Parallel Advisors LLC Raises Stock Holdings in Bristol-Myers Squibb (NYSE:BMY)

Parallel Advisors LLC grew its stake in Bristol-Myers Squibb (NYSE:BMY) by 1.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,322 shares of the biopharmaceutical company’s stock after buying an additional 471 shares during the quarter. Parallel Advisors LLC’s holdings in Bristol-Myers Squibb were worth $2,154,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of BMY. Norges Bank purchased a new stake in Bristol-Myers Squibb in the fourth quarter worth about $1,989,525,000. Ameriprise Financial Inc. increased its position in Bristol-Myers Squibb by 59.9% in the fourth 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 in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its position in Bristol-Myers Squibb by 701.2% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 12,470,106 shares of the biopharmaceutical company’s stock worth $705,309,000 after buying an additional 10,913,708 shares in the last quarter. Wellington Management Group LLP increased its position in Bristol-Myers Squibb by 3,880.0% in the fourth quarter. Wellington Management Group LLP now owns 5,977,505 shares of the biopharmaceutical company’s stock worth $338,088,000 after buying an additional 5,827,317 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in Bristol-Myers Squibb in the fourth quarter worth about $257,618,000. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Jefferies Financial Group reduced their price target on Bristol-Myers Squibb from $70.00 to $68.00 and set a “buy” rating for the company in a research report on Wednesday, April 23rd. UBS Group cut their target price on Bristol-Myers Squibb from $60.00 to $54.00 and set a “neutral” rating for the company in a research report on Friday, April 11th. William Blair reiterated a “market perform” rating on shares of Bristol-Myers Squibb in a research report on Friday, April 25th. Wells Fargo & Company increased their target price on Bristol-Myers Squibb from $60.00 to $62.00 and gave the stock an “equal weight” rating in a research report on Friday, February 7th. Finally, Piper Sandler began coverage on Bristol-Myers Squibb in a research report on Tuesday, April 22nd. They set an “overweight” rating and a $65.00 target price for the company. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating, five have given a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $58.00.

Insider Activity

In related news, EVP Samit Hirawat acquired 4,250 shares of the stock in a transaction dated Friday, April 25th. The stock was acquired at an average cost of $47.58 per share, with a total value of $202,215.00. Following the purchase, the executive vice president now directly owns 83,513 shares of the company’s stock, valued at approximately $3,973,548.54. This trade represents a 5.36% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.09% of the company’s stock.

Bristol-Myers Squibb Price Performance

Shares of Bristol-Myers Squibb stock opened at $48.26 on Friday. The stock has a 50 day moving average of $50.49 and a 200 day moving average of $55.37. Bristol-Myers Squibb has a 12 month low of $39.35 and a 12 month high of $63.33. The firm has a market cap of $98.21 billion, a PE ratio of -10.92, a PEG ratio of 2.07 and a beta of 0.39. The company has a current ratio of 1.25, a quick ratio of 1.15 and a debt-to-equity ratio of 2.90.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.80 EPS 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 company had revenue of $11.20 billion during the quarter, compared to analyst estimates of $10.77 billion. During the same period in the prior year, the company earned ($4.40) earnings per share. The firm’s revenue was down 5.6% on a year-over-year basis. On average, research analysts expect that Bristol-Myers Squibb will post 6.74 EPS for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Friday, April 4th were paid a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 5.14%. The ex-dividend date was Friday, April 4th. 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.