Martingale Asset Management L P Raises Stake in Bristol-Myers Squibb (NYSE:BMY)

Martingale Asset Management L P raised its holdings in Bristol-Myers Squibb (NYSE:BMY - Free Report) by 119.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 505,139 shares of the biopharmaceutical company's stock after acquiring an additional 275,282 shares during the period. Martingale Asset Management L P's holdings in Bristol-Myers Squibb were worth $28,571,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in shares of Bristol-Myers Squibb by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 189,944,516 shares of the biopharmaceutical company's stock valued at $10,743,262,000 after buying an additional 1,373,209 shares during the period. Geode Capital Management LLC increased its stake in Bristol-Myers Squibb by 2.7% during the fourth quarter. Geode Capital Management LLC now owns 44,391,247 shares of the biopharmaceutical company's stock worth $2,505,967,000 after acquiring an additional 1,187,231 shares during the last quarter. Norges Bank purchased a new stake in Bristol-Myers Squibb in the fourth quarter valued at $1,989,525,000. Bank of New York Mellon Corp lifted its stake in shares of Bristol-Myers Squibb by 6.4% in the 4th quarter. Bank of New York Mellon Corp now owns 24,733,868 shares of the biopharmaceutical company's stock valued at $1,398,948,000 after purchasing an additional 1,482,410 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in shares of Bristol-Myers Squibb by 1.5% during the 4th quarter. Invesco Ltd. now owns 16,437,390 shares of the biopharmaceutical company's stock worth $929,699,000 after purchasing an additional 242,186 shares during the period. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

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Bristol-Myers Squibb Stock Performance

Shares of BMY traded up $0.36 during mid-day trading on Monday, reaching $51.07. 4,879,542 shares of the company's stock were exchanged, compared to its average volume of 12,896,077. 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 stock has a market capitalization of $103.92 billion, a PE ratio of -11.55, a price-to-earnings-growth ratio of 2.07 and a beta of 0.41. Bristol-Myers Squibb has a 52-week low of $39.35 and a 52-week high of $63.33. The business's fifty day simple moving average is $57.71 and its 200-day simple moving average is $56.78.

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

Bristol-Myers Squibb Announces Dividend

The firm also recently disclosed 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. This represents a $2.48 annualized dividend and a yield of 4.86%. The ex-dividend date is Friday, April 4th. Bristol-Myers Squibb's payout ratio is -56.11%.

Analyst Ratings Changes

Several research analysts have weighed in on BMY shares. Cantor Fitzgerald increased their target price on shares of Bristol-Myers Squibb from $50.00 to $55.00 and gave the stock a "neutral" rating in a research note on Tuesday, February 4th. Wells Fargo & Company upped their price target on Bristol-Myers Squibb from $60.00 to $62.00 and gave the stock an "equal weight" rating in a research note on Friday, February 7th. The Goldman Sachs Group reiterated a "neutral" rating and issued a $55.00 price objective (down previously from $67.00) on shares of Bristol-Myers Squibb in a report on Tuesday, April 8th. UBS Group lowered their target price on Bristol-Myers Squibb from $60.00 to $54.00 and set a "neutral" rating for the company in a report on Friday. Finally, Jefferies Financial Group upgraded shares of Bristol-Myers Squibb from a "hold" rating to a "buy" rating and boosted their price target for the stock from $63.00 to $70.00 in a research note on Monday, December 16th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating, four have issued a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $57.67.

Insider Activity 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, for a total transaction of $99,973.32. Following the completion of the transaction, the executive vice president now owns 63,932 shares in the company, valued at approximately $3,506,030.88. The trade was a 2.94 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.09% of the company's stock.

Bristol-Myers Squibb Company 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.