First Manhattan CO. LLC. Grows Stock Holdings in Bristol-Myers Squibb (NYSE:BMY)

First Manhattan CO. LLC. boosted its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 7.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 20,330 shares of the biopharmaceutical company’s stock after purchasing an additional 1,340 shares during the quarter. First Manhattan CO. LLC.’s holdings in Bristol-Myers Squibb were worth $1,150,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Truist Financial Corp increased 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 valued at $90,335,000 after acquiring an additional 60,365 shares during the last quarter. Contravisory Investment Management Inc. bought a new position in Bristol-Myers Squibb during the fourth quarter valued at $488,000. Decker Retirement Planning Inc. bought a new position in Bristol-Myers Squibb during the fourth quarter valued at $474,000. Corundum Group Inc. increased its position in Bristol-Myers Squibb by 67.8% during the fourth quarter. Corundum Group Inc. now owns 43,534 shares of the biopharmaceutical company’s stock valued at $2,462,000 after acquiring an additional 17,596 shares during the last quarter. Finally, High Net Worth Advisory Group LLC increased its position in Bristol-Myers Squibb by 42.2% during the fourth quarter. High Net Worth Advisory Group LLC now owns 16,974 shares of the biopharmaceutical company’s stock valued at $960,000 after acquiring an additional 5,040 shares during the last quarter. Institutional investors own 76.41% of the company’s stock.

Analysts Set New Price Targets

BMY has been the topic of a number of research analyst reports. Cantor Fitzgerald restated a “neutral” rating and issued a $55.00 price target on shares of Bristol-Myers Squibb in a report on Tuesday, April 22nd. Argus upgraded shares of Bristol-Myers Squibb to a “hold” rating in a report on Friday, April 25th. Wells Fargo & Company upped 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. The Goldman Sachs Group restated a “neutral” rating and issued a $55.00 price target (down from $67.00) on shares of Bristol-Myers Squibb in a report on Tuesday, April 8th. Finally, Citigroup upped their price target on shares of Bristol-Myers Squibb from $60.00 to $65.00 and gave the stock a “neutral” rating in a report on Tuesday, January 28th. Two 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 stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $58.00.

Bristol-Myers Squibb Stock Down 1.1%

NYSE:BMY opened at $46.38 on Monday. Bristol-Myers Squibb has a fifty-two week low of $39.35 and a fifty-two week high of $63.33. The stock has a market capitalization of $94.39 billion, a P/E ratio of -10.49, a P/E/G ratio of 2.07 and a beta of 0.39. 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 company’s 50-day simple moving average is $54.54 and its 200-day simple moving average is $56.23.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.80 earnings per share for the quarter, beating analysts’ consensus estimates of $1.50 by $0.30. Bristol-Myers Squibb had a negative net margin of 18.53% and a positive return on equity of 13.93%. The business had revenue of $11.20 billion for the quarter, compared to analysts’ expectations of $10.77 billion. During the same period last year, the business earned ($4.40) EPS. The company’s revenue was down 5.6% compared to the same quarter last year. On average, equities analysts anticipate 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 was paid on Thursday, May 1st. Stockholders of record on Friday, April 4th were issued a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 5.35%. The ex-dividend date was Friday, April 4th. Bristol-Myers Squibb’s dividend payout ratio is currently 92.88%.

Insider Activity at Bristol-Myers Squibb

In related news, EVP Samit Hirawat acquired 4,250 shares of the firm’s stock in a transaction that occurred on Friday, April 25th. The stock was purchased at an average cost of $47.58 per share, with a total value of $202,215.00. Following the transaction, the executive vice president now directly owns 83,513 shares of the company’s stock, valued at $3,973,548.54. This trade represents a 5.36% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through 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.