Magnetar Financial LLC Acquires 182,616 Shares of Bristol-Myers Squibb (NYSE:BMY)

Magnetar Financial LLC grew its stake in shares of Bristol-Myers Squibb (NYSE:BMY - Free Report) by 540.4% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 216,407 shares of the biopharmaceutical company's stock after acquiring an additional 182,616 shares during the period. Magnetar Financial LLC's holdings in Bristol-Myers Squibb were worth $12,240,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the company. Fairway Wealth LLC purchased a new stake in Bristol-Myers Squibb during the 4th quarter worth about $28,000. Darwin Wealth Management LLC bought a new stake in Bristol-Myers Squibb during the third quarter valued at $29,000. Dunhill Financial LLC raised its holdings in shares of Bristol-Myers Squibb by 39.8% in the 3rd quarter. Dunhill Financial LLC now owns 664 shares of the biopharmaceutical company's stock valued at $34,000 after acquiring an additional 189 shares in the last quarter. Comprehensive Financial Planning Inc. PA purchased a new position in Bristol-Myers Squibb in the 4th quarter worth approximately $34,000. Finally, Westend Capital Management LLC bought a new stake in shares of Bristol-Myers Squibb during the 4th quarter worth $38,000. Hedge funds and other institutional investors own 76.41% of the company's stock.

Analysts Set New Price Targets

A number of research firms have weighed in on BMY. Wells Fargo & Company raised their price target on 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 raised their price objective on Bristol-Myers Squibb from $50.00 to $55.00 and gave the company a "neutral" rating in a report on Tuesday, February 4th. Jefferies Financial Group raised Bristol-Myers Squibb from a "hold" rating to a "buy" rating and upped their target price for the stock from $63.00 to $70.00 in a research note on Monday, December 16th. Truist Financial lifted their price target on shares of Bristol-Myers Squibb from $62.00 to $65.00 and gave the stock a "buy" rating in a research note on Wednesday, January 8th. Finally, Bank of America reaffirmed a "neutral" rating and issued a $63.00 price objective on shares of Bristol-Myers Squibb in a research note on Tuesday, December 10th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, four have issued a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat, Bristol-Myers Squibb currently has an average rating of "Hold" and an average price target of $57.86.

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Bristol-Myers Squibb Trading Up 0.0 %

Shares of BMY stock traded up $0.02 during mid-day trading on Monday, reaching $61.09. The stock had a trading volume of 11,975,363 shares, compared to its average volume of 12,181,108. 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 stock's 50-day moving average price is $58.29 and its two-hundred day moving average price is $56.05. The firm has a market capitalization of $123.98 billion, a PE ratio of -13.82, a price-to-earnings-growth ratio of 2.07 and a beta of 0.43. Bristol-Myers Squibb has a 52-week low of $39.35 and a 52-week high of $63.33.

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

Bristol-Myers Squibb Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Friday, April 4th will be paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 4.06%. The ex-dividend date of this dividend is Friday, April 4th. Bristol-Myers Squibb's payout ratio is -56.11%.

Insider Activity at Bristol-Myers Squibb

In other news, EVP Samit Hirawat acquired 1,823 shares of the business's stock in a transaction on Friday, February 14th. The shares were acquired at an average cost of $54.84 per share, with a total value of $99,973.32. Following the transaction, the executive vice president now owns 63,932 shares in the company, valued at $3,506,030.88. The trade was a 2.94 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 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.