Birchcreek Wealth Management LLC Invests $216,000 in Bristol-Myers Squibb (NYSE:BMY)

Birchcreek Wealth Management LLC purchased a new position in shares of Bristol-Myers Squibb (NYSE:BMY) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,825 shares of the biopharmaceutical company’s stock, valued at approximately $216,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. AMF Tjanstepension AB boosted its stake in shares of Bristol-Myers Squibb by 6.9% in the 3rd quarter. AMF Tjanstepension AB now owns 610,181 shares of the biopharmaceutical company’s stock valued at $31,618,000 after purchasing an additional 39,419 shares in the last quarter. Swedbank AB raised its holdings in Bristol-Myers Squibb by 0.9% during the 3rd quarter. Swedbank AB now owns 3,139,552 shares of the biopharmaceutical company’s stock worth $162,440,000 after purchasing an additional 28,427 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in Bristol-Myers Squibb by 12.7% during the 3rd quarter. Assenagon Asset Management S.A. now owns 64,191 shares of the biopharmaceutical company’s stock worth $3,321,000 after purchasing an additional 7,245 shares during the last quarter. Mediolanum International Funds Ltd raised its holdings in Bristol-Myers Squibb by 0.5% during the 3rd quarter. Mediolanum International Funds Ltd now owns 88,527 shares of the biopharmaceutical company’s stock worth $4,499,000 after purchasing an additional 484 shares during the last quarter. Finally, Pettinga Financial Advisors LLC lifted its position in shares of Bristol-Myers Squibb by 8.7% during the 3rd quarter. Pettinga Financial Advisors LLC now owns 11,108 shares of the biopharmaceutical company’s stock valued at $575,000 after acquiring an additional 886 shares during the period. 76.41% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have commented on BMY shares. BMO Capital Markets raised their price target on shares of Bristol-Myers Squibb from $57.00 to $61.00 and gave the stock a “market perform” rating in a report on Tuesday, November 12th. Bank of America reissued a “neutral” rating and set a $63.00 price target on shares of Bristol-Myers Squibb in a research report on Tuesday, December 10th. Leerink Partners raised shares of Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $55.00 to $73.00 in a research report on Tuesday, November 12th. Truist Financial lifted their target price on shares of Bristol-Myers Squibb from $62.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Finally, Daiwa America raised shares of Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 13th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, four have given a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, Bristol-Myers Squibb currently has a consensus rating of “Hold” and a consensus target price of $57.86.

Bristol-Myers Squibb Trading Up 0.1 %

NYSE:BMY opened at $55.85 on Monday. The company has a fifty day moving average of $56.99 and a 200 day moving average of $54.41. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $61.10. 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 $113.33 billion, a P/E ratio of -12.63, a P/E/G ratio of 2.07 and a beta of 0.45.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings data on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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%. On average, research analysts predict that Bristol-Myers Squibb will post 6.74 earnings per share for the current year.

Bristol-Myers Squibb Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, January 3rd were given a dividend of $0.62 per share. This is an increase from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. This represents a $2.48 dividend on an annualized basis and a yield of 4.44%. The ex-dividend date of this dividend was Friday, January 3rd. Bristol-Myers Squibb’s payout ratio is presently -56.11%.

Insider Buying and Selling at Bristol-Myers Squibb

In other Bristol-Myers Squibb news, EVP Samit Hirawat bought 1,823 shares of Bristol-Myers Squibb stock in a transaction dated Friday, February 14th. The shares were purchased at an average cost of $54.84 per share, with a total value of $99,973.32. Following the transaction, the executive vice president now directly owns 63,932 shares of the company’s stock, valued at $3,506,030.88. This represents a 2.94 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.09% of the company’s stock.

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.