Voya Investment Management LLC Grows Stake in Bristol-Myers Squibb (NYSE:BMY)

Voya Investment Management LLC raised its position in Bristol-Myers Squibb (NYSE:BMY - Free Report) by 96.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,925,677 shares of the biopharmaceutical company's stock after buying an additional 946,356 shares during the quarter. Voya Investment Management LLC owned 0.09% of Bristol-Myers Squibb worth $108,916,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on BMY. William Blair reissued a "market perform" rating on shares of Bristol-Myers Squibb in a research report on Friday. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $55.00 price target (down previously from $67.00) on shares of Bristol-Myers Squibb in a research report on Tuesday, April 8th. Piper Sandler began coverage on shares of Bristol-Myers Squibb in a report on Tuesday, April 22nd. They issued an "overweight" rating and a $65.00 target price for the company. Cantor Fitzgerald restated a "neutral" rating and set a $55.00 price target on shares of Bristol-Myers Squibb in a research report on Tuesday, April 22nd. Finally, Truist Financial boosted their target price on Bristol-Myers Squibb from $62.00 to $65.00 and gave the company a "buy" rating in a research note on Wednesday, January 8th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, five have assigned a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $58.00.

Bristol-Myers Squibb Price Performance

Shares of BMY traded up $0.55 during midday trading on Monday, reaching $48.45. The stock had a trading volume of 18,572,631 shares, compared to its average volume of 12,950,880. The company has a market capitalization of $98.58 billion, a price-to-earnings ratio of -10.96, 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 12-month low of $39.35 and a 12-month high of $63.33. The company's 50-day moving average is $56.37 and its 200 day moving average is $56.53.

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last posted 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 business had revenue of $11.20 billion during the quarter, compared to the consensus estimate of $10.77 billion. Bristol-Myers Squibb had a negative net margin of 18.53% and a positive return on equity of 13.93%. The firm's revenue for the quarter was down 5.6% on a year-over-year basis. During the same period in the previous year, the firm posted ($4.40) earnings per share. On average, equities analysts predict that Bristol-Myers Squibb will post 6.74 EPS for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The firm 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. The ex-dividend date of this dividend is Friday, April 4th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 5.12%. Bristol-Myers Squibb's dividend payout ratio is presently 92.88%.

Insider Buying and Selling

In related news, EVP Samit Hirawat purchased 1,823 shares of Bristol-Myers Squibb stock in a transaction that occurred on Friday, February 14th. The shares were bought at an average price of $54.84 per share, for a total transaction of $99,973.32. Following the completion of the transaction, 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 transaction was disclosed in a document filed with the SEC, which is available at 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.