NEOS Investment Management LLC Acquires 29,869 Shares of Bristol-Myers Squibb (NYSE:BMY)

NEOS Investment Management LLC boosted its holdings in Bristol-Myers Squibb (NYSE:BMY) by 31.7% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 124,182 shares of the biopharmaceutical company’s stock after acquiring an additional 29,869 shares during the quarter. NEOS Investment Management LLC’s holdings in Bristol-Myers Squibb were worth $7,024,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. United Bank raised its stake in Bristol-Myers Squibb by 2.7% in the third quarter. United Bank now owns 17,322 shares of the biopharmaceutical company’s stock valued at $896,000 after purchasing an additional 456 shares in the last quarter. Harvest Fund Management Co. Ltd bought a new position in shares of Bristol-Myers Squibb in the 3rd quarter worth $133,000. The Manufacturers Life Insurance Company raised its position in shares of Bristol-Myers Squibb by 1.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,711,074 shares of the biopharmaceutical company’s stock valued at $88,531,000 after buying an additional 29,480 shares in the last quarter. Townsquare Capital LLC lifted its holdings in shares of Bristol-Myers Squibb by 20.4% during the 3rd quarter. Townsquare Capital LLC now owns 149,694 shares of the biopharmaceutical company’s stock worth $7,745,000 after acquiring an additional 25,324 shares during the last quarter. Finally, Bridgewater Associates LP grew its position in Bristol-Myers Squibb by 10.0% in the third quarter. Bridgewater Associates LP now owns 610,358 shares of the biopharmaceutical company’s stock worth $31,580,000 after acquiring an additional 55,364 shares in the last quarter. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on BMY shares. Wells Fargo & Company lifted their price target on 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. Jefferies Financial Group upgraded 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 research report on Monday, December 16th. Bank of America reiterated a “neutral” rating and set a $63.00 price target on shares of Bristol-Myers Squibb in a research report on Tuesday, December 10th. Citigroup boosted 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. Finally, Truist Financial increased their target price on shares of Bristol-Myers Squibb from $62.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, four have given a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $57.86.

Insiders Place Their Bets

In other news, EVP Samit Hirawat bought 1,823 shares of Bristol-Myers Squibb 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 acquisition, the executive vice president now owns 63,932 shares of the company’s stock, valued at approximately $3,506,030.88. The trade was a 2.94 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.09% of the stock is currently owned by company insiders.

Bristol-Myers Squibb Trading Down 0.5 %

BMY opened at $58.90 on Friday. Bristol-Myers Squibb has a one year low of $39.35 and a one year high of $63.33. 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 business has a 50 day simple moving average of $58.47 and a two-hundred day simple moving average of $56.17. The firm has a market capitalization of $119.52 billion, a price-to-earnings ratio of -13.33, a PEG ratio of 2.07 and a beta of 0.43.

Bristol-Myers Squibb (NYSE:BMY) last announced its earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 EPS for the quarter, beating analysts’ consensus estimates of $1.47 by $0.20. Bristol-Myers Squibb had a positive return on equity of 13.93% and a negative net margin of 18.53%. Analysts predict that Bristol-Myers Squibb will post 6.74 EPS for the current year.

Bristol-Myers Squibb Announces Dividend

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

About Bristol-Myers Squibb

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.