3,188,000 Shares in Bristol-Myers Squibb (NYSE:BMY) Acquired by Farallon Capital Management LLC

Farallon Capital Management LLC bought a new stake in Bristol-Myers Squibb (NYSE:BMY) in the 4th quarter, HoldingsChannel.com reports. The firm bought 3,188,000 shares of the biopharmaceutical company’s stock, valued at approximately $180,313,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BMY. Truist Financial Corp boosted its position in shares of Bristol-Myers Squibb by 3.9% in the 4th quarter. Truist Financial Corp now owns 1,597,150 shares of the biopharmaceutical company’s stock valued at $90,335,000 after purchasing an additional 60,365 shares during the period. Contravisory Investment Management Inc. purchased a new position in shares of Bristol-Myers Squibb during the fourth quarter worth approximately $488,000. Decker Retirement Planning Inc. acquired a new stake in Bristol-Myers Squibb during the 4th quarter worth $474,000. Corundum Group Inc. lifted its position in Bristol-Myers Squibb by 67.8% during the 4th quarter. Corundum Group Inc. now owns 43,534 shares of the biopharmaceutical company’s stock worth $2,462,000 after acquiring an additional 17,596 shares during the period. Finally, High Net Worth Advisory Group LLC raised its position in Bristol-Myers Squibb by 42.2% during the 4th quarter. High Net Worth Advisory Group LLC now owns 16,974 shares of the biopharmaceutical company’s stock worth $960,000 after buying an additional 5,040 shares during the last quarter. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Bristol-Myers Squibb

In other Bristol-Myers Squibb news, EVP Samit Hirawat purchased 4,250 shares of the business’s stock in a transaction that occurred on Friday, April 25th. The shares were purchased at an average price of $47.58 per share, for a total transaction of $202,215.00. Following the completion of the acquisition, the executive vice president now owns 83,513 shares of the company’s stock, valued at approximately $3,973,548.54. This represents a 5.36 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.09% of the company’s stock.

Bristol-Myers Squibb Stock Down 1.8 %

BMY stock opened at $46.77 on Friday. Bristol-Myers Squibb has a one year low of $39.35 and a one year high of $63.33. The stock has a market capitalization of $95.18 billion, a P/E ratio of -10.58, a PEG ratio of 2.07 and a beta of 0.39. The company has a 50 day moving average price of $54.80 and a two-hundred day moving average price of $56.23. 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 (NYSE:BMY) last issued its quarterly earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.50 by $0.30. The firm had revenue of $11.20 billion for the quarter, compared to analyst estimates 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 firm’s quarterly revenue was down 5.6% on a year-over-year basis. During the same period last year, the company earned ($4.40) EPS. As a group, sell-side analysts expect that Bristol-Myers Squibb will post 6.74 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Friday, April 4th were paid a dividend of $0.62 per share. The ex-dividend date of this dividend was Friday, April 4th. This represents a $2.48 annualized dividend and a yield of 5.30%. Bristol-Myers Squibb’s dividend payout ratio is presently 92.88%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Cantor Fitzgerald reissued a “neutral” rating and set a $55.00 price target on shares of Bristol-Myers Squibb in a report on Tuesday, April 22nd. William Blair reissued a “market perform” rating on shares of Bristol-Myers Squibb in a research note on Friday, April 25th. Wells Fargo & Company lifted 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. Argus upgraded Bristol-Myers Squibb to a “hold” rating in a research report on Friday, April 25th. Finally, The Goldman Sachs Group reiterated a “neutral” rating and issued a $55.00 price target (down previously from $67.00) on shares of Bristol-Myers Squibb in a report on Tuesday, April 8th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, five have given a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $58.00.

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.