Longbow Finance SA Boosts Stake in Bristol-Myers Squibb (NYSE:BMY)

Longbow Finance SA raised its stake in Bristol-Myers Squibb (NYSE:BMY) by 5.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 54,908 shares of the biopharmaceutical company’s stock after acquiring an additional 2,600 shares during the quarter. Longbow Finance SA’s holdings in Bristol-Myers Squibb were worth $3,106,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Reston Wealth Management LLC acquired a new stake in Bristol-Myers Squibb during the third quarter worth approximately $25,000. Hollencrest Capital Management lifted its stake in shares of Bristol-Myers Squibb by 61.3% during the 3rd quarter. Hollencrest Capital Management now owns 492 shares of the biopharmaceutical company’s stock worth $25,000 after purchasing an additional 187 shares during the period. Kennebec Savings Bank acquired a new stake in shares of Bristol-Myers Squibb during the third quarter worth $28,000. Darwin Wealth Management LLC purchased a new stake in shares of Bristol-Myers Squibb in the third quarter valued at $29,000. Finally, Valued Wealth Advisors LLC increased its stake in Bristol-Myers Squibb by 1,168.1% in the third quarter. Valued Wealth Advisors LLC now owns 596 shares of the biopharmaceutical company’s stock valued at $31,000 after purchasing an additional 549 shares during the last quarter. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Insider Activity

In related news, EVP Samit Hirawat bought 1,823 shares of the firm’s stock in a transaction on Friday, February 14th. The stock was bought 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 directly owns 63,932 shares in the company, valued at approximately $3,506,030.88. The trade was a 2.94 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.09% of the company’s stock.

Bristol-Myers Squibb Stock Up 3.6 %

NYSE:BMY opened at $57.83 on Tuesday. The stock has a 50-day simple moving average of $57.03 and a 200 day simple moving average of $54.48. Bristol-Myers Squibb has a one year low of $39.35 and a one year high of $61.10. The company has a market capitalization of $117.34 billion, a price-to-earnings ratio of -13.08, a price-to-earnings-growth ratio of 2.07 and a beta of 0.45. 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 issued its quarterly earnings results 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 positive return on equity of 13.93% and a negative net margin of 18.53%. Sell-side analysts predict that Bristol-Myers Squibb will post 6.74 EPS for the current fiscal year.

Bristol-Myers Squibb Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, January 3rd were given a $0.62 dividend. This is an increase from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.29%. The ex-dividend date of this dividend was Friday, January 3rd. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -56.11%.

Analysts Set New Price Targets

Several analysts have commented on the company. Truist Financial lifted their price target on Bristol-Myers Squibb from $62.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Leerink Partnrs raised shares of Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 12th. Cantor Fitzgerald increased their price objective 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. Jefferies Financial Group upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and lifted their target price for the company from $63.00 to $70.00 in a report on Monday, December 16th. Finally, Wells Fargo & Company increased 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. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, four have issued a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $57.86.

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.