Raiffeisen Bank International AG Makes New $20.61 Million Investment in Bristol-Myers Squibb (NYSE:BMY)

Raiffeisen Bank International AG acquired a new position in Bristol-Myers Squibb (NYSE:BMY) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 367,240 shares of the biopharmaceutical company’s stock, valued at approximately $20,614,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in BMY. Fairway Wealth LLC bought a new stake in shares of Bristol-Myers Squibb during the 4th quarter valued at $28,000. Transce3nd LLC purchased a new stake in Bristol-Myers Squibb in the fourth quarter worth about $28,000. Comprehensive Financial Planning Inc. PA bought a new position in shares of Bristol-Myers Squibb in the fourth quarter worth about $34,000. Westend Capital Management LLC purchased a new position in shares of Bristol-Myers Squibb during the 4th quarter valued at about $38,000. Finally, Tacita Capital Inc bought a new position in shares of Bristol-Myers Squibb during the 4th quarter valued at approximately $39,000. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Piper Sandler assumed coverage on shares of Bristol-Myers Squibb in a research note on Tuesday, April 22nd. They set an “overweight” rating and a $65.00 target price on the stock. Argus raised shares of Bristol-Myers Squibb to a “hold” rating in a research note on Friday, April 25th. The Goldman Sachs Group restated a “neutral” rating and set a $55.00 target price (down previously from $67.00) on shares of Bristol-Myers Squibb in a research note on Tuesday, April 8th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $55.00 price target on shares of Bristol-Myers Squibb in a research note on Tuesday, April 22nd. Finally, William Blair restated a “market perform” rating on shares of Bristol-Myers Squibb in a research report on Friday, April 25th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, five have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, Bristol-Myers Squibb has an average rating of “Hold” and a consensus price target of $58.00.

Bristol-Myers Squibb Price Performance

Shares of BMY stock opened at $44.06 on Thursday. The stock has a 50 day moving average price of $53.69 and a 200 day moving average price of $56.06. Bristol-Myers Squibb has a 52-week low of $39.35 and a 52-week high of $63.33. The company has a debt-to-equity ratio of 2.90, a quick ratio of 1.15 and a current ratio of 1.25. The firm has a market capitalization of $89.67 billion, a P/E ratio of -9.97, a P/E/G ratio of 2.07 and a beta of 0.39.

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

Bristol-Myers Squibb Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Friday, April 4th were given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 5.63%. The ex-dividend date of this dividend was Friday, April 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently 92.88%.

Insider Activity

In other news, EVP Samit Hirawat acquired 4,250 shares of Bristol-Myers Squibb stock in a transaction on Friday, April 25th. The shares were bought at an average cost of $47.58 per share, for a total transaction of $202,215.00. Following the acquisition, the executive vice president now directly owns 83,513 shares of the company’s stock, valued at $3,973,548.54. This trade represents a 5.36% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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.