Bristol-Myers Squibb (NYSE:BMY) Shares Purchased by Federated Hermes Inc.

Federated Hermes Inc. grew its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 6.8% during the fourth quarter, Holdings Channel reports. The firm owned 8,933,844 shares of the biopharmaceutical company’s stock after purchasing an additional 571,107 shares during the period. Bristol-Myers Squibb accounts for about 1.1% of Federated Hermes Inc.’s portfolio, making the stock its 8th largest position. Federated Hermes Inc.’s holdings in Bristol-Myers Squibb were worth $505,298,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Fairway Wealth LLC bought a new stake in shares of Bristol-Myers Squibb during the 4th quarter worth about $28,000. Dunhill Financial LLC boosted its position in Bristol-Myers Squibb by 39.8% during the third quarter. Dunhill Financial LLC now owns 664 shares of the biopharmaceutical company’s stock worth $34,000 after purchasing an additional 189 shares during the period. Comprehensive Financial Planning Inc. PA acquired a new position in Bristol-Myers Squibb during the fourth quarter valued at approximately $34,000. Westend Capital Management LLC acquired a new stake in shares of Bristol-Myers Squibb in the fourth quarter worth $38,000. Finally, Tacita Capital Inc bought a new stake in shares of Bristol-Myers Squibb during the 4th quarter worth $39,000. Institutional investors and hedge funds own 76.41% of the company’s stock.

Bristol-Myers Squibb Stock Down 4.3 %

Shares of BMY opened at $55.32 on Friday. Bristol-Myers Squibb has a 12 month low of $39.35 and a 12 month high of $63.33. The stock has a market cap of $112.56 billion, a price-to-earnings ratio of -12.52, a P/E/G ratio of 2.07 and a beta of 0.41. The company has a 50-day moving average price of $58.62 and a two-hundred day moving average price of $56.63. 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 (NYSE:BMY) last announced 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 analysts predict that Bristol-Myers Squibb will post 6.74 EPS for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Friday, April 4th will be issued a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 4.48%. The ex-dividend date is Friday, April 4th. Bristol-Myers Squibb’s dividend payout ratio is currently -56.11%.

Analyst Upgrades and Downgrades

BMY has been the subject of a number of recent analyst reports. Bank of America restated a “neutral” rating and set a $63.00 price target on shares of Bristol-Myers Squibb in a report on Tuesday, December 10th. Jefferies Financial Group upgraded Bristol-Myers Squibb from a “hold” rating to a “buy” rating and increased their target price for the company from $63.00 to $70.00 in a research note on Monday, December 16th. Truist Financial lifted their price target 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 increased their price objective on 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. Finally, Citigroup boosted their target price on shares of Bristol-Myers Squibb from $60.00 to $65.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 28th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, four have assigned a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Bristol-Myers Squibb has an average rating of “Hold” and an average price target of $57.86.

Insider Buying and Selling at Bristol-Myers Squibb

In other news, EVP Samit Hirawat bought 1,823 shares of the business’s stock in a transaction dated Friday, February 14th. The stock was bought at an average price of $54.84 per share, for a total transaction of $99,973.32. Following the completion of the purchase, the executive vice president now owns 63,932 shares of the company’s stock, valued at approximately $3,506,030.88. The trade was 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. Company insiders own 0.09% of the company’s stock.

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.