Resona Asset Management Co. Ltd. Makes New $37.22 Million Investment in Bristol-Myers Squibb (NYSE:BMY)

Resona Asset Management Co. Ltd. acquired a new stake in shares of Bristol-Myers Squibb (NYSE:BMY) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 656,319 shares of the biopharmaceutical company’s stock, valued at approximately $37,224,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank bought a new stake in Bristol-Myers Squibb during the fourth quarter valued at $1,989,525,000. Wellington Management Group LLP raised its holdings in shares of Bristol-Myers Squibb by 3,880.0% in the 4th quarter. Wellington Management Group LLP now owns 5,977,505 shares of the biopharmaceutical company’s stock valued at $338,088,000 after acquiring an additional 5,827,317 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Bristol-Myers Squibb during the 4th quarter valued at about $257,618,000. Schroder Investment Management Group grew its holdings in shares of Bristol-Myers Squibb by 49.7% during the fourth quarter. Schroder Investment Management Group now owns 11,413,428 shares of the biopharmaceutical company’s stock worth $639,837,000 after purchasing an additional 3,787,075 shares in the last quarter. Finally, National Bank of Canada FI increased its position in shares of Bristol-Myers Squibb by 194.7% in the third quarter. National Bank of Canada FI now owns 2,506,741 shares of the biopharmaceutical company’s stock worth $129,698,000 after purchasing an additional 1,656,141 shares during the last quarter. Institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Trading Down 4.3 %

BMY opened at $55.32 on Friday. The firm has a market capitalization of $112.56 billion, a price-to-earnings ratio of -12.52, a PEG ratio of 2.07 and a beta of 0.43. Bristol-Myers Squibb has a one year low of $39.35 and a one year high of $63.33. The business has a 50 day simple moving average of $58.62 and a two-hundred day simple moving average of $56.58. 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 results on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share for the quarter, beating the consensus estimate of $1.47 by $0.20. Bristol-Myers Squibb had a negative net margin of 18.53% and a positive return on equity of 13.93%. Analysts predict that Bristol-Myers Squibb will post 6.74 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Friday, April 4th will be issued a $0.62 dividend. The ex-dividend date of this dividend is Friday, April 4th. This represents a $2.48 annualized dividend and a yield of 4.48%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -56.11%.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Cantor Fitzgerald boosted their price target on shares of Bristol-Myers Squibb from $50.00 to $55.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. Truist Financial increased their target price on Bristol-Myers Squibb from $62.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Bank of America reaffirmed a “neutral” rating and set a $63.00 price target on shares of Bristol-Myers Squibb in a research note on Tuesday, December 10th. Wells Fargo & Company increased their price objective on Bristol-Myers Squibb from $60.00 to $62.00 and gave the company an “equal weight” rating in a research report on Friday, February 7th. Finally, Citigroup boosted their target price on Bristol-Myers Squibb from $60.00 to $65.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 28th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, four have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, Bristol-Myers Squibb has an average rating of “Hold” and a consensus target price of $57.86.

Insider Buying and Selling at Bristol-Myers Squibb

In other news, EVP Samit Hirawat acquired 1,823 shares of the stock in a transaction on Friday, February 14th. The stock was acquired at an average price of $54.84 per share, with a total value of $99,973.32. Following the completion of the transaction, the executive vice president now owns 63,932 shares of the company’s stock, valued at $3,506,030.88. This represents a 2.94 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.09% of the company’s stock.

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.