Suvretta Capital Management LLC Makes New $1.91 Million Investment in Bristol-Myers Squibb (NYSE:BMY)

Suvretta Capital Management LLC bought a new position in Bristol-Myers Squibb (NYSE:BMY) during the fourth quarter, HoldingsChannel.com reports. The fund bought 33,800 shares of the biopharmaceutical company’s stock, valued at approximately $1,912,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Sphera Funds Management LTD. purchased a new stake in Bristol-Myers Squibb in the fourth quarter worth $1,131,000. Rafferty Asset Management LLC increased its stake in shares of Bristol-Myers Squibb by 10.1% during the fourth quarter. Rafferty Asset Management LLC now owns 236,274 shares of the biopharmaceutical company’s stock valued at $13,364,000 after buying an additional 21,714 shares during the period. Raiffeisen Bank International AG purchased a new position in shares of Bristol-Myers Squibb during the fourth quarter valued at $20,614,000. Point72 Asia Singapore Pte. Ltd. increased its stake in shares of Bristol-Myers Squibb by 236.1% during the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 81,262 shares of the biopharmaceutical company’s stock valued at $4,596,000 after buying an additional 57,086 shares during the period. Finally, Point72 Europe London LLP increased its stake in shares of Bristol-Myers Squibb by 291.8% during the fourth quarter. Point72 Europe London LLP now owns 218,813 shares of the biopharmaceutical company’s stock valued at $12,376,000 after buying an additional 162,962 shares during the period. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on BMY. Argus upgraded Bristol-Myers Squibb to a “hold” rating in a research note on Friday, April 25th. Citigroup raised their price target on Bristol-Myers Squibb from $60.00 to $65.00 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. Jefferies Financial Group cut their price target on Bristol-Myers Squibb from $70.00 to $68.00 and set a “buy” rating on the stock in a research note on Wednesday, April 23rd. William Blair restated a “market perform” rating on shares of Bristol-Myers Squibb in a research note on Friday, April 25th. Finally, The Goldman Sachs Group restated a “neutral” rating and set a $55.00 price target (down previously from $67.00) on shares of Bristol-Myers Squibb in a research note on Tuesday, April 8th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, five have issued a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $58.00.

Insider Buying and Selling

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 bought at an average price of $47.58 per share, for a total transaction of $202,215.00. Following the acquisition, the executive vice president now owns 83,513 shares in the company, valued at $3,973,548.54. This represents a 5.36% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.09% of the stock is owned by corporate insiders.

Bristol-Myers Squibb Stock Performance

Shares of Bristol-Myers Squibb stock opened at $46.77 on Friday. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $63.33. The company has a 50 day moving average price of $53.05 and a 200 day moving average price of $55.97. The company has a quick ratio of 1.15, a current ratio of 1.25 and a debt-to-equity ratio of 2.90. The firm 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.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly 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. Bristol-Myers Squibb had a negative net margin of 18.53% and a positive return on equity of 13.93%. The company had revenue of $11.20 billion for the quarter, compared to the consensus estimate of $10.77 billion. During the same quarter in the prior year, the company earned ($4.40) EPS. Bristol-Myers Squibb’s quarterly revenue was down 5.6% on a year-over-year basis. Sell-side analysts expect that Bristol-Myers Squibb will post 6.74 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

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

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.