Bristol-Myers Squibb (NYSE:BMY) Shares Acquired by Forum Financial Management LP

Forum Financial Management LP lifted its stake in Bristol-Myers Squibb (NYSE:BMY - Free Report) by 47.8% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 16,884 shares of the biopharmaceutical company's stock after buying an additional 5,462 shares during the quarter. Forum Financial Management LP's holdings in Bristol-Myers Squibb were worth $955,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Norges Bank bought a new position in shares of Bristol-Myers Squibb during the 4th quarter valued at about $1,989,525,000. Wellington Management Group LLP boosted its stake in Bristol-Myers Squibb by 3,880.0% during the fourth quarter. Wellington Management Group LLP now owns 5,977,505 shares of the biopharmaceutical company's stock valued at $338,088,000 after buying an additional 5,827,317 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Bristol-Myers Squibb during the 4th quarter valued at approximately $257,618,000. Schroder Investment Management Group raised its holdings in shares of Bristol-Myers Squibb by 49.7% during the 4th quarter. Schroder Investment Management Group now owns 11,413,428 shares of the biopharmaceutical company's stock worth $639,837,000 after acquiring an additional 3,787,075 shares in the last quarter. Finally, Capital International Investors boosted its position in shares of Bristol-Myers Squibb by 7.5% during the 4th quarter. Capital International Investors now owns 45,866,624 shares of the biopharmaceutical company's stock valued at $2,593,940,000 after acquiring an additional 3,218,865 shares during the last quarter. Institutional investors own 76.41% of the company's stock.

Bristol-Myers Squibb Stock Down 0.3 %

NYSE BMY traded down $0.13 on Thursday, reaching $48.40. 11,409,292 shares of the stock traded hands, compared to its average volume of 12,459,383. Bristol-Myers Squibb has a 12 month low of $39.35 and a 12 month high of $63.33. The company has a fifty day moving average price of $56.60 and a 200-day moving average price of $56.54. The company has a market cap of $98.48 billion, a price-to-earnings ratio of -10.95, a PEG ratio of 2.07 and a beta of 0.41. The company has a debt-to-equity ratio of 2.90, a quick ratio of 1.15 and a current ratio of 1.25.

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

Bristol-Myers Squibb Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Friday, April 4th will be given a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 5.12%. The ex-dividend date is Friday, April 4th. Bristol-Myers Squibb's payout ratio is -56.11%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Citigroup boosted their price target on shares of Bristol-Myers Squibb from $60.00 to $65.00 and gave the stock a "neutral" rating in a research report on Tuesday, January 28th. Jefferies Financial Group dropped their price target on Bristol-Myers Squibb from $70.00 to $68.00 and set a "buy" rating for the company in a research report on Wednesday. Piper Sandler began coverage on Bristol-Myers Squibb in a research note on Tuesday. They issued an "overweight" rating and a $65.00 price objective for the company. Cantor Fitzgerald restated a "neutral" rating and set a $55.00 price target on shares of Bristol-Myers Squibb in a report on Tuesday. Finally, The Goldman Sachs Group reaffirmed a "neutral" rating and set a $55.00 price objective (down from $67.00) on shares of Bristol-Myers Squibb in a research note on Tuesday, April 8th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating, five have issued a buy rating and three have assigned 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 an average target price of $58.00.

Insider Buying and Selling

In other news, EVP Samit Hirawat bought 1,823 shares of Bristol-Myers Squibb stock in a transaction on Friday, February 14th. The stock was acquired at an average cost of $54.84 per share, for a total transaction of $99,973.32. Following the completion of the acquisition, the executive vice president now 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 SEC, which can be accessed through the SEC website. 0.09% of the stock is currently owned by company insiders.

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.