Bridgewater Associates LP Boosts Stake in Bristol-Myers Squibb (NYSE:BMY)

Bridgewater Associates LP raised its holdings in Bristol-Myers Squibb (NYSE:BMY) by 237.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,061,076 shares of the biopharmaceutical company’s stock after acquiring an additional 1,450,718 shares during the period. Bridgewater Associates LP owned approximately 0.10% of Bristol-Myers Squibb worth $116,574,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. Fairway Wealth LLC purchased a new position in Bristol-Myers Squibb during the fourth quarter worth approximately $28,000. Comprehensive Financial Planning Inc. PA acquired a new stake in shares of Bristol-Myers Squibb in the 4th quarter worth $34,000. Westend Capital Management LLC acquired a new position in shares of Bristol-Myers Squibb during the 4th quarter valued at about $38,000. Tacita Capital Inc acquired a new position in shares of Bristol-Myers Squibb during the 4th quarter valued at about $39,000. Finally, M Holdings Securities Inc. acquired a new stake in Bristol-Myers Squibb during the fourth quarter worth about $39,000. 76.41% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Samit Hirawat bought 1,823 shares of the stock in a transaction dated Friday, February 14th. The stock was acquired 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 in the company, valued at approximately $3,506,030.88. This represents a 2.94 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.09% of the stock is owned by company insiders.

Bristol-Myers Squibb Stock Up 1.2 %

Shares of NYSE:BMY opened at $51.33 on Tuesday. Bristol-Myers Squibb has a fifty-two week low of $39.35 and a fifty-two week high of $63.33. The firm’s 50 day moving average price is $57.54 and its 200 day moving average price is $56.78. The company has a quick ratio of 1.15, a current ratio of 1.25 and a debt-to-equity ratio of 2.90. The stock has a market cap of $104.44 billion, a price-to-earnings ratio of -11.61, a price-to-earnings-growth ratio of 2.07 and a beta of 0.41.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings data 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%. As a group, equities research analysts predict that Bristol-Myers Squibb will post 6.74 earnings per share for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders 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 4.83%. The ex-dividend date is Friday, April 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -56.11%.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Cantor Fitzgerald lifted their price target on shares of Bristol-Myers Squibb from $50.00 to $55.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. Jefferies Financial Group raised Bristol-Myers Squibb from a “hold” rating to a “buy” rating and upped their price target for the company from $63.00 to $70.00 in a research note on Monday, December 16th. Truist Financial boosted their price objective 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. UBS Group lowered their target price on shares of Bristol-Myers Squibb from $60.00 to $54.00 and set a “neutral” rating for the company in a research note on Friday. Finally, Wells Fargo & Company upped their price objective on shares of Bristol-Myers Squibb from $60.00 to $62.00 and gave the stock an “equal weight” rating in a report on Friday, February 7th. 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 given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $57.67.

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.