Bristol-Myers Squibb (NYSE:BMY) Stake Raised by Lipe & Dalton

Lipe & Dalton boosted its holdings in Bristol-Myers Squibb (NYSE:BMY) by 0.4% during the 4th quarter, Holdings Channel reports. The fund owned 56,769 shares of the biopharmaceutical company’s stock after acquiring an additional 208 shares during the quarter. Bristol-Myers Squibb comprises 1.7% of Lipe & Dalton’s portfolio, making the stock its 20th largest holding. Lipe & Dalton’s holdings in Bristol-Myers Squibb were worth $3,211,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in BMY. AMF Tjanstepension AB grew its position in Bristol-Myers Squibb by 6.9% in the 3rd quarter. AMF Tjanstepension AB now owns 610,181 shares of the biopharmaceutical company’s stock valued at $31,618,000 after buying an additional 39,419 shares in the last quarter. Swedbank AB lifted its stake in shares of Bristol-Myers Squibb by 0.9% in the 3rd quarter. Swedbank AB now owns 3,139,552 shares of the biopharmaceutical company’s stock worth $162,440,000 after acquiring an additional 28,427 shares during the period. Greenleaf Trust increased its stake in shares of Bristol-Myers Squibb by 54.2% during the third quarter. Greenleaf Trust now owns 25,601 shares of the biopharmaceutical company’s stock valued at $1,325,000 after acquiring an additional 9,001 shares during the period. McAdam LLC bought a new stake in Bristol-Myers Squibb during the third quarter worth approximately $270,000. Finally, Assenagon Asset Management S.A. lifted its position in Bristol-Myers Squibb by 12.7% in the third quarter. Assenagon Asset Management S.A. now owns 64,191 shares of the biopharmaceutical company’s stock worth $3,321,000 after purchasing an additional 7,245 shares during the period. Institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Stock Performance

Shares of NYSE BMY opened at $55.85 on Friday. Bristol-Myers Squibb has a one year low of $39.35 and a one year high of $61.10. The business’s 50-day moving average price is $56.99 and its two-hundred day moving average price is $54.30. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.25 and a quick ratio of 1.15. The company has a market capitalization of $113.33 billion, a P/E ratio of -12.63, a price-to-earnings-growth ratio of 2.04 and a beta of 0.45.

Bristol-Myers Squibb (NYSE:BMY) last posted its earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 EPS for the quarter, topping the consensus estimate 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%. Analysts anticipate that Bristol-Myers Squibb will post 6.74 earnings per share for the current fiscal year.

Bristol-Myers Squibb Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, January 3rd were issued a dividend of $0.62 per share. This is an increase from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. This represents a $2.48 annualized dividend and a dividend yield of 4.44%. The ex-dividend date was Friday, January 3rd. Bristol-Myers Squibb’s dividend payout ratio is currently -56.11%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Jefferies Financial Group raised Bristol-Myers Squibb from a “hold” rating to a “buy” rating and raised their target price for the company from $63.00 to $70.00 in a research note on Monday, December 16th. Daiwa America raised shares of Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 13th. Cantor Fitzgerald lifted their price target on shares of Bristol-Myers Squibb from $50.00 to $55.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Citigroup increased their price objective 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. Finally, Leerink Partnrs upgraded Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 12th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, four have given a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat, Bristol-Myers Squibb has an average rating of “Hold” and a consensus target price of $57.86.

Insider Buying and Selling

In other Bristol-Myers Squibb news, EVP Samit Hirawat acquired 1,823 shares of the company’s stock in a transaction dated Friday, February 14th. The shares were acquired at an average cost of $54.84 per share, for a total transaction of $99,973.32. Following the completion of the purchase, the executive vice president now owns 63,932 shares of the company’s stock, valued at approximately $3,506,030.88. This trade represents a 2.94 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.09% of the company’s stock.

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.