Russell Investments Group Ltd. Purchases 714,693 Shares of Bristol-Myers Squibb (NYSE:BMY)

Russell Investments Group Ltd. raised its stake in Bristol-Myers Squibb (NYSE:BMY) by 33.3% during the 4th quarter, Holdings Channel reports. The fund owned 2,860,651 shares of the biopharmaceutical company’s stock after acquiring an additional 714,693 shares during the period. Russell Investments Group Ltd.’s holdings in Bristol-Myers Squibb were worth $161,694,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of BMY. Norges Bank bought a new stake in shares of Bristol-Myers Squibb during the fourth quarter worth about $1,989,525,000. Wellington Management Group LLP boosted its position in shares of Bristol-Myers Squibb by 3,880.0% during the 4th quarter. Wellington Management Group LLP now owns 5,977,505 shares of the biopharmaceutical company’s stock valued at $338,088,000 after purchasing an additional 5,827,317 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Bristol-Myers Squibb during the 4th quarter valued at $257,618,000. Schroder Investment Management Group boosted its position in shares of Bristol-Myers Squibb by 49.7% during the 4th quarter. Schroder Investment Management Group now owns 11,413,428 shares of the biopharmaceutical company’s stock worth $639,837,000 after purchasing an additional 3,787,075 shares in the last quarter. Finally, National Bank of Canada FI increased its holdings in shares of Bristol-Myers Squibb by 194.7% during the third quarter. National Bank of Canada FI now owns 2,506,741 shares of the biopharmaceutical company’s stock valued at $129,698,000 after acquiring an additional 1,656,141 shares in the last quarter. Institutional investors own 76.41% of the company’s stock.

Insider Activity at Bristol-Myers Squibb

In other news, EVP Samit Hirawat purchased 1,823 shares of the company’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 directly 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 acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.09% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

BMY has been the subject of a number of recent research reports. Jefferies Financial Group raised Bristol-Myers Squibb from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $63.00 to $70.00 in a report on Monday, December 16th. Cantor Fitzgerald increased their target price on shares of Bristol-Myers Squibb from $50.00 to $55.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. Bank of America reissued a “neutral” rating and issued a $63.00 price objective on shares of Bristol-Myers Squibb in a report on Tuesday, December 10th. Truist Financial upped their price target on shares of Bristol-Myers Squibb from $62.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Finally, Citigroup lifted their price objective on shares of Bristol-Myers Squibb from $60.00 to $65.00 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, four have given a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $57.86.

Bristol-Myers Squibb Trading Down 4.3 %

Shares of BMY stock opened at $55.32 on Friday. Bristol-Myers Squibb has a 12-month low of $39.35 and a 12-month high of $63.33. The firm has a market cap of $112.56 billion, a P/E ratio of -12.52, a price-to-earnings-growth ratio of 2.07 and a beta of 0.43. The business has a 50-day moving average price of $58.62 and a two-hundred day moving average price of $56.58. The company has a quick ratio of 1.15, a current ratio of 1.25 and a debt-to-equity ratio of 2.90.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 EPS for the quarter, beating analysts’ consensus estimates 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 anticipate that Bristol-Myers Squibb will post 6.74 EPS for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

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

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.