Korea Investment CORP Raises Stock Holdings in Bristol-Myers Squibb (NYSE:BMY)

Korea Investment CORP lifted its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 0.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 1,998,632 shares of the biopharmaceutical company’s stock after buying an additional 9,567 shares during the quarter. Korea Investment CORP’s holdings in Bristol-Myers Squibb were worth $113,043,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. United Bank raised its stake in Bristol-Myers Squibb by 2.7% during the third quarter. United Bank now owns 17,322 shares of the biopharmaceutical company’s stock valued at $896,000 after buying an additional 456 shares in the last quarter. Centaurus Financial Inc. raised its holdings in shares of Bristol-Myers Squibb by 21.3% during the third quarter. Centaurus Financial Inc. now owns 10,919 shares of the biopharmaceutical company’s stock worth $565,000 after purchasing an additional 1,920 shares during the period. Harvest Fund Management Co. Ltd bought a new position in shares of Bristol-Myers Squibb in the 3rd quarter worth about $133,000. Loomis Sayles & Co. L P boosted its holdings in shares of Bristol-Myers Squibb by 29.1% in the 3rd quarter. Loomis Sayles & Co. L P now owns 277,599 shares of the biopharmaceutical company’s stock valued at $14,363,000 after buying an additional 62,602 shares during the period. Finally, The Manufacturers Life Insurance Company grew its position in shares of Bristol-Myers Squibb by 1.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,711,074 shares of the biopharmaceutical company’s stock valued at $88,531,000 after buying an additional 29,480 shares during the last quarter. Institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Trading Down 0.0 %

Shares of NYSE BMY opened at $59.18 on Thursday. The company has a quick ratio of 1.15, a current ratio of 1.25 and a debt-to-equity ratio of 2.90. Bristol-Myers Squibb has a 12 month low of $39.35 and a 12 month high of $63.33. The company has a market cap of $120.08 billion, a price-to-earnings ratio of -13.39, a P/E/G ratio of 2.07 and a beta of 0.43. The business has a fifty day simple moving average of $58.42 and a 200-day simple moving average of $56.15.

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

Bristol-Myers Squibb Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Investors 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 yield of 4.19%. The ex-dividend date is Friday, April 4th. Bristol-Myers Squibb’s payout ratio is -56.11%.

Insider Transactions at Bristol-Myers Squibb

In related news, EVP Samit Hirawat acquired 1,823 shares of the company’s stock in a transaction on Friday, February 14th. The shares were purchased at an average price of $54.84 per share, for a total transaction of $99,973.32. Following the purchase, the executive vice president now owns 63,932 shares in the company, valued at $3,506,030.88. This represents a 2.94 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.09% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have commented on BMY. Truist Financial lifted their target price on Bristol-Myers Squibb from $62.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Jefferies Financial Group upgraded Bristol-Myers Squibb from a “hold” rating to a “buy” rating and upped their price objective for the stock from $63.00 to $70.00 in a research note on Monday, December 16th. Cantor Fitzgerald raised their target price on 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 restated a “neutral” rating and set a $63.00 price target on shares of Bristol-Myers Squibb in a research report on Tuesday, December 10th. Finally, Wells Fargo & Company lifted 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 report on Friday, February 7th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, four have issued a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $57.86.

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.