Nebula Research & Development LLC Invests $709,000 in Bristol-Myers Squibb (NYSE:BMY)

Nebula Research & Development LLC acquired a new stake in shares of Bristol-Myers Squibb (NYSE:BMY) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 12,527 shares of the biopharmaceutical company’s stock, valued at approximately $709,000.

Several other institutional investors also recently modified their holdings of the business. Norges Bank bought a new position in Bristol-Myers Squibb in the fourth quarter valued at about $1,989,525,000. Wellington Management Group LLP lifted its holdings in Bristol-Myers Squibb by 3,880.0% in the fourth quarter. Wellington Management Group LLP now owns 5,977,505 shares of the biopharmaceutical company’s stock valued at $338,088,000 after acquiring an additional 5,827,317 shares during the period. Raymond James Financial Inc. bought a new position in Bristol-Myers Squibb in the fourth quarter valued at about $257,618,000. Schroder Investment Management Group lifted its holdings in Bristol-Myers Squibb by 49.7% in the fourth quarter. Schroder Investment Management Group now owns 11,413,428 shares of the biopharmaceutical company’s stock valued at $639,837,000 after acquiring an additional 3,787,075 shares during the period. Finally, Adage Capital Partners GP L.L.C. lifted its holdings in Bristol-Myers Squibb by 72.9% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 7,769,227 shares of the biopharmaceutical company’s stock valued at $439,427,000 after acquiring an additional 3,275,061 shares during the period. 76.41% of the stock is owned by hedge funds and other institutional investors.

Bristol-Myers Squibb Stock Performance

Bristol-Myers Squibb stock opened at $48.45 on Tuesday. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.25 and a quick ratio of 1.15. Bristol-Myers Squibb has a 1-year low of $39.35 and a 1-year high of $63.33. The firm has a market capitalization of $98.58 billion, a P/E ratio of -10.96, a price-to-earnings-growth ratio of 2.07 and a beta of 0.41. The company’s 50-day moving average is $56.24 and its 200 day moving average is $56.50.

Bristol-Myers Squibb (NYSE:BMY) last issued its earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.80 EPS for the quarter, topping analysts’ consensus estimates of $1.50 by $0.30. The business had revenue of $11.20 billion for the quarter, compared to analyst estimates of $10.77 billion. Bristol-Myers Squibb had a negative net margin of 18.53% and a positive return on equity of 13.93%. The company’s quarterly revenue was down 5.6% compared to the same quarter last year. During the same period last year, the company posted ($4.40) earnings per share. Research analysts forecast that Bristol-Myers Squibb will post 6.74 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Friday, April 4th will be paid a dividend of $0.62 per share. The ex-dividend date is Friday, April 4th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 5.12%. Bristol-Myers Squibb’s dividend payout ratio is presently 92.88%.

Insider Activity

In other news, EVP Samit Hirawat bought 1,823 shares of the stock in a transaction on Friday, February 14th. The stock was bought at an average cost of $54.84 per share, for a total transaction of $99,973.32. Following the completion of the purchase, the executive vice president now directly owns 63,932 shares in the company, valued at approximately $3,506,030.88. The trade was a 2.94 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.09% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on BMY. Wells Fargo & Company raised their price objective on Bristol-Myers Squibb from $60.00 to $62.00 and gave the stock an “equal weight” rating in a research note on Friday, February 7th. Piper Sandler began coverage on Bristol-Myers Squibb in a research note on Tuesday, April 22nd. They issued an “overweight” rating and a $65.00 price objective on the stock. Truist Financial raised their price objective on Bristol-Myers Squibb from $62.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. UBS Group decreased their price objective on Bristol-Myers Squibb from $60.00 to $54.00 and set a “neutral” rating on the stock in a research note on Friday, April 11th. Finally, The Goldman Sachs Group reissued a “neutral” rating and issued a $55.00 price target (down from $67.00) on shares of Bristol-Myers Squibb in a report on Tuesday, April 8th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, five have issued a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $58.00.

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.