Bristol-Myers Squibb (NYSE:BMY) Stock Position Raised by Magnetar Financial LLC

Magnetar Financial LLC lifted its position in Bristol-Myers Squibb (NYSE:BMY) by 540.4% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 216,407 shares of the biopharmaceutical company’s stock after acquiring an additional 182,616 shares during the quarter. Magnetar Financial LLC’s holdings in Bristol-Myers Squibb were worth $12,240,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in BMY. Swedbank AB lifted its position in 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 buying an additional 28,427 shares in the last quarter. United Bank lifted its position in Bristol-Myers Squibb by 2.7% in the 3rd quarter. United Bank now owns 17,322 shares of the biopharmaceutical company’s stock worth $896,000 after buying an additional 456 shares in the last quarter. Thrivent Financial for Lutherans lifted its position in Bristol-Myers Squibb by 4.9% in the 3rd quarter. Thrivent Financial for Lutherans now owns 116,801 shares of the biopharmaceutical company’s stock worth $6,044,000 after buying an additional 5,407 shares in the last quarter. Baron Wealth Management LLC purchased a new stake in Bristol-Myers Squibb in the 3rd quarter worth approximately $210,000. Finally, Pathstone Holdings LLC lifted its position in Bristol-Myers Squibb by 2.2% in the 3rd quarter. Pathstone Holdings LLC now owns 188,950 shares of the biopharmaceutical company’s stock worth $9,776,000 after buying an additional 4,062 shares in the last quarter. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on BMY. Citigroup increased their target price on shares of Bristol-Myers Squibb from $60.00 to $65.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 28th. Jefferies Financial Group upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and raised their price target for the company from $63.00 to $70.00 in a report on Monday, December 16th. Cantor Fitzgerald raised their price target on shares of Bristol-Myers Squibb from $50.00 to $55.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Bank of America restated a “neutral” rating and set a $63.00 price target on shares of Bristol-Myers Squibb in a report on Tuesday, December 10th. Finally, Truist Financial raised their price target 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 analysts have rated the stock with a sell rating, eleven have issued a hold rating, four have given a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $57.86.

Insiders Place Their Bets

In related news, EVP Samit Hirawat purchased 1,823 shares of the firm’s stock in a transaction on Friday, February 14th. The shares were bought at an average cost of $54.84 per share, for a total transaction of $99,973.32. Following the transaction, the executive vice president now directly 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 transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.09% of the company’s stock.

Bristol-Myers Squibb Stock Performance

NYSE:BMY opened at $60.07 on Thursday. Bristol-Myers Squibb has a 1 year low of $39.35 and a 1 year high of $63.33. The firm’s fifty day simple moving average is $58.00 and its 200 day simple moving average is $55.79. 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 firm has a market capitalization of $121.90 billion, a PE ratio of -13.59, a PEG ratio of 2.07 and a beta of 0.43.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share (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%. On average, sell-side analysts anticipate that Bristol-Myers Squibb will post 6.74 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Friday, April 4th will be given a $0.62 dividend. The ex-dividend date is Friday, April 4th. This represents a $2.48 annualized dividend and a yield of 4.13%. Bristol-Myers Squibb’s dividend payout ratio is -56.11%.

Bristol-Myers Squibb Company 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.