BI Asset Management Fondsmaeglerselskab A S Has $15.14 Million Stake in Bristol-Myers Squibb (NYSE:BMY)

BI Asset Management Fondsmaeglerselskab A S grew its stake in Bristol-Myers Squibb (NYSE:BMY) by 156.0% during the fourth quarter, HoldingsChannel reports. The firm owned 267,653 shares of the biopharmaceutical company’s stock after buying an additional 163,121 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Bristol-Myers Squibb were worth $15,138,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Morse Asset Management Inc grew its position in Bristol-Myers Squibb by 25.0% during the 3rd quarter. Morse Asset Management Inc now owns 10,000 shares of the biopharmaceutical company’s stock worth $517,000 after acquiring an additional 2,000 shares during the last quarter. Tudor Financial Inc. bought a new stake in shares of Bristol-Myers Squibb during the third quarter worth about $250,000. Pine Valley Investments Ltd Liability Co increased its stake in shares of Bristol-Myers Squibb by 1.3% in the third quarter. Pine Valley Investments Ltd Liability Co now owns 44,897 shares of the biopharmaceutical company’s stock valued at $2,323,000 after buying an additional 575 shares during the period. World Investment Advisors LLC raised its holdings in Bristol-Myers Squibb by 18.7% in the 3rd quarter. World Investment Advisors LLC now owns 44,106 shares of the biopharmaceutical company’s stock valued at $2,282,000 after buying an additional 6,954 shares during the last quarter. Finally, Arvest Bank Trust Division acquired a new stake in Bristol-Myers Squibb during the 3rd quarter worth approximately $1,724,000. 76.41% of the stock is owned by institutional investors.

Bristol-Myers Squibb Stock Down 0.3 %

BMY stock opened at $49.24 on Friday. The company has a debt-to-equity ratio of 2.90, a quick ratio of 1.15 and a current ratio of 1.25. Bristol-Myers Squibb has a fifty-two week low of $39.35 and a fifty-two week high of $63.33. The stock’s 50 day simple moving average is $56.98 and its 200 day simple moving average is $56.66. The company has a market cap of $100.18 billion, a P/E ratio of -11.14, a price-to-earnings-growth ratio of 2.07 and a beta of 0.41.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share (EPS) for the quarter, beating 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%. On average, research analysts expect that Bristol-Myers Squibb will post 6.74 earnings per share for the current fiscal 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 $0.62 dividend. The ex-dividend date of this dividend is Friday, April 4th. This represents a $2.48 annualized dividend and a yield of 5.04%. Bristol-Myers Squibb’s payout ratio is -56.11%.

Insider Buying and Selling at Bristol-Myers Squibb

In related news, EVP Samit Hirawat bought 1,823 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The shares were bought at an average price of $54.84 per share, with a total value of $99,973.32. Following the completion of the transaction, the executive vice president now directly owns 63,932 shares in the company, valued at approximately $3,506,030.88. This represents a 2.94 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on BMY. Truist Financial upped 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 report on Wednesday, January 8th. Citigroup raised their target price 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. UBS Group reduced their price target on Bristol-Myers Squibb from $60.00 to $54.00 and set a “neutral” rating on the stock in a research report on Friday, April 11th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $55.00 price objective (down from $67.00) on shares of Bristol-Myers Squibb in a research note on Tuesday, April 8th. Finally, Wells Fargo & Company increased their target price 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 investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, four have given a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $57.67.

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.