Polar Asset Management Partners Inc. Makes New Investment in Bristol-Myers Squibb (NYSE:BMY)

Polar Asset Management Partners Inc. purchased a new position in shares of Bristol-Myers Squibb (NYSE:BMY) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 294,400 shares of the biopharmaceutical company’s stock, valued at approximately $16,651,000.

Other institutional investors have also modified their holdings of the company. Pinney & Scofield Inc. purchased a new stake in Bristol-Myers Squibb during the 4th quarter worth approximately $25,000. Fairway Wealth LLC purchased a new position in Bristol-Myers Squibb in the fourth quarter valued at $28,000. Transce3nd LLC acquired a new position in shares of Bristol-Myers Squibb during the 4th quarter worth about $28,000. Comprehensive Financial Planning Inc. PA purchased a new position in shares of Bristol-Myers Squibb in the 4th quarter valued at about $34,000. Finally, Tacita Capital Inc acquired a new stake in shares of Bristol-Myers Squibb during the 4th quarter worth about $39,000. 76.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have commented on BMY shares. UBS Group dropped their price target on shares of Bristol-Myers Squibb from $60.00 to $54.00 and set a “neutral” rating on the stock in a research note on Friday, April 11th. Argus raised shares of Bristol-Myers Squibb to a “hold” rating in a research report on Friday, April 25th. Wells Fargo & Company raised their price objective on Bristol-Myers Squibb from $60.00 to $62.00 and gave the stock an “equal weight” rating in a report on Friday, February 7th. William Blair restated a “market perform” rating on shares of Bristol-Myers Squibb in a research report on Friday, April 25th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $55.00 price objective on shares of Bristol-Myers Squibb in a research report on Tuesday, April 22nd. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, five have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $58.00.

Insider Buying and Selling

In related 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 price of $47.58 per share, for a total transaction of $202,215.00. Following the completion of the purchase, the executive vice president now directly owns 83,513 shares in the company, valued at $3,973,548.54. This trade represents a 5.36% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.07% of the stock is owned by corporate insiders.

Bristol-Myers Squibb Price Performance

BMY stock opened at $46.88 on Friday. The stock’s fifty day simple moving average is $51.79 and its 200-day simple moving average is $55.71. Bristol-Myers Squibb has a 52-week low of $39.35 and a 52-week high of $63.33. The stock has a market capitalization of $95.40 billion, a price-to-earnings ratio of -10.61, a price-to-earnings-growth ratio of 2.07 and a beta of 0.39. The company has a quick ratio of 1.15, a current ratio of 1.25 and a debt-to-equity ratio of 2.90.

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, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $10.77 billion. During the same quarter last year, the firm earned ($4.40) earnings per share. The firm’s revenue for the quarter was down 5.6% compared to the same quarter last year. Equities research analysts expect that Bristol-Myers Squibb will post 6.74 EPS for the current year.

Bristol-Myers Squibb Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Investors 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 dividend yield of 5.29%. Bristol-Myers Squibb’s payout ratio is 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.