during the quarter. Bridgewater Associates LP owned 0.10% of Bristol-Myers Squibb worth $116,574,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. Wealthspire Advisors LLC boosted its position in shares of Bristol-Myers Squibb by 0.6% in the fourth quarter. Wealthspire Advisors LLC now owns 28,679 shares of the biopharmaceutical company's stock worth $1,622,000 after buying an additional 170 shares during the period. Edmp Inc. raised its stake in Bristol-Myers Squibb by 0.4% during the fourth quarter. Edmp Inc. now owns 41,599 shares of the biopharmaceutical company's stock valued at $2,353,000 after buying an additional 171 shares in the last quarter. Trust Point Inc. lifted its stake in Bristol-Myers Squibb by 1.9% during the fourth quarter. Trust Point Inc. now owns 9,423 shares of the biopharmaceutical company's stock worth $533,000 after purchasing an additional 172 shares during the last quarter. Bedel Financial Consulting Inc. boosted its holdings in shares of Bristol-Myers Squibb by 3.2% in the 4th quarter. Bedel Financial Consulting Inc. now owns 5,690 shares of the biopharmaceutical company's stock valued at $340,000 after buying an additional 175 shares during the period. Finally, Horst & Graben Wealth Management LLC grew its holdings in shares of Bristol-Myers Squibb by 2.4% during the fourth quarter. Horst & Graben Wealth Management LLC now owns 7,538 shares of the biopharmaceutical company's stock valued at $426,000 after purchasing an additional 179 shares during the last quarter. Hedge funds and other institutional investors own 76.41% of the company's stock.

Analysts Set New Price Targets

BMY has been the topic of several recent research reports. Wells Fargo & Company lifted their price objective on shares of Bristol-Myers Squibb from $60.00 to $62.00 and gave the company an "equal weight" rating in a research report on Friday, February 7th. Cantor Fitzgerald lifted their target price on Bristol-Myers Squibb from $50.00 to $55.00 and gave the company a "neutral" rating in a research note on Tuesday, February 4th. Citigroup increased their price target on Bristol-Myers Squibb from $60.00 to $65.00 and gave the stock a "neutral" rating in a research note on Tuesday, January 28th. Truist Financial upped their price objective on shares of Bristol-Myers Squibb from $62.00 to $65.00 and gave the stock a "buy" rating in a report on Wednesday, January 8th. Finally, The Goldman Sachs Group reissued a "neutral" rating and set a $55.00 target price (down previously from $67.00) on shares of Bristol-Myers Squibb in a research note on Tuesday, April 8th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, four have issued a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $57.67.

Insider Buying and Selling at Bristol-Myers Squibb

In other news, EVP Samit Hirawat bought 1,823 shares of the stock in a transaction 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 completion of the purchase, the executive vice president now directly owns 63,932 shares of the company's stock, valued at $3,506,030.88. This trade represents a 2.94 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.07% of the company's stock.

Bristol-Myers Squibb Trading Down 0.3 %

Bristol-Myers Squibb stock traded down $0.13 during midday trading on Friday, reaching $49.24. The stock had a trading volume of 14,244,048 shares, compared to its average volume of 12,977,648. The firm's fifty day simple moving average is $56.98 and its two-hundred day simple moving average is $56.64. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.25 and a quick ratio of 1.15. Bristol-Myers Squibb has a twelve month low of $39.35 and a twelve month high of $63.33. The firm has a market cap of $100.18 billion, a price-to-earnings ratio of -11.14, a PEG ratio of 2.07 and a beta of 0.41.

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last posted its quarterly earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share for the quarter, beating the consensus estimate 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%. Equities analysts anticipate that Bristol-Myers Squibb will post 6.74 EPS for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Friday, April 4th will be given a $0.62 dividend. The ex-dividend date of this dividend is Friday, April 4th. This represents a $2.48 dividend on an annualized basis and a yield of 5.04%. Bristol-Myers Squibb's payout ratio is -56.11%.

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.