AlphaCentric Advisors LLC Makes New $1.11 Million Investment in Bristol-Myers Squibb (NYSE:BMY)

AlphaCentric Advisors LLC bought a new position in Bristol-Myers Squibb (NYSE:BMY) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 19,649 shares of the biopharmaceutical company’s stock, valued at approximately $1,111,000. Bristol-Myers Squibb makes up about 1.1% of AlphaCentric Advisors LLC’s portfolio, making the stock its 24th largest holding.

Other hedge funds have also added to or reduced their stakes in the company. Contravisory Investment Management Inc. bought a new position in Bristol-Myers Squibb in the 4th quarter worth about $488,000. Inspire Trust Co. N.A. grew its stake in 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 worth $5,355,000 after acquiring an additional 29,044 shares in the last quarter. Patriot Financial Group Insurance Agency LLC grew its stake in 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 worth $289,000 after acquiring an additional 206 shares in the last quarter. Sheaff Brock Investment Advisors LLC boosted its stake in shares of Bristol-Myers Squibb by 34.3% during the third quarter. Sheaff Brock Investment Advisors LLC now owns 44,546 shares of the biopharmaceutical company’s stock valued at $2,305,000 after purchasing an additional 11,387 shares in the last quarter. Finally, iA Global Asset Management Inc. boosted its stake in shares of Bristol-Myers Squibb by 81.3% during the third quarter. iA Global Asset Management Inc. now owns 76,775 shares of the biopharmaceutical company’s stock valued at $3,972,000 after purchasing an additional 34,418 shares in the last quarter. 76.41% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently issued reports on BMY. Jefferies Financial Group upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and increased their price objective for the company from $63.00 to $70.00 in a research note on Monday, December 16th. Cantor Fitzgerald increased their price objective on shares of Bristol-Myers Squibb from $50.00 to $55.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Bank of America reiterated a “neutral” rating and set a $63.00 price objective on shares of Bristol-Myers Squibb in a research note on Tuesday, December 10th. Wells Fargo & Company increased their price objective on shares of Bristol-Myers Squibb from $60.00 to $62.00 and gave the company an “equal weight” rating in a research note on Friday, February 7th. Finally, Wolfe Research initiated coverage on shares of Bristol-Myers Squibb in a research note on Friday, November 15th. They set a “peer perform” rating on the stock. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, four have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, Bristol-Myers Squibb currently has a consensus rating of “Hold” and a consensus price target of $57.86.

Bristol-Myers Squibb Trading Down 3.8 %

NYSE BMY opened at $53.85 on Monday. The company has a fifty day simple moving average of $57.21 and a two-hundred day simple moving average of $54.10. The stock has a market cap of $109.22 billion, a P/E ratio of -12.18, a P/E/G ratio of 2.13 and a beta of 0.45. Bristol-Myers Squibb has a 12-month low of $39.35 and a 12-month high of $61.10. The company has a current ratio of 1.24, a quick ratio of 1.09 and a debt-to-equity ratio of 2.83.

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 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 13.81%. On average, analysts forecast that Bristol-Myers Squibb will post 6.75 earnings per share for the current year.

Bristol-Myers Squibb Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, January 3rd were paid a $0.62 dividend. The ex-dividend date was Friday, January 3rd. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.61%. This is a positive change from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. Bristol-Myers Squibb’s dividend payout ratio is presently -56.11%.

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.