Zacks Investment Management Buys 245,982 Shares of Bristol-Myers Squibb (NYSE:BMY)

Zacks Investment Management lifted its stake in shares of Bristol-Myers Squibb (NYSE:BMY - Free Report) by 4,936.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 250,965 shares of the biopharmaceutical company's stock after acquiring an additional 245,982 shares during the period. Zacks Investment Management's holdings in Bristol-Myers Squibb were worth $14,195,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. NewEdge Advisors LLC lifted its holdings in shares of Bristol-Myers Squibb by 5.0% in the fourth quarter. NewEdge Advisors LLC now owns 168,112 shares of the biopharmaceutical company's stock valued at $9,508,000 after purchasing an additional 8,071 shares in the last quarter. Resurgent Financial Advisors LLC lifted its stake in Bristol-Myers Squibb by 21.2% in the 4th quarter. Resurgent Financial Advisors LLC now owns 5,314 shares of the biopharmaceutical company's stock valued at $301,000 after acquiring an additional 931 shares in the last quarter. Stonehaven Wealth & Tax Solutions LLC acquired a new position in Bristol-Myers Squibb during the 4th quarter worth approximately $273,000. Stenger Family Office LLC acquired a new position in Bristol-Myers Squibb during the 4th quarter worth approximately $2,432,000. Finally, NFJ Investment Group LLC bought a new position in shares of Bristol-Myers Squibb during the 4th quarter worth approximately $12,561,000. 76.41% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Samit Hirawat purchased 1,823 shares of the business's stock in a transaction dated 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 purchase, the executive vice president now owns 63,932 shares of the company's stock, valued at $3,506,030.88. This trade represents a 2.94 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Insiders own 0.09% of the company's stock.

Bristol-Myers Squibb Price Performance

Shares of BMY stock traded up $0.85 during trading on Tuesday, hitting $49.79. The company had a trading volume of 2,756,656 shares, compared to its average volume of 12,938,348. The firm has a market capitalization of $101.31 billion, a P/E ratio of -11.26, a price-to-earnings-growth ratio of 2.07 and a beta of 0.41. The company has a debt-to-equity ratio of 2.90, a quick ratio of 1.15 and a current ratio of 1.25. The stock's 50-day moving average price is $56.83 and its 200 day moving average price is $56.64. Bristol-Myers Squibb has a one year low of $39.35 and a one year high of $63.33.

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last issued its earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 EPS for the quarter, beating the consensus estimate 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%. Equities analysts expect that Bristol-Myers Squibb will post 6.74 EPS for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Friday, April 4th will be given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 4.98%. The ex-dividend date is Friday, April 4th. Bristol-Myers Squibb's dividend payout ratio is -56.11%.

Analyst Upgrades and Downgrades

BMY has been the topic of a number of research reports. Piper Sandler started coverage on shares of Bristol-Myers Squibb in a research report on Tuesday. They issued an "overweight" rating on the stock. Truist Financial increased their price objective on shares of Bristol-Myers Squibb from $62.00 to $65.00 and gave the stock a "buy" rating in a research note on Wednesday, January 8th. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $55.00 target price (down previously from $67.00) on shares of Bristol-Myers Squibb in a research report on Tuesday, April 8th. Wells Fargo & Company increased their price objective 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. Finally, Cantor Fitzgerald restated a "neutral" rating and set a $55.00 target price on shares of Bristol-Myers Squibb in a report on Tuesday. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, five have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Bristol-Myers Squibb currently has an average rating of "Hold" and a consensus target price of $57.67.

Bristol-Myers Squibb Company 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.