Barr E S & Co. Takes $214,000 Position in Bristol-Myers Squibb (NYSE:BMY)

Barr E S & Co. acquired a new position in Bristol-Myers Squibb (NYSE:BMY) in the 4th quarter, HoldingsChannel reports. The fund acquired 3,780 shares of the biopharmaceutical company’s stock, valued at approximately $214,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Truist Financial Corp boosted its position in Bristol-Myers Squibb by 3.9% during the fourth quarter. Truist Financial Corp now owns 1,597,150 shares of the biopharmaceutical company’s stock worth $90,335,000 after purchasing an additional 60,365 shares during the period. Contravisory Investment Management Inc. purchased a new stake in shares of Bristol-Myers Squibb during the 4th quarter valued at approximately $488,000. Inspire Trust Co. N.A. boosted its holdings in Bristol-Myers Squibb by 39.0% in the 3rd quarter. Inspire Trust Co. N.A. now owns 103,500 shares of the biopharmaceutical company’s stock worth $5,355,000 after buying an additional 29,044 shares during the period. Versant Capital Management Inc grew its stake in Bristol-Myers Squibb by 14.0% in the 4th quarter. Versant Capital Management Inc now owns 78,690 shares of the biopharmaceutical company’s stock valued at $4,451,000 after buying an additional 9,692 shares in the last quarter. Finally, Decker Retirement Planning Inc. purchased a new position in Bristol-Myers Squibb in the 4th quarter valued at approximately $474,000. 76.41% of the stock is currently owned by institutional investors.

Bristol-Myers Squibb Price Performance

BMY opened at $50.68 on Friday. 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 $103.11 billion, a P/E ratio of -11.46, a PEG ratio of 2.07 and a beta of 0.41. The stock has a 50-day moving average price of $57.71 and a 200-day moving average price of $56.73. Bristol-Myers Squibb has a 12-month low of $39.35 and a 12-month high of $63.33.

Bristol-Myers Squibb (NYSE:BMY) last issued its earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.47 by $0.20. Bristol-Myers Squibb had a positive return on equity of 13.93% and a negative net margin of 18.53%. Equities analysts predict that Bristol-Myers Squibb will post 6.74 earnings per share 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 given a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 4.89%. The ex-dividend date of this dividend is Friday, April 4th. Bristol-Myers Squibb’s payout ratio is presently -56.11%.

Analyst Ratings Changes

A number of research firms have recently commented on BMY. Cantor Fitzgerald raised their price target on Bristol-Myers Squibb from $50.00 to $55.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Jefferies Financial Group upgraded Bristol-Myers Squibb from a “hold” rating to a “buy” rating and raised their target price for the stock from $63.00 to $70.00 in a research note on Monday, December 16th. Truist Financial lifted their target price on Bristol-Myers Squibb from $62.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Wells Fargo & Company increased their price target on shares of Bristol-Myers Squibb from $60.00 to $62.00 and gave the stock an “equal weight” rating in a report on Friday, February 7th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and set 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 research analysts have rated the stock with a sell rating, eleven have issued a hold rating, four have issued a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $57.67.

Insiders Place Their Bets

In related news, EVP Samit Hirawat acquired 1,823 shares of Bristol-Myers Squibb 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 represents a 2.94 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.09% of the stock is currently owned by 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.