1,285,758 Shares in Bristol-Myers Squibb (NYSE:BMY) Bought by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS bought a new stake in shares of Bristol-Myers Squibb (NYSE:BMY - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 1,285,758 shares of the biopharmaceutical company's stock, valued at approximately $72,722,000. KLP Kapitalforvaltning AS owned approximately 0.06% of Bristol-Myers Squibb as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in BMY. Swedbank AB raised its holdings in shares of Bristol-Myers Squibb by 0.9% in the 3rd 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 in the last quarter. United Bank boosted its position in Bristol-Myers Squibb by 2.7% during the 3rd quarter. United Bank now owns 17,322 shares of the biopharmaceutical company's stock valued at $896,000 after acquiring an additional 456 shares in the last quarter. Thrivent Financial for Lutherans increased its holdings in shares of Bristol-Myers Squibb by 4.9% in the 3rd quarter. Thrivent Financial for Lutherans now owns 116,801 shares of the biopharmaceutical company's stock valued at $6,044,000 after acquiring an additional 5,407 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Bristol-Myers Squibb in the 3rd quarter worth $3,579,000. Finally, Darwin Wealth Management LLC purchased a new stake in shares of Bristol-Myers Squibb during the 3rd quarter worth $29,000. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on BMY. Wells Fargo & Company boosted their target price on shares of Bristol-Myers Squibb from $60.00 to $62.00 and gave the stock an "equal weight" rating in a report on Friday, February 7th. Cantor Fitzgerald boosted their price objective 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 upgraded shares of Bristol-Myers Squibb from a "hold" rating to a "buy" rating and raised their target price for the company from $63.00 to $70.00 in a research note on Monday, December 16th. Citigroup upped their price target on Bristol-Myers Squibb from $60.00 to $65.00 and gave the stock a "neutral" rating in a research report on Tuesday, January 28th. Finally, Truist Financial raised their price objective 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. Two equities 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 issued a strong buy rating to the stock. According to MarketBeat, Bristol-Myers Squibb has an average rating of "Hold" and an average target price of $57.86.

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Bristol-Myers Squibb Stock Performance

NYSE BMY traded down $0.02 on Wednesday, hitting $59.18. 11,579,179 shares of the company's stock traded hands, compared to its average volume of 12,172,370. The firm's 50-day moving average price is $58.42 and its two-hundred day moving average price is $56.15. The firm has a market capitalization of $120.08 billion, a PE ratio of -13.39, a P/E/G ratio of 2.07 and a beta of 0.43. 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 1-year low of $39.35 and a 1-year high of $63.33.

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last posted its 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 negative net margin of 18.53% and a positive return on equity of 13.93%. As a group, analysts expect 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 issued a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 4.19%. The ex-dividend date of this dividend is Friday, April 4th. Bristol-Myers Squibb's dividend payout ratio (DPR) is -56.11%.

Insider Activity at Bristol-Myers Squibb

In other Bristol-Myers Squibb news, EVP Samit Hirawat bought 1,823 shares of the company's stock in a transaction dated 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 directly owns 63,932 shares of the company's stock, valued at approximately $3,506,030.88. The trade was a 2.94 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.09% of the stock is 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.