Fagan Associates Inc. Increases Position in Bristol-Myers Squibb (NYSE:BMY)

Fagan Associates Inc. grew its position in Bristol-Myers Squibb (NYSE:BMY) by 8.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,227 shares of the biopharmaceutical company’s stock after buying an additional 500 shares during the period. Fagan Associates Inc.’s holdings in Bristol-Myers Squibb were worth $352,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Truist Financial Corp grew its stake in shares of Bristol-Myers Squibb by 3.9% in the 4th quarter. Truist Financial Corp now owns 1,597,150 shares of the biopharmaceutical company’s stock valued at $90,335,000 after buying an additional 60,365 shares during the period. Contravisory Investment Management Inc. purchased a new stake in shares of Bristol-Myers Squibb in the 4th quarter valued at approximately $488,000. Inspire Trust Co. N.A. grew its stake in shares of Bristol-Myers Squibb by 39.0% in the 3rd quarter. Inspire Trust Co. N.A. now owns 103,500 shares of the biopharmaceutical company’s stock valued at $5,355,000 after buying an additional 29,044 shares during the period. Patriot Financial Group Insurance Agency LLC grew its stake in shares of Bristol-Myers Squibb by 3.8% in the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 5,595 shares of the biopharmaceutical company’s stock valued at $289,000 after buying an additional 206 shares during the period. Finally, Sheaff Brock Investment Advisors LLC grew its stake in shares of Bristol-Myers Squibb by 34.3% in the 3rd quarter. Sheaff Brock Investment Advisors LLC now owns 44,546 shares of the biopharmaceutical company’s stock valued at $2,305,000 after buying an additional 11,387 shares during the period. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Price Performance

Shares of BMY opened at $54.45 on Wednesday. Bristol-Myers Squibb has a twelve month low of $39.35 and a twelve month high of $61.10. The firm’s fifty day simple moving average is $57.04 and its 200-day simple moving average is $54.23. 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 announced its quarterly earnings data on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share for the quarter, beating 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%. As a group, equities research analysts expect that Bristol-Myers Squibb will post 6.74 EPS for the current year.

Bristol-Myers Squibb Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, January 3rd were given a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.56%. This is an increase from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend was Friday, January 3rd. Bristol-Myers Squibb’s dividend payout ratio (DPR) is -56.11%.

Analysts Set New Price Targets

BMY has been the topic of several recent analyst reports. Cantor Fitzgerald upped their price objective on shares of Bristol-Myers Squibb from $50.00 to $55.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Daiwa Capital Markets upgraded shares of Bristol-Myers Squibb from a “neutral” rating to an “outperform” rating in a report on Wednesday, November 13th. Morgan Stanley upped their price objective on shares of Bristol-Myers Squibb from $36.00 to $39.00 and gave the stock an “underweight” rating in a report on Tuesday, November 12th. Bank of America restated a “neutral” rating and issued a $63.00 price objective on shares of Bristol-Myers Squibb in a report on Tuesday, December 10th. Finally, Citigroup upped 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. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, four have assigned a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, Bristol-Myers Squibb presently has an average rating of “Hold” and an average price target of $57.86.

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.