JT Stratford LLC Grows Stock Position in Bristol-Myers Squibb (NYSE:BMY)

JT Stratford LLC lifted its stake in Bristol-Myers Squibb (NYSE:BMY) by 215.8% in the fourth quarter, HoldingsChannel reports. The firm owned 33,554 shares of the biopharmaceutical company’s stock after acquiring an additional 22,929 shares during the quarter. JT Stratford LLC’s holdings in Bristol-Myers Squibb were worth $1,898,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in Bristol-Myers Squibb by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 189,944,516 shares of the biopharmaceutical company’s stock worth $10,743,262,000 after buying an additional 1,373,209 shares during the last quarter. Capital International Investors lifted its holdings in Bristol-Myers Squibb by 7.5% during the 4th quarter. Capital International Investors now owns 45,866,624 shares of the biopharmaceutical company’s stock worth $2,593,940,000 after buying an additional 3,218,865 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Bristol-Myers Squibb by 2.7% during the 4th quarter. Geode Capital Management LLC now owns 44,391,247 shares of the biopharmaceutical company’s stock worth $2,505,967,000 after buying an additional 1,187,231 shares during the last quarter. Norges Bank purchased a new stake in Bristol-Myers Squibb during the 4th quarter worth about $1,989,525,000. Finally, Ameriprise Financial Inc. lifted its holdings in Bristol-Myers Squibb by 59.9% during the 4th quarter. Ameriprise Financial Inc. now owns 32,079,246 shares of the biopharmaceutical company’s stock worth $1,814,341,000 after buying an additional 12,011,983 shares during the last quarter. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BMY has been the subject of a number of recent analyst reports. Piper Sandler initiated coverage on Bristol-Myers Squibb in a report on Tuesday, April 22nd. They set an “overweight” rating and a $65.00 price target for the company. Wells Fargo & Company boosted their target price on Bristol-Myers Squibb from $60.00 to $62.00 and gave the company an “equal weight” rating in a report on Friday, February 7th. Citigroup boosted their target price on Bristol-Myers Squibb from $60.00 to $65.00 and gave the company a “neutral” rating in a report on Tuesday, January 28th. Jefferies Financial Group reduced their target price on Bristol-Myers Squibb from $70.00 to $68.00 and set a “buy” rating for the company in a report on Wednesday, April 23rd. Finally, William Blair reissued a “market perform” rating on shares of Bristol-Myers Squibb in a report on Friday, April 25th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating, five have assigned a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $58.00.

Bristol-Myers Squibb Stock Performance

NYSE BMY opened at $46.97 on Thursday. Bristol-Myers Squibb has a 1-year low of $39.35 and a 1-year high of $63.33. The company has a market capitalization of $95.58 billion, a P/E ratio of -10.63, a PEG ratio of 2.07 and a beta of 0.39. The business has a 50 day moving average price of $52.31 and a 200 day moving average price of $55.83. 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 (NYSE:BMY) last released its quarterly earnings data on Thursday, April 24th. The biopharmaceutical company reported $1.80 earnings per share for the quarter, beating the consensus estimate of $1.50 by $0.30. Bristol-Myers Squibb had a positive return on equity of 13.93% and a negative net margin of 18.53%. The firm had revenue of $11.20 billion during the quarter, compared to the consensus estimate of $10.77 billion. During the same period last year, the business posted ($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 fiscal year.

Bristol-Myers Squibb Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Friday, April 4th were paid a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 5.28%. The ex-dividend date was Friday, April 4th. Bristol-Myers Squibb’s payout ratio is currently 92.88%.

Insider Activity at Bristol-Myers Squibb

In related news, EVP Samit Hirawat bought 4,250 shares of the stock in a transaction 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 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 purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.07% of the stock is currently owned by company insiders.

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.