BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Increases Stake in Bristol-Myers Squibb (NYSE:BMY)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 14.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 388,228 shares of the biopharmaceutical company’s stock after acquiring an additional 49,996 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Bristol-Myers Squibb were worth $21,958,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in BMY. Ameritas Advisory Services LLC boosted its position in Bristol-Myers Squibb by 9.4% during the 4th quarter. Ameritas Advisory Services LLC now owns 15,807 shares of the biopharmaceutical company’s stock valued at $894,000 after acquiring an additional 1,357 shares in the last quarter. Diversify Wealth Management LLC boosted its position in Bristol-Myers Squibb by 10.0% during the fourth quarter. Diversify Wealth Management LLC now owns 14,123 shares of the biopharmaceutical company’s stock valued at $788,000 after purchasing an additional 1,286 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its stake in Bristol-Myers Squibb by 4.0% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 8,687 shares of the biopharmaceutical company’s stock valued at $491,000 after purchasing an additional 332 shares during the last quarter. LaFleur & Godfrey LLC raised its holdings in Bristol-Myers Squibb by 3.5% in the fourth quarter. LaFleur & Godfrey LLC now owns 43,551 shares of the biopharmaceutical company’s stock worth $2,463,000 after purchasing an additional 1,487 shares in the last quarter. Finally, Pure Financial Advisors LLC lifted its position in shares of Bristol-Myers Squibb by 48.2% during the fourth quarter. Pure Financial Advisors LLC now owns 7,808 shares of the biopharmaceutical company’s stock valued at $442,000 after buying an additional 2,538 shares during the last quarter. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Insider Activity at Bristol-Myers Squibb

In other Bristol-Myers Squibb news, EVP Samit Hirawat acquired 4,250 shares of the company’s stock in a transaction on Friday, April 25th. The shares were bought at an average cost of $47.58 per share, with a total value of $202,215.00. Following the completion of the acquisition, the executive vice president now owns 83,513 shares in the company, valued at approximately $3,973,548.54. This trade represents a 5.36% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.07% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. William Blair reaffirmed a “market perform” rating on shares of Bristol-Myers Squibb in a research report on Friday, April 25th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $55.00 target price on shares of Bristol-Myers Squibb in a research report on Tuesday, April 22nd. The Goldman Sachs Group reissued a “neutral” rating and issued a $55.00 price target (down previously from $67.00) on shares of Bristol-Myers Squibb in a report on Tuesday, April 8th. Argus upgraded shares of Bristol-Myers Squibb to a “hold” rating in a report on Friday, April 25th. Finally, Wells Fargo & Company lifted their target price on shares of Bristol-Myers Squibb from $60.00 to $62.00 and gave the stock an “equal weight” rating in a research note on Friday, February 7th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, five have given a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $58.00.

Bristol-Myers Squibb Price Performance

Shares of BMY opened at $46.97 on Thursday. The business’s 50-day moving average is $52.31 and its two-hundred day moving average is $55.83. The company has a market capitalization of $95.58 billion, a P/E ratio of -10.63, a P/E/G ratio of 2.07 and a beta of 0.39. 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.

Bristol-Myers Squibb (NYSE:BMY) last posted its earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.80 EPS for the quarter, topping the consensus estimate of $1.50 by $0.30. Bristol-Myers Squibb had a positive return on equity of 13.93% and a negative net margin of 18.53%. The firm had revenue of $11.20 billion for the quarter, compared to analyst estimates of $10.77 billion. During the same period last year, the company earned ($4.40) earnings per share. Bristol-Myers Squibb’s revenue for the quarter was down 5.6% compared to the same quarter last year. Research analysts predict that Bristol-Myers Squibb will post 6.74 earnings per share for the current year.

Bristol-Myers Squibb Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Friday, April 4th were issued a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 5.28%. The ex-dividend date of this dividend was Friday, April 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently 92.88%.

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.