Chiron Investment Management LLC Purchases New Position in Bristol-Myers Squibb (NYSE:BMY)

Chiron Investment Management LLC acquired a new position in shares of Bristol-Myers Squibb (NYSE:BMY) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 84,294 shares of the biopharmaceutical company’s stock, valued at approximately $4,768,000. Bristol-Myers Squibb makes up approximately 1.6% of Chiron Investment Management LLC’s portfolio, making the stock its 27th biggest holding.

Several other institutional investors and hedge funds also recently made changes to their positions in BMY. Truist Financial Corp grew its stake in Bristol-Myers Squibb by 3.9% during the fourth quarter. Truist Financial Corp now owns 1,597,150 shares of the biopharmaceutical company’s stock worth $90,335,000 after buying an additional 60,365 shares during the last quarter. Contravisory Investment Management Inc. acquired a new stake in Bristol-Myers Squibb during the 4th quarter valued at $488,000. Inspire Trust Co. N.A. raised its position in Bristol-Myers Squibb by 39.0% in the 3rd quarter. Inspire Trust Co. N.A. now owns 103,500 shares of the biopharmaceutical company’s stock valued at $5,355,000 after purchasing an additional 29,044 shares during the last quarter. Versant Capital Management Inc boosted its stake in Bristol-Myers Squibb by 14.0% in the fourth quarter. Versant Capital Management Inc now owns 78,690 shares of the biopharmaceutical company’s stock worth $4,451,000 after purchasing an additional 9,692 shares in the last quarter. Finally, Decker Retirement Planning Inc. bought a new stake in shares of Bristol-Myers Squibb during the fourth quarter worth $474,000. Institutional investors and hedge funds own 76.41% of the company’s stock.

Bristol-Myers Squibb Price Performance

BMY opened at $50.68 on Monday. The stock has a market cap of $103.11 billion, a P/E ratio of -11.46, a P/E/G ratio of 2.07 and a beta of 0.41. 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 has a fifty day simple moving average of $57.71 and a 200 day simple moving average of $56.78.

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, topping analysts’ consensus estimates 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%. On average, research analysts expect that Bristol-Myers Squibb will post 6.74 EPS for the current year.

Bristol-Myers Squibb Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Friday, April 4th will be issued a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 4.89%. The ex-dividend date of this dividend is Friday, April 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -56.11%.

Analyst Ratings Changes

A number of equities research analysts have commented on BMY shares. The Goldman Sachs Group reissued a “neutral” rating and set a $55.00 price objective (down previously from $67.00) on shares of Bristol-Myers Squibb in a report on Tuesday, April 8th. Truist Financial increased their price target on shares of Bristol-Myers Squibb from $62.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Citigroup upped their price objective on Bristol-Myers Squibb from $60.00 to $65.00 and gave the stock a “neutral” rating in a report on Tuesday, January 28th. Jefferies Financial Group raised Bristol-Myers Squibb from a “hold” rating to a “buy” rating and lifted their target price for the company from $63.00 to $70.00 in a research note on Monday, December 16th. Finally, Wells Fargo & Company upped their price target on Bristol-Myers Squibb from $60.00 to $62.00 and gave the company an “equal weight” rating in a research note on Friday, February 7th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating, four have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $57.67.

Insider Transactions at Bristol-Myers Squibb

In related news, EVP Samit Hirawat bought 1,823 shares of Bristol-Myers Squibb stock in a transaction that occurred on Friday, February 14th. The stock was purchased at an average cost of $54.84 per share, with a total value of $99,973.32. Following the purchase, the executive vice president now owns 63,932 shares in the company, valued at approximately $3,506,030.88. This trade represents a 2.94 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.09% of the stock is owned by insiders.

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.