Renaissance Technologies LLC Increases Holdings in Bristol-Myers Squibb (NYSE:BMY)

Renaissance Technologies LLC grew its position in Bristol-Myers Squibb (NYSE:BMY - Free Report) by 16.7% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 1,060,533 shares of the biopharmaceutical company's stock after acquiring an additional 151,995 shares during the period. Renaissance Technologies LLC owned 0.05% of Bristol-Myers Squibb worth $59,984,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. lifted 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 purchasing an additional 1,373,209 shares during the period. Geode Capital Management LLC increased its position in shares of 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 in the last quarter. Norges Bank acquired a new stake in shares of Bristol-Myers Squibb in the 4th quarter worth about $1,989,525,000. Bank of New York Mellon Corp lifted its holdings in shares of Bristol-Myers Squibb by 6.4% in the fourth 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 in the last quarter. Finally, Invesco Ltd. lifted its stake in Bristol-Myers Squibb by 1.5% during the 4th quarter. Invesco Ltd. now owns 16,437,390 shares of the biopharmaceutical company's stock valued at $929,699,000 after acquiring an additional 242,186 shares in the last quarter. 76.41% of the stock is currently owned by institutional investors and hedge funds.

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Insider Activity

In other news, EVP Samit Hirawat purchased 1,823 shares of the business's stock in a transaction on Friday, February 14th. The stock was acquired at an average price of $54.84 per share, for a total transaction of $99,973.32. Following the acquisition, 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 acquisition 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 Price Performance

Shares of BMY traded down $1.48 during trading hours on Tuesday, reaching $49.86. 6,064,655 shares of the stock traded hands, compared to its average volume of 12,907,749. Bristol-Myers Squibb has a 52-week low of $39.35 and a 52-week high of $63.33. The company has a current ratio of 1.25, a quick ratio of 1.15 and a debt-to-equity ratio of 2.90. The company has a market cap of $101.45 billion, a P/E ratio of -11.28, a price-to-earnings-growth ratio of 2.07 and a beta of 0.41. The company's 50-day moving average price is $57.54 and its two-hundred day moving average price is $56.78.

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last issued its earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share (EPS) 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%. On average, analysts anticipate that Bristol-Myers Squibb will post 6.74 earnings per share for the current year.

Bristol-Myers Squibb Announces Dividend

The business 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 4.97%. The ex-dividend date of this dividend is Friday, April 4th. Bristol-Myers Squibb's dividend payout ratio (DPR) is presently -56.11%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Cantor Fitzgerald raised their price target 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. Jefferies Financial Group raised Bristol-Myers Squibb from a "hold" rating to a "buy" rating and increased their price objective for the stock from $63.00 to $70.00 in a report on Monday, December 16th. UBS Group reduced their price target 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. Wells Fargo & Company upped their price objective on shares of Bristol-Myers Squibb from $60.00 to $62.00 and gave the stock an "equal weight" rating in a research report on Friday, February 7th. Finally, Citigroup lifted 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. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating, four have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, Bristol-Myers Squibb has an average rating of "Hold" and a consensus price target of $57.67.

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.