BankPlus Trust Department Acquires New Shares in Bristol-Myers Squibb (NYSE:BMY)

BankPlus Trust Department bought a new position in Bristol-Myers Squibb (NYSE:BMY) during the 4th quarter, Holdings Channel.com reports. The institutional investor bought 27,356 shares of the biopharmaceutical company’s stock, valued at approximately $1,547,000.

A number of other hedge funds also recently added to or reduced their stakes in BMY. AMF Tjanstepension AB grew its position in Bristol-Myers Squibb by 6.9% in the 3rd quarter. AMF Tjanstepension AB now owns 610,181 shares of the biopharmaceutical company’s stock worth $31,618,000 after purchasing an additional 39,419 shares during the last quarter. Swedbank AB increased 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 valued at $162,440,000 after acquiring an additional 28,427 shares during the period. Assenagon Asset Management S.A. raised its stake in Bristol-Myers Squibb by 12.7% during the 3rd quarter. Assenagon Asset Management S.A. now owns 64,191 shares of the biopharmaceutical company’s stock valued at $3,321,000 after acquiring an additional 7,245 shares in the last quarter. Mediolanum International Funds Ltd boosted its position in Bristol-Myers Squibb by 0.5% during the 3rd quarter. Mediolanum International Funds Ltd now owns 88,527 shares of the biopharmaceutical company’s stock worth $4,499,000 after acquiring an additional 484 shares during the period. Finally, Pettinga Financial Advisors LLC grew its stake in shares of Bristol-Myers Squibb by 8.7% in the third quarter. Pettinga Financial Advisors LLC now owns 11,108 shares of the biopharmaceutical company’s stock worth $575,000 after purchasing an additional 886 shares in the last quarter. 76.41% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Bristol-Myers Squibb

In other Bristol-Myers Squibb news, EVP Samit Hirawat purchased 1,823 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The stock was purchased at an average price of $54.84 per share, with a total value of $99,973.32. Following the completion of 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 document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.09% of the company’s stock.

Analyst Upgrades and Downgrades

BMY has been the topic of a number of research analyst reports. Leerink Partners upgraded shares of Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $55.00 to $73.00 in a research note on Tuesday, November 12th. Daiwa America raised Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 13th. Wolfe Research started coverage on shares of Bristol-Myers Squibb in a report on Friday, November 15th. They issued a “peer perform” rating for the company. Citigroup lifted their price objective on shares of Bristol-Myers Squibb from $60.00 to $65.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 28th. Finally, Bank of America restated a “neutral” rating and set a $63.00 target price on shares of Bristol-Myers Squibb in a report on Tuesday, December 10th. 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 issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $57.86.

Bristol-Myers Squibb Stock Performance

NYSE:BMY opened at $55.85 on Monday. The company has a debt-to-equity ratio of 2.90, a quick ratio of 1.15 and a current ratio of 1.25. The firm’s 50-day moving average is $56.99 and its 200-day moving average is $54.41. Bristol-Myers Squibb has a 52-week low of $39.35 and a 52-week high of $61.10. The company has a market cap of $113.33 billion, a price-to-earnings ratio of -12.63, a PEG ratio of 2.07 and a beta of 0.45.

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

Bristol-Myers Squibb Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, January 3rd were paid a dividend of $0.62 per share. The ex-dividend date of this dividend was Friday, January 3rd. This represents a $2.48 dividend on an annualized basis and a yield of 4.44%. This is an increase from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. Bristol-Myers Squibb’s payout ratio is currently -56.11%.

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.