Pictet Asset Management Holding SA Increases Position in Bristol-Myers Squibb (NYSE:BMY)

Pictet Asset Management Holding SA boosted its holdings in shares of Bristol-Myers Squibb (NYSE:BMY - Free Report) by 14.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,295,890 shares of the biopharmaceutical company's stock after acquiring an additional 161,739 shares during the quarter. Pictet Asset Management Holding SA owned 0.06% of Bristol-Myers Squibb worth $73,296,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the business. Fairway Wealth LLC bought a new position in shares of Bristol-Myers Squibb in the fourth quarter worth about $28,000. Comprehensive Financial Planning Inc. PA bought a new position in Bristol-Myers Squibb in the 4th quarter worth about $34,000. Dunhill Financial LLC grew its stake in Bristol-Myers Squibb by 39.8% in the 3rd quarter. Dunhill Financial LLC now owns 664 shares of the biopharmaceutical company's stock worth $34,000 after acquiring an additional 189 shares in the last quarter. Westend Capital Management LLC purchased a new position in shares of Bristol-Myers Squibb during the fourth quarter worth approximately $38,000. Finally, Tacita Capital Inc bought a new stake in shares of Bristol-Myers Squibb during the fourth quarter valued at approximately $39,000. Institutional investors own 76.41% of the company's stock.

Insider Buying and Selling at Bristol-Myers Squibb

In related news, EVP Samit Hirawat bought 1,823 shares of the company's stock in a transaction that occurred on Friday, February 14th. The shares were purchased at an average cost of $54.84 per share, with a total value of $99,973.32. Following the completion of the acquisition, the executive vice president now directly owns 63,932 shares in the company, 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.09% of the company's stock.

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Analysts Set New Price Targets

BMY has been the topic of several research reports. 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 report on Wednesday, January 8th. Bank of America restated a "neutral" rating and issued a $63.00 price objective on shares of Bristol-Myers Squibb in a report on Tuesday, December 10th. Cantor Fitzgerald increased their target price on shares of Bristol-Myers Squibb from $50.00 to $55.00 and gave the stock a "neutral" rating in a report on Tuesday, February 4th. Citigroup boosted their price target on shares of Bristol-Myers Squibb from $60.00 to $65.00 and gave the company a "neutral" rating in a report on Tuesday, January 28th. Finally, Jefferies Financial Group upgraded shares of Bristol-Myers Squibb from a "hold" rating to a "buy" rating and boosted their target price for the stock from $63.00 to $70.00 in a report on Monday, December 16th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, four have given a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $57.86.

Bristol-Myers Squibb Stock Performance

Shares of BMY stock traded up $1.03 during mid-day trading on Monday, reaching $61.05. The stock had a trading volume of 11,614,982 shares, compared to its average volume of 12,744,032. 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. The firm has a market cap of $124.22 billion, a price-to-earnings ratio of -13.81, a PEG ratio of 2.07 and a beta of 0.43. The business's fifty day moving average is $58.64 and its 200-day moving average is $56.44.

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last posted its quarterly earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share (EPS) for the quarter, topping 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, research analysts forecast that Bristol-Myers Squibb will post 6.74 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

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

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.