Fred Alger Management LLC Grows Position in Bristol-Myers Squibb (NYSE:BMY)

Fred Alger Management LLC lifted its holdings in Bristol-Myers Squibb (NYSE:BMY) by 26.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 129,764 shares of the biopharmaceutical company’s stock after acquiring an additional 27,471 shares during the quarter. Fred Alger Management LLC’s holdings in Bristol-Myers Squibb were worth $7,339,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Family Management Corp acquired a new position in Bristol-Myers Squibb during the fourth quarter worth $3,295,000. Clark Capital Management Group Inc. grew its holdings in shares of Bristol-Myers Squibb by 12.6% during the fourth quarter. Clark Capital Management Group Inc. now owns 943,058 shares of the biopharmaceutical company’s stock worth $53,339,000 after purchasing an additional 105,340 shares during the last quarter. Deutsche Bank AG grew its holdings in shares of Bristol-Myers Squibb by 10.4% during the fourth quarter. Deutsche Bank AG now owns 9,566,461 shares of the biopharmaceutical company’s stock worth $541,079,000 after buying an additional 904,613 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its position in Bristol-Myers Squibb by 701.2% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 12,470,106 shares of the biopharmaceutical company’s stock valued at $705,309,000 after purchasing an additional 10,913,708 shares during the period. Finally, EP Wealth Advisors LLC lifted its position in shares of Bristol-Myers Squibb by 4.7% during the 4th quarter. EP Wealth Advisors LLC now owns 51,589 shares of the biopharmaceutical company’s stock valued at $2,918,000 after acquiring an additional 2,337 shares during the period. Institutional investors and hedge funds own 76.41% of the company’s stock.

Insider Activity at Bristol-Myers Squibb

In related news, EVP Samit Hirawat purchased 1,823 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The shares were acquired 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 approximately $3,506,030.88. This represents a 2.94 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.09% of the stock is currently owned by company insiders.

Bristol-Myers Squibb Stock Down 1.8 %

Shares of BMY opened at $46.77 on Friday. The business’s 50 day simple moving average is $54.80 and its 200-day simple moving average is $56.23. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.25 and a quick ratio of 1.15. Bristol-Myers Squibb has a one year low of $39.35 and a one year high of $63.33. The company has a market capitalization of $95.18 billion, a P/E ratio of -10.58, a PEG ratio of 2.07 and a beta of 0.39.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings data 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 firm had revenue of $11.20 billion during the quarter, compared to analysts’ expectations of $10.77 billion. During the same quarter in the previous year, the company earned ($4.40) earnings per share. The business’s revenue for the quarter was down 5.6% on a year-over-year basis. As a group, sell-side analysts predict that Bristol-Myers Squibb will post 6.74 EPS for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Friday, April 4th were paid a dividend of $0.62 per share. The ex-dividend date of this dividend was Friday, April 4th. This represents a $2.48 annualized dividend and a dividend yield of 5.30%. Bristol-Myers Squibb’s dividend payout ratio is presently 92.88%.

Analyst Upgrades and Downgrades

BMY has been the subject of a number of recent research reports. Piper Sandler began coverage on shares of Bristol-Myers Squibb in a report on Tuesday, April 22nd. They set an “overweight” rating and a $65.00 price target for the company. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $55.00 target price on shares of Bristol-Myers Squibb in a research report on Tuesday, April 22nd. Citigroup upped their target price on Bristol-Myers Squibb from $60.00 to $65.00 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. William Blair reiterated a “market perform” rating on shares of Bristol-Myers Squibb in a research report on Friday, April 25th. Finally, 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. Two analysts have rated the stock with a sell rating, thirteen have issued 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 a consensus rating of “Hold” and a consensus target price of $58.00.

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.