Enhancing Capital LLC Invests $2.11 Million in Bristol-Myers Squibb (NYSE:BMY)

Enhancing Capital LLC purchased a new position in shares of Bristol-Myers Squibb (NYSE:BMY) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 37,300 shares of the biopharmaceutical company’s stock, valued at approximately $2,110,000. Bristol-Myers Squibb comprises 1.7% of Enhancing Capital LLC’s investment portfolio, making the stock its 19th biggest position.

Several other hedge funds also recently modified their holdings of the business. Swedbank AB grew its stake 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 buying an additional 28,427 shares during the last quarter. Pettinga Financial Advisors LLC grew its stake in Bristol-Myers Squibb by 8.7% in the 3rd quarter. Pettinga Financial Advisors LLC now owns 11,108 shares of the biopharmaceutical company’s stock valued at $575,000 after buying an additional 886 shares during the last quarter. United Bank grew its stake in Bristol-Myers Squibb by 2.7% in the 3rd quarter. United Bank now owns 17,322 shares of the biopharmaceutical company’s stock valued at $896,000 after buying an additional 456 shares during the last quarter. Natixis Advisors LLC grew its stake in Bristol-Myers Squibb by 34.9% in the 3rd quarter. Natixis Advisors LLC now owns 446,364 shares of the biopharmaceutical company’s stock valued at $23,095,000 after buying an additional 115,361 shares during the last quarter. Finally, Thrivent Financial for Lutherans grew its stake 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 valued at $6,044,000 after buying an additional 5,407 shares during the last quarter. Institutional investors and hedge funds own 76.41% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Samit Hirawat bought 1,823 shares of the company’s stock in a transaction on Friday, February 14th. The stock was bought at an average cost of $54.84 per share, with a total value of $99,973.32. Following the completion of the purchase, the executive vice president now 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 acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 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. Citigroup raised their target price on shares of Bristol-Myers Squibb from $60.00 to $65.00 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. Jefferies Financial Group upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $63.00 to $70.00 in a report on Monday, December 16th. Bank of America restated a “neutral” rating and set a $63.00 price objective on shares of Bristol-Myers Squibb in a report on Tuesday, December 10th. Truist Financial boosted their price objective on shares of Bristol-Myers Squibb from $62.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Finally, Cantor Fitzgerald boosted their price objective on shares of Bristol-Myers Squibb from $50.00 to $55.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, four have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $57.86.

Bristol-Myers Squibb Price Performance

NYSE:BMY opened at $60.07 on Tuesday. The firm has a market cap of $121.89 billion, a PE ratio of -13.59, a price-to-earnings-growth ratio of 2.07 and a beta of 0.43. Bristol-Myers Squibb has a 12 month low of $39.35 and a 12 month high of $63.33. 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 company’s 50-day moving average price is $57.87 and its two-hundred day moving average price is $55.69.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 EPS for the quarter, beating 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 13.93%. On average, equities analysts anticipate that Bristol-Myers Squibb will post 6.74 EPS for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

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