DnB Asset Management AS Acquires 227,521 Shares of Bristol-Myers Squibb (NYSE:BMY)

DnB Asset Management AS increased its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 47.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 709,131 shares of the biopharmaceutical company’s stock after acquiring an additional 227,521 shares during the period. DnB Asset Management AS’s holdings in Bristol-Myers Squibb were worth $40,108,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Fairway Wealth LLC bought a new stake in shares of Bristol-Myers Squibb in the 4th quarter valued at approximately $28,000. Dunhill Financial LLC grew its position in Bristol-Myers Squibb by 39.8% in the third quarter. Dunhill Financial LLC now owns 664 shares of the biopharmaceutical company’s stock valued at $34,000 after acquiring an additional 189 shares during the period. Comprehensive Financial Planning Inc. PA acquired a new position in Bristol-Myers Squibb during the fourth quarter worth $34,000. Westend Capital Management LLC bought a new position in shares of Bristol-Myers Squibb during the fourth quarter valued at $38,000. Finally, Tacita Capital Inc acquired a new stake in shares of Bristol-Myers Squibb in the 4th quarter valued at $39,000. Institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Stock Performance

Bristol-Myers Squibb stock opened at $58.90 on Friday. Bristol-Myers Squibb has a 1 year low of $39.35 and a 1 year high of $63.33. The company’s 50-day moving average is $58.47 and its two-hundred day moving average is $56.17. The company has a current ratio of 1.25, a quick ratio of 1.15 and a debt-to-equity ratio of 2.90. The company has a market cap of $119.52 billion, a PE ratio of -13.33, a PEG ratio of 2.07 and a beta of 0.43.

Bristol-Myers Squibb (NYSE:BMY) last released its earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 EPS for the quarter, topping 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 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Friday, April 4th will be issued a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 4.21%. The ex-dividend date of this dividend is Friday, April 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently -56.11%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Bank of America reiterated a “neutral” rating and set a $63.00 target price on shares of Bristol-Myers Squibb in a research report on Tuesday, December 10th. Citigroup raised their price objective on shares of Bristol-Myers Squibb from $60.00 to $65.00 and gave the stock a “neutral” rating in a report on Tuesday, January 28th. Jefferies Financial Group raised Bristol-Myers Squibb from a “hold” rating to a “buy” rating and boosted their target price for the stock from $63.00 to $70.00 in a report on Monday, December 16th. Wells Fargo & Company raised their price target on Bristol-Myers Squibb from $60.00 to $62.00 and gave the company an “equal weight” rating in a report on Friday, February 7th. Finally, Truist Financial boosted their price objective on Bristol-Myers Squibb from $62.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating, four have issued a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, Bristol-Myers Squibb has an average rating of “Hold” and a consensus price target of $57.86.

Insider Transactions at Bristol-Myers Squibb

In other news, EVP Samit Hirawat acquired 1,823 shares of Bristol-Myers Squibb stock in a transaction that occurred on Friday, February 14th. The shares were acquired at an average price of $54.84 per share, with a total value of $99,973.32. Following the purchase, the executive vice president now directly owns 63,932 shares of the company’s stock, valued at $3,506,030.88. The trade was a 2.94 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate 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.