Bristol-Myers Squibb (NYSE:BMY) Stake Boosted by Bryn Mawr Capital Management LLC

Bryn Mawr Capital Management LLC raised its stake in Bristol-Myers Squibb (NYSE:BMY - Free Report) by 1,584.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 122,517 shares of the biopharmaceutical company's stock after purchasing an additional 115,245 shares during the quarter. Bryn Mawr Capital Management LLC's holdings in Bristol-Myers Squibb were worth $6,930,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in BMY. AMF Tjanstepension AB raised its position in Bristol-Myers Squibb by 6.9% in the third quarter. AMF Tjanstepension AB now owns 610,181 shares of the biopharmaceutical company's stock valued at $31,618,000 after purchasing an additional 39,419 shares during the period. Swedbank AB raised its position in Bristol-Myers Squibb by 0.9% in the third quarter. Swedbank AB now owns 3,139,552 shares of the biopharmaceutical company's stock valued at $162,440,000 after purchasing an additional 28,427 shares during the period. Sequoia Financial Advisors LLC raised its position in Bristol-Myers Squibb by 40.6% in the third quarter. Sequoia Financial Advisors LLC now owns 142,955 shares of the biopharmaceutical company's stock valued at $7,397,000 after purchasing an additional 41,276 shares during the period. Eastern Bank increased its position in shares of Bristol-Myers Squibb by 715.3% during the third quarter. Eastern Bank now owns 45,290 shares of the biopharmaceutical company's stock worth $2,343,000 after acquiring an additional 39,735 shares during the last quarter. Finally, Symphony Financial Ltd. Co. increased its position in shares of Bristol-Myers Squibb by 36.4% during the third quarter. Symphony Financial Ltd. Co. now owns 17,802 shares of the biopharmaceutical company's stock worth $930,000 after acquiring an additional 4,751 shares during the last quarter. 76.41% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Samit Hirawat acquired 1,823 shares of the stock in a transaction on Friday, February 14th. The shares were purchased at an average cost of $54.84 per share, for a total transaction of $99,973.32. Following the transaction, the executive vice president now owns 63,932 shares in the company, valued at approximately $3,506,030.88. This trade represents a 2.94 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.09% of the company's stock.

Bristol-Myers Squibb Stock Performance

BMY stock traded up $0.21 during midday trading on Friday, reaching $56.00. The company had a trading volume of 6,323,003 shares, compared to its average volume of 10,731,203. The company has a quick ratio of 1.15, a current ratio of 1.25 and a debt-to-equity ratio of 2.90. The stock has a 50 day moving average price of $56.99 and a 200 day moving average price of $54.24. Bristol-Myers Squibb has a fifty-two week low of $39.35 and a fifty-two week high of $61.10. The firm has a market capitalization of $113.63 billion, a PE ratio of -12.67, a P/E/G ratio of 2.04 and a beta of 0.45.

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

Bristol-Myers Squibb Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, January 3rd were given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 4.43%. This is a boost from Bristol-Myers Squibb's previous quarterly dividend of $0.60. The ex-dividend date was Friday, January 3rd. Bristol-Myers Squibb's payout ratio is presently -56.11%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on BMY. Jefferies Financial Group raised Bristol-Myers Squibb from a "hold" rating to a "buy" rating and lifted their target price for the stock from $63.00 to $70.00 in a research report on Monday, December 16th. Wolfe Research began coverage on Bristol-Myers Squibb in a research report on Friday, November 15th. They set a "peer perform" rating on the stock. Daiwa Capital Markets raised Bristol-Myers Squibb from a "neutral" rating to an "outperform" rating in a research report on Wednesday, November 13th. Truist Financial lifted their target price on Bristol-Myers Squibb from $62.00 to $65.00 and gave the stock a "buy" rating in a research report on Wednesday, January 8th. Finally, Daiwa America raised Bristol-Myers Squibb from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, November 13th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, four have given a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat.com, Bristol-Myers Squibb presently has an average rating of "Hold" and a consensus price target of $57.86.

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.