Bristol-Myers Squibb (NYSE:BMY) Shares Bought by Geode Capital Management LLC

Geode Capital Management LLC lifted its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 2.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 44,391,247 shares of the biopharmaceutical company’s stock after acquiring an additional 1,187,231 shares during the period. Geode Capital Management LLC’s holdings in Bristol-Myers Squibb were worth $2,505,967,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. United Bank lifted its position in shares of Bristol-Myers Squibb by 2.7% in the 3rd quarter. United Bank now owns 17,322 shares of the biopharmaceutical company’s stock worth $896,000 after buying an additional 456 shares during the last quarter. Public Sector Pension Investment Board grew its position in shares of Bristol-Myers Squibb by 13.3% during the 3rd quarter. Public Sector Pension Investment Board now owns 88,350 shares of the biopharmaceutical company’s stock valued at $4,571,000 after buying an additional 10,400 shares during the last quarter. PDT Partners LLC acquired a new stake in Bristol-Myers Squibb during the third quarter worth about $1,016,000. Erste Asset Management GmbH bought a new position in Bristol-Myers Squibb in the third quarter worth about $8,828,000. Finally, Kestra Investment Management LLC acquired a new position in Bristol-Myers Squibb in the third quarter valued at approximately $206,000. 76.41% of the stock is currently owned by institutional investors.

Bristol-Myers Squibb Price Performance

Shares of Bristol-Myers Squibb stock opened at $61.05 on Tuesday. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $63.33. The company has a current ratio of 1.25, a quick ratio of 1.15 and a debt-to-equity ratio of 2.90. The stock has a market cap of $124.22 billion, a PE ratio of -13.81, a price-to-earnings-growth ratio of 2.07 and a beta of 0.43. The company’s 50-day moving average price is $58.64 and its two-hundred day moving average price is $56.44.

Bristol-Myers Squibb (NYSE:BMY) last released its earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 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 13.93%. As a group, sell-side analysts anticipate that Bristol-Myers Squibb will post 6.74 EPS for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Friday, April 4th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.06%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -56.11%.

Analyst Ratings Changes

A number of analysts have recently weighed in on BMY shares. Citigroup increased their price target on Bristol-Myers Squibb from $60.00 to $65.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 28th. Truist Financial increased their target price on Bristol-Myers Squibb from $62.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Wells Fargo & Company boosted their price target on shares of Bristol-Myers Squibb from $60.00 to $62.00 and gave the company an “equal weight” rating in a report on Friday, February 7th. Cantor Fitzgerald increased 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. Finally, Jefferies Financial Group raised shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and boosted their target price for the company from $63.00 to $70.00 in a research note on Monday, December 16th. Two equities research analysts have rated the stock with a sell rating, eleven have given 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, Bristol-Myers Squibb currently has an average rating of “Hold” and an average target price of $57.86.

Insider Transactions at Bristol-Myers Squibb

In related news, EVP Samit Hirawat bought 1,823 shares of Bristol-Myers Squibb stock in a transaction dated Friday, February 14th. The stock was acquired at an average cost of $54.84 per share, with a total value of $99,973.32. Following the completion of the acquisition, the executive vice president now directly owns 63,932 shares in the company, valued at approximately $3,506,030.88. This trade represents a 2.94 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.09% of the company’s stock.

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.