Sienna Gestion Raises Stock Position in Bristol-Myers Squibb (NYSE:BMY)

Sienna Gestion raised its holdings in Bristol-Myers Squibb (NYSE:BMY) by 722.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 158,299 shares of the biopharmaceutical company’s stock after purchasing an additional 139,048 shares during the quarter. Sienna Gestion’s holdings in Bristol-Myers Squibb were worth $8,952,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Fairway Wealth LLC acquired a new position in Bristol-Myers Squibb in the fourth quarter valued at about $28,000. Darwin Wealth Management LLC purchased a new position in Bristol-Myers Squibb in the 3rd quarter valued at approximately $29,000. Dunhill Financial LLC grew its stake in shares of Bristol-Myers Squibb by 39.8% in the third quarter. Dunhill Financial LLC now owns 664 shares of the biopharmaceutical company’s stock worth $34,000 after acquiring an additional 189 shares in the last quarter. Comprehensive Financial Planning Inc. PA purchased a new stake in shares of Bristol-Myers Squibb during the fourth quarter worth $34,000. Finally, Westend Capital Management LLC acquired a new stake in shares of Bristol-Myers Squibb in the fourth quarter valued at $38,000. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

BMY has been the topic of several recent research reports. Citigroup upped their price target on Bristol-Myers Squibb from $60.00 to $65.00 and gave the stock a “neutral” rating in a report on Tuesday, January 28th. Bank of America reiterated a “neutral” rating and issued a $63.00 price target on shares of Bristol-Myers Squibb in a research note on Tuesday, December 10th. Cantor Fitzgerald increased their price objective on shares of Bristol-Myers Squibb from $50.00 to $55.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. Wolfe Research assumed coverage on shares of Bristol-Myers Squibb in a research report on Friday, November 15th. They set a “peer perform” rating for the company. Finally, Jefferies Financial Group upgraded Bristol-Myers Squibb from a “hold” rating to a “buy” rating and raised their price target for the company from $63.00 to $70.00 in a research note on Monday, December 16th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating, four have issued a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $57.86.

Bristol-Myers Squibb Price Performance

Shares of NYSE BMY opened at $60.22 on Friday. The stock has a fifty day moving average price of $57.76 and a 200 day moving average price of $55.44. Bristol-Myers Squibb has a 1-year low of $39.35 and a 1-year high of $63.33. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.25 and a quick ratio of 1.15. The company has a market cap of $122.21 billion, a PE ratio of -13.63, a P/E/G ratio of 2.07 and a beta of 0.43.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Thursday, February 6th. The biopharmaceutical company reported $1.67 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%. Sell-side analysts forecast that Bristol-Myers Squibb will post 6.74 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently announced 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. This represents a $2.48 dividend on an annualized basis and a yield of 4.12%. The ex-dividend date of this dividend is Friday, April 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently -56.11%.

Insider Activity

In related news, EVP Samit Hirawat bought 1,823 shares of the stock in a transaction on Friday, February 14th. The shares were bought at an average cost of $54.84 per share, for a total transaction 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.09% of the company’s stock.

Bristol-Myers Squibb 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.