Tri Locum Partners LP Invests $20.10 Million in Bristol-Myers Squibb (NYSE:BMY)

Tri Locum Partners LP bought a new stake in shares of Bristol-Myers Squibb (NYSE:BMY - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 355,366 shares of the biopharmaceutical company's stock, valued at approximately $20,100,000. Bristol-Myers Squibb comprises about 4.2% of Tri Locum Partners LP's holdings, making the stock its 10th biggest position.

Other hedge funds have also recently modified their holdings of the company. Fairway Wealth LLC bought a new position in shares of Bristol-Myers Squibb during the fourth quarter valued at approximately $28,000. Transce3nd LLC bought a new position in shares of Bristol-Myers Squibb during the fourth quarter valued at approximately $28,000. Comprehensive Financial Planning Inc. PA bought a new position in shares of Bristol-Myers Squibb during the fourth quarter valued at approximately $34,000. Westend Capital Management LLC bought a new position in shares of Bristol-Myers Squibb during the fourth quarter valued at approximately $38,000. Finally, Tacita Capital Inc bought a new position 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.

Bristol-Myers Squibb Stock Performance

BMY traded up $0.75 during midday trading on Tuesday, hitting $49.21. 19,790,282 shares of the company were exchanged, compared to its average volume of 12,964,894. The company's 50 day simple moving average is $56.11 and its 200 day simple moving average is $56.45. The firm has a market capitalization of $100.13 billion, a price-to-earnings ratio of -11.13, a price-to-earnings-growth ratio of 2.07 and a beta of 0.41. 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 announced its quarterly earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.80 earnings per share for the quarter, topping the consensus estimate of $1.50 by $0.30. The company had revenue of $11.20 billion for the quarter, compared to the consensus estimate of $10.77 billion. Bristol-Myers Squibb had a positive return on equity of 13.93% and a negative net margin of 18.53%. The firm's revenue for the quarter was down 5.6% compared to the same quarter last year. During the same period last year, the firm earned ($4.40) EPS. As a group, sell-side analysts predict that Bristol-Myers Squibb will post 6.74 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

The firm 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. The ex-dividend date of this dividend is Friday, April 4th. This represents a $2.48 dividend on an annualized basis and a yield of 5.04%. Bristol-Myers Squibb's dividend payout ratio is currently 92.88%.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Wells Fargo & Company increased their price objective on Bristol-Myers Squibb from $60.00 to $62.00 and gave the stock an "equal weight" rating in a research note on Friday, February 7th. UBS Group dropped their price objective on Bristol-Myers Squibb from $60.00 to $54.00 and set a "neutral" rating on the stock in a research note on Friday, April 11th. Cantor Fitzgerald reissued a "neutral" rating and issued a $55.00 price objective on shares of Bristol-Myers Squibb in a research note on Tuesday, April 22nd. Truist Financial increased their price objective on Bristol-Myers Squibb from $62.00 to $65.00 and gave the stock a "buy" rating in a research note on Wednesday, January 8th. Finally, The Goldman Sachs Group reissued a "neutral" rating and issued a $55.00 price objective (down previously from $67.00) on shares of Bristol-Myers Squibb in a research note on Tuesday, April 8th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, five have assigned a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Bristol-Myers Squibb currently has a consensus rating of "Hold" and a consensus price target of $58.00.

Insider Buying and Selling at Bristol-Myers Squibb

In other Bristol-Myers Squibb news, EVP Samit Hirawat bought 1,823 shares of Bristol-Myers Squibb stock in a transaction dated Friday, February 14th. The stock was acquired at an average cost of $54.84 per share, with a total value of $99,973.32. Following the purchase, the executive vice president now directly owns 63,932 shares in the company, valued at $3,506,030.88. This represents a 2.94 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 0.09% of the stock is owned by corporate 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.