Enhancing Capital LLC Makes New $2.11 Million Investment in Bristol-Myers Squibb (NYSE:BMY)

Enhancing Capital LLC bought a new stake in Bristol-Myers Squibb (NYSE:BMY - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 37,300 shares of the biopharmaceutical company's stock, valued at approximately $2,110,000. Bristol-Myers Squibb comprises approximately 1.7% of Enhancing Capital LLC's investment portfolio, making the stock its 19th largest position.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Xponance Inc. raised its holdings in shares of Bristol-Myers Squibb by 3.5% in the fourth quarter. Xponance Inc. now owns 333,939 shares of the biopharmaceutical company's stock valued at $18,888,000 after purchasing an additional 11,370 shares during the last quarter. Boston Partners grew its position in Bristol-Myers Squibb by 15.8% during the fourth quarter. Boston Partners now owns 3,890,966 shares of the biopharmaceutical company's stock valued at $220,088,000 after buying an additional 529,575 shares during the period. Generali Asset Management SPA SGR bought a new position in Bristol-Myers Squibb during the fourth quarter valued at about $16,061,000. Evoke Wealth LLC bought a new position in Bristol-Myers Squibb during the fourth quarter valued at about $309,000. Finally, Horizon Investments LLC grew its position in Bristol-Myers Squibb by 3.1% during the fourth quarter. Horizon Investments LLC now owns 50,027 shares of the biopharmaceutical company's stock valued at $2,799,000 after buying an additional 1,503 shares during the period. Hedge funds and other institutional investors own 76.41% of the company's stock.

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Analysts Set New Price Targets

BMY has been the subject of several research reports. Citigroup increased their price target on shares of Bristol-Myers Squibb from $60.00 to $65.00 and gave the company a "neutral" rating in a research report on Tuesday, January 28th. Truist Financial increased their price target on shares of Bristol-Myers Squibb from $62.00 to $65.00 and gave the company a "buy" rating in a research report on Wednesday, January 8th. Wells Fargo & Company increased their price target on shares of 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. Jefferies Financial Group upgraded shares of 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 report on Monday, December 16th. Finally, Bank of America reiterated a "neutral" rating and set a $63.00 target price on shares of Bristol-Myers Squibb in a research report on Tuesday, December 10th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating, four have assigned a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $57.86.

Bristol-Myers Squibb Price Performance

Shares of BMY stock traded up $0.64 during trading hours on Friday, reaching $61.06. The stock had a trading volume of 25,864,960 shares, compared to its average volume of 12,180,118. The stock's fifty day simple moving average is $58.17 and its 200 day simple moving average is $55.89. The company has a current ratio of 1.25, a quick ratio of 1.15 and a debt-to-equity ratio of 2.90. Bristol-Myers Squibb has a 12 month low of $39.35 and a 12 month high of $63.33. The firm has a market capitalization of $123.92 billion, a PE ratio of -13.82, a PEG ratio of 2.07 and a beta of 0.43.

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last released its quarterly earnings data 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 negative net margin of 18.53% and a positive return on equity of 13.93%. On average, equities research analysts predict that Bristol-Myers Squibb will post 6.74 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

The business also recently announced 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 is Friday, April 4th. Bristol-Myers Squibb's dividend payout ratio is currently -56.11%.

Insider Activity at Bristol-Myers Squibb

In related news, EVP Samit Hirawat bought 1,823 shares of the stock in a transaction that occurred 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 completion of the purchase, the executive vice president now directly owns 63,932 shares of the company's stock, valued at $3,506,030.88. This trade represents a 2.94 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 0.09% of the stock is currently owned by insiders.

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.