Bristol-Myers Squibb (NYSE:BMY) Shares Purchased by Convergence Investment Partners LLC

Convergence Investment Partners LLC raised its position in Bristol-Myers Squibb (NYSE:BMY - Free Report) by 8.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 90,493 shares of the biopharmaceutical company's stock after purchasing an additional 6,888 shares during the quarter. Bristol-Myers Squibb accounts for approximately 1.1% of Convergence Investment Partners LLC's holdings, making the stock its 16th biggest holding. Convergence Investment Partners LLC's holdings in Bristol-Myers Squibb were worth $5,118,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in BMY. FMR LLC grew its holdings in shares of Bristol-Myers Squibb by 10.5% in the third quarter. FMR LLC now owns 44,940,609 shares of the biopharmaceutical company's stock worth $2,325,227,000 after purchasing an additional 4,275,787 shares during the last quarter. Jennison Associates LLC lifted its holdings in Bristol-Myers Squibb by 420.1% during the 3rd quarter. Jennison Associates LLC now owns 4,241,255 shares of the biopharmaceutical company's stock valued at $219,443,000 after buying an additional 3,425,789 shares in the last quarter. Janus Henderson Group PLC boosted its position in Bristol-Myers Squibb by 695.1% in the 3rd quarter. Janus Henderson Group PLC now owns 3,554,758 shares of the biopharmaceutical company's stock valued at $183,971,000 after buying an additional 3,107,672 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Bristol-Myers Squibb by 18.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 19,074,823 shares of the biopharmaceutical company's stock worth $986,931,000 after purchasing an additional 3,002,418 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in Bristol-Myers Squibb by 3.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 61,030,403 shares of the biopharmaceutical company's stock valued at $3,157,713,000 after purchasing an additional 1,968,729 shares during the period. Institutional investors own 76.41% of the company's stock.

Bristol-Myers Squibb Trading Up 0.1 %

Bristol-Myers Squibb stock traded up $0.06 during midday trading on Friday, hitting $55.85. 11,100,311 shares of the stock were exchanged, compared to its average volume of 10,886,042. 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 has a market capitalization of $113.33 billion, a price-to-earnings ratio of -12.63, a PEG ratio of 2.04 and a beta of 0.45. The stock's 50-day simple moving average is $56.99 and its 200 day simple moving average is $54.24. Bristol-Myers Squibb has a fifty-two week low of $39.35 and a fifty-two week high of $61.10.

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

Bristol-Myers Squibb Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, January 3rd were paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.44%. This is an increase from Bristol-Myers Squibb's previous quarterly dividend of $0.60. The ex-dividend date of this dividend was Friday, January 3rd. Bristol-Myers Squibb's payout ratio is -56.11%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on BMY. Morgan Stanley lifted their price objective on shares of Bristol-Myers Squibb from $36.00 to $39.00 and gave the stock an "underweight" rating in a research report on Tuesday, November 12th. BMO Capital Markets upped their price target on Bristol-Myers Squibb from $57.00 to $61.00 and gave the stock a "market perform" rating in a research report on Tuesday, November 12th. Wells Fargo & Company raised their price objective on 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. Jefferies Financial Group upgraded Bristol-Myers Squibb from a "hold" rating to a "buy" rating and increased their price target for the company from $63.00 to $70.00 in a research note on Monday, December 16th. Finally, Wolfe Research began coverage on Bristol-Myers Squibb in a research note on Friday, November 15th. They set a "peer perform" rating on the stock. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, four have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Bristol-Myers Squibb presently has an average rating of "Hold" and an average price target of $57.86.

Insider Transactions at Bristol-Myers Squibb

In other news, EVP Samit Hirawat acquired 1,823 shares of the business's stock in a transaction that occurred on Friday, February 14th. The shares were purchased 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 owns 63,932 shares of the company's stock, valued at $3,506,030.88. This represents a 2.94 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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.