Tower Research Capital LLC TRC Increases Stake in Bristol-Myers Squibb (NYSE:BMY)

Tower Research Capital LLC TRC grew its holdings in shares of Bristol-Myers Squibb (NYSE:BMY - Free Report) by 89.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 123,999 shares of the biopharmaceutical company's stock after acquiring an additional 58,625 shares during the quarter. Tower Research Capital LLC TRC's holdings in Bristol-Myers Squibb were worth $7,013,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of BMY. Fairway Wealth LLC bought a new stake in shares of Bristol-Myers Squibb in the 4th quarter worth approximately $28,000. Transce3nd LLC bought a new stake in shares of Bristol-Myers Squibb in the 4th quarter valued at about $28,000. Comprehensive Financial Planning Inc. PA purchased a new stake in Bristol-Myers Squibb during the 4th quarter valued at about $34,000. Westend Capital Management LLC bought a new position in Bristol-Myers Squibb during the 4th quarter worth approximately $38,000. Finally, Tacita Capital Inc purchased a new position in Bristol-Myers Squibb in the 4th quarter worth approximately $39,000. Hedge funds and other institutional investors own 76.41% of the company's stock.

Bristol-Myers Squibb Stock Down 1.7 %

BMY traded down $0.83 during trading on Friday, hitting $47.86. 16,290,683 shares of the company's stock traded hands, compared to its average volume of 13,089,597. Bristol-Myers Squibb has a 12-month low of $39.35 and a 12-month high of $63.33. The company's 50 day simple moving average is $56.50 and its two-hundred day simple moving average is $56.50. 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 $97.38 billion, a price-to-earnings ratio of -10.83, a PEG ratio of 2.07 and a beta of 0.41.

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last issued its earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.80 earnings per share for the quarter, topping analysts' consensus estimates of $1.55 by $0.25. The business had revenue of $11.20 billion during the quarter, compared to analyst estimates of $10.77 billion. Bristol-Myers Squibb had a positive return on equity of 13.93% and a negative net margin of 18.53%. During the same quarter in the previous year, the firm earned ($4.40) EPS. Analysts predict that Bristol-Myers Squibb will post 6.74 earnings per share for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Friday, April 4th will be issued a dividend of $0.62 per share. The ex-dividend date is Friday, April 4th. This represents a $2.48 annualized dividend and a dividend yield of 5.18%. Bristol-Myers Squibb's payout ratio is -56.11%.

Insider Activity at Bristol-Myers Squibb

In related news, EVP Samit Hirawat acquired 1,823 shares of the firm's stock in a transaction dated Friday, February 14th. The shares were purchased at an average price 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 represents 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 hyperlink. 0.09% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on BMY. Truist Financial raised their target price on shares of Bristol-Myers Squibb from $62.00 to $65.00 and gave the stock a "buy" rating in a report on Wednesday, January 8th. UBS Group lowered their price objective on shares of Bristol-Myers Squibb from $60.00 to $54.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. Piper Sandler assumed coverage on Bristol-Myers Squibb in a report on Tuesday. They set an "overweight" rating and a $65.00 price target on the stock. William Blair reiterated a "market perform" rating on shares of Bristol-Myers Squibb in a report on Friday. Finally, Wells Fargo & Company upped their target price on Bristol-Myers Squibb from $60.00 to $62.00 and gave the company an "equal weight" rating in a report on Friday, February 7th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, five have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $58.00.

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.