Payden & Rygel Takes Position in Bristol-Myers Squibb (NYSE:BMY)

Payden & Rygel bought a new position in Bristol-Myers Squibb (NYSE:BMY) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 247,800 shares of the biopharmaceutical company’s stock, valued at approximately $14,016,000.

A number of other institutional investors have also recently made changes to their positions in the company. Fairway Wealth LLC purchased a new stake in Bristol-Myers Squibb during the 4th quarter valued at $28,000. Dunhill Financial LLC increased its holdings in Bristol-Myers Squibb by 39.8% in the 3rd quarter. Dunhill Financial LLC now owns 664 shares of the biopharmaceutical company’s stock worth $34,000 after buying an additional 189 shares in the last quarter. Comprehensive Financial Planning Inc. PA purchased a new position in Bristol-Myers Squibb in the 4th quarter worth about $34,000. Westend Capital Management LLC bought a new position in Bristol-Myers Squibb during the 4th quarter valued at about $38,000. Finally, Tacita Capital Inc purchased a new stake in shares of Bristol-Myers Squibb during the 4th quarter valued at about $39,000. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Stock Down 4.3 %

BMY opened at $55.32 on Friday. Bristol-Myers Squibb has a fifty-two week low of $39.35 and a fifty-two week high of $63.33. 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 has a market cap of $112.56 billion, a price-to-earnings ratio of -12.52, a price-to-earnings-growth ratio of 2.07 and a beta of 0.43. The firm’s fifty day moving average is $58.62 and its 200 day moving average is $56.58.

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, beating 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%. On average, sell-side analysts forecast that Bristol-Myers Squibb will post 6.74 earnings per share for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Friday, April 4th will be paid a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 4.48%. The ex-dividend date is Friday, April 4th. Bristol-Myers Squibb’s payout ratio is currently -56.11%.

Insider Buying and Selling at Bristol-Myers Squibb

In other news, EVP Samit Hirawat bought 1,823 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The shares were bought at an average cost of $54.84 per share, for a total transaction of $99,973.32. Following the completion of the transaction, the executive vice president now owns 63,932 shares of the company’s stock, valued at approximately $3,506,030.88. This represents a 2.94 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.09% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on BMY shares. Bank of America restated a “neutral” rating and set a $63.00 price objective on shares of Bristol-Myers Squibb in a research report on Tuesday, December 10th. Truist Financial increased their price target on Bristol-Myers Squibb from $62.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Citigroup raised their price target on Bristol-Myers Squibb from $60.00 to $65.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 28th. Jefferies Financial Group upgraded Bristol-Myers Squibb from a “hold” rating to a “buy” rating and upped their price objective for the company from $63.00 to $70.00 in a research report on Monday, December 16th. Finally, Wells Fargo & Company raised their target price on Bristol-Myers Squibb from $60.00 to $62.00 and gave the stock an “equal weight” rating in a research report on Friday, February 7th. Two analysts have rated the stock with a sell rating, ten have given a hold rating, four have assigned a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $57.86.

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.