Bristol-Myers Squibb (NYSE:BMY) Stake Boosted by Point72 Asia Singapore Pte. Ltd.

Point72 Asia Singapore Pte. Ltd. raised its holdings in shares of Bristol-Myers Squibb (NYSE:BMYFree Report) by 236.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 81,262 shares of the biopharmaceutical company’s stock after purchasing an additional 57,086 shares during the period. Bristol-Myers Squibb comprises about 1.2% of Point72 Asia Singapore Pte. Ltd.’s portfolio, making the stock its 13th largest holding. Point72 Asia Singapore Pte. Ltd.’s holdings in Bristol-Myers Squibb were worth $4,596,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Fairway Wealth LLC acquired a new position in Bristol-Myers Squibb in the fourth quarter valued at approximately $28,000. Transce3nd LLC acquired a new position in Bristol-Myers Squibb during the 4th quarter valued at approximately $28,000. Comprehensive Financial Planning Inc. PA acquired a new position in Bristol-Myers Squibb during the 4th quarter valued at approximately $34,000. Westend Capital Management LLC bought a new position in Bristol-Myers Squibb during the 4th quarter worth $38,000. Finally, Tacita Capital Inc bought a new stake in Bristol-Myers Squibb in the fourth quarter valued at $39,000. 76.41% of the stock is owned by institutional investors and hedge funds.

Bristol-Myers Squibb Price Performance

BMY stock opened at $44.06 on Thursday. Bristol-Myers Squibb has a one year low of $39.35 and a one year high of $63.33. The firm has a 50-day moving average of $53.69 and a two-hundred day moving average of $56.06. The firm has a market capitalization of $89.67 billion, a PE ratio of -9.97, a P/E/G ratio of 2.07 and a beta of 0.39. The company has a current ratio of 1.25, a quick ratio of 1.15 and a debt-to-equity ratio of 2.90.

Bristol-Myers Squibb (NYSE:BMYGet Free Report) last released its quarterly earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.80 earnings per share (EPS) 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 analyst estimates of $10.77 billion. During the same quarter in the previous year, the business earned ($4.40) earnings per share. The firm’s revenue was down 5.6% compared to the same quarter last year. On average, analysts forecast that Bristol-Myers Squibb will post 6.74 earnings per share for the current year.

Bristol-Myers Squibb Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Friday, April 4th were given a dividend of $0.62 per share. The ex-dividend date of this dividend was Friday, April 4th. This represents a $2.48 dividend on an annualized basis and a yield of 5.63%. Bristol-Myers Squibb’s payout ratio is presently 92.88%.

Insiders Place Their Bets

In related news, EVP Samit Hirawat acquired 1,823 shares of the company’s stock in a transaction on Friday, February 14th. The shares were purchased at an average price of $54.84 per share, for a total transaction of $99,973.32. Following the purchase, the executive vice president now owns 63,932 shares in the company, valued at $3,506,030.88. This represents a 2.94% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.09% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. UBS Group lowered their price target on shares of Bristol-Myers Squibb from $60.00 to $54.00 and set a “neutral” rating for the company in a research report on Friday, April 11th. Argus upgraded shares of Bristol-Myers Squibb to a “hold” rating in a research note on Friday, April 25th. Jefferies Financial Group cut their price target on Bristol-Myers Squibb from $70.00 to $68.00 and set a “buy” rating on the stock in a report on Wednesday, April 23rd. Wells Fargo & Company increased their price objective on 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 target price (down previously from $67.00) on shares of Bristol-Myers Squibb in a research note on Tuesday, April 8th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, five have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $58.00.

Read Our Latest Stock Analysis on Bristol-Myers Squibb

Bristol-Myers Squibb Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Bristol-Myers Squibb (NYSE:BMY)

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