Point72 Europe London LLP Buys 162,962 Shares of Bristol-Myers Squibb (NYSE:BMY)

Point72 Europe London LLP lifted its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 291.8% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 218,813 shares of the biopharmaceutical company’s stock after acquiring an additional 162,962 shares during the quarter. Point72 Europe London LLP’s holdings in Bristol-Myers Squibb were worth $12,376,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Fairway Wealth LLC purchased a new position in Bristol-Myers Squibb in the 4th quarter worth approximately $28,000. Transce3nd LLC bought a new stake in Bristol-Myers Squibb in the 4th quarter worth $28,000. Comprehensive Financial Planning Inc. PA bought a new stake 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 fourth quarter valued at approximately $38,000. Finally, Tacita Capital Inc bought a new position in Bristol-Myers Squibb in the 4th quarter worth $39,000. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Trading Down 5.4%

Bristol-Myers Squibb stock opened at $44.06 on Thursday. The company has a market cap of $89.67 billion, a P/E ratio of -9.97, a PEG ratio of 2.07 and a beta of 0.39. The firm’s 50-day moving average is $53.69 and its 200-day moving average is $56.06. 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 1 year low of $39.35 and a 1 year high of $63.33.

Bristol-Myers Squibb (NYSE:BMY) last issued its earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.80 earnings per share for the quarter, topping analysts’ consensus estimates of $1.50 by $0.30. Bristol-Myers Squibb had a negative net margin of 18.53% and a positive return on equity of 13.93%. The firm had revenue of $11.20 billion during the quarter, compared to analysts’ expectations of $10.77 billion. During the same period last year, the firm posted ($4.40) earnings per share. The firm’s revenue for the quarter was down 5.6% compared to the same quarter last year. On average, equities analysts expect 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. Shareholders of record on Friday, April 4th were issued 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 5.63%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently 92.88%.

Insider Transactions at Bristol-Myers Squibb

In other 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 completion of the transaction, the executive vice president now directly owns 63,932 shares in the company, valued at $3,506,030.88. This trade represents a 2.94% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.09% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have recently issued reports on BMY. Citigroup lifted their target price on shares of Bristol-Myers Squibb from $60.00 to $65.00 and gave the company a “neutral” rating in a report on Tuesday, January 28th. William Blair restated a “market perform” rating on shares of Bristol-Myers Squibb in a research report on Friday, April 25th. Jefferies Financial Group lowered their target price on shares of Bristol-Myers Squibb from $70.00 to $68.00 and set a “buy” rating on the stock in a report on Wednesday, April 23rd. 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 research report on Tuesday, April 8th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $55.00 target price on shares of Bristol-Myers Squibb in a research note on Tuesday, April 22nd. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating, five have issued a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $58.00.

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.